Hope for your financial life and beyond

How Much We Pay Our Kids For Chores

“How much to pay kids for chores?” is a question my wife and I have wrestled with again and again. I’ve mentioned before why we don’t give our kids allowances. I’m not giving them money just for existing. It seems like that is what an allowance implies. Kids need to feel the burden of work so they can experience the joy of its rewards.

how much to pay kids for choresIn addition to earning some money, doing chores around the house is teaching them responsibility. The home is where they should begin to learn basic life skills. When I was in school, I knew some college freshman who couldn’t do their own laundry. My oldest two children have been doing that since they were nine.

Over the years my wife and I have adjusted how much we pay our kids for chores. The amounts started out small and increased as they got older. Now that our oldest has turned 16, we are looking at another radical change. Before I get to that, here is some background information that helped us decide on how much to pay kids for chores.

[Read more…]