Parents (and some schools) have often given money for good grades as a tool to motivate their kids to do well in school. During my years as teacher and principal at several private schools, I’ve known about it happening at all levels, from kindergarten through high school. I heard rates that varied from $5 - $100 being offered by parents for kids earning A’s in a class.
Yes, you read that right. $100 per A, per semester!
Start calculating that out over 6 or 7 classes and it makes me want to go back to school. Seeing that I was a straight A student I would have made a killing.
Some parents I’ve heard have a higher standard that requires their child to get A’s in all classes in order to receive any money. The theory behind that approach is to develop a well-rounded child who excels in everything.
Neither of these options ever felt right to me. So early on my wife and I decided we would never give our kids money for good grades. Here’s our reasoning and what we chose to do instead.
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. When I was in school, I knew some college freshman who couldn’t do their own laundry. All four of my children have been doing their laundry since they were nine.