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 have wrestled with. “ I’ve already explained in a previous post why we don’t give our kids allowances. I’m not giving them money just for existing, which 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 chores

Would your kids know which setting to use?

In 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. I knew some freshman college students who couldn’t do their own laundry. My oldest two children have been doing that since they were nine.

Questions About Paying Kids For Chores

There are so many questions that arise for parents on the issue of paying kids for chores. Some of the big ones we’ve wrestled with include:

“At what age should we start?”

“What tasks should my kids be doing?”

“Do I pay them for everything?”

“How much should I be paying them?”

I’m not sure there is a cut and dry answer to those questions. We’ve gone back and forth on the issues since we began our work-for-pay commission program. Five years into it, this is how we see it:

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The Basics of How to Pay for College

how to pay for collegeIn my years as an educator, I’ve always enjoyed the months of February and March. Basketball tournaments are in full swing, winter mercifully comes to an end and spring (break) is right around the corner. These are also the months when high school seniors begin to solidify their plans and make THE DECISION on where to attend college.

It’s quite a relief to finally answer with certainty the two big questions everyone has been asking – “Where are you going to school?” and “What are you going to major in?”  I was never so glad to put those questions to bed and that uncertainty behind me.

However, the question nobody asks is probably the biggest of them all – “How are going to pay for that?”

Unfortunately, many high school students and their families haven’t adequately thought about how to pay for college. They’ve spent so much time on the other two questions they’ve left out the most fundamental aspect of going to school – the fact that it costs money. If they haven’t thought about it until the last minute it can be a very daunting challenge to figure out.

Heck, it’s daunting even if you’ve been planning for years. Have you seen the cost of a four-year degree recently? It’s enough to make even the most financially sound shudder. We started setting aside money for college when my oldest turned five and I still don’t know if there will be enough to cover the costs of four years for four children.

The Basic of How to Pay for College

Whatever your situation – whether you’ve been saving for years or have just begun to think about it – you have to develop a plan. With that in mind, here is Part I of two on how to pay for college and reduce the costs of a higher education. These are the six top things you can do:

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