Kids earning money

Recently we instituted a pay scale for earning extra money in our house.  The kids are old enough to want to earn and have their own money.  Micheal and I were of the same opinion that paying them for their regular chores was out.  They do those simply because they live here and are expected to be a contributing member of the family.  Just like we do things that we don’t get paid for as adults in order to be a contributing member of society.

Paying for grades wouldn’t work for us either.  One, we don’t give grades in our homeschool.  That kind of blew it our right there.  I wasn’t about to add grade to our lessons either.  I wouldn’t even know how to do that with some lessons, like nature.  Seriously, how do you grade nature journals?

While we knew what we weren’t willing to pay for, we did need to come up with something we would indeed pay them to do.  You learn how to handle money by having your own.  We want them to learn to save and give along with spend.  Learning all three are equally important.  Just like learning delayed gratification.  We don’t always get what we want when we want it.

In the end, Michael and I decided to pay them to help us.  We assigned monetary values to some of our chores like mowing the grass, doing laundry, or clipping coupons.  They have to ask to do the chore or I announce that I need someone to do it.  The first kid to answer gets to do it.  Then I add it to their total on the white board.  They get paid on Wednesdays just like Dad.  Another life lesson in that you don’t automatically get paid every time you do something.

Logan has taken it to it like a duck to water. He has several things that he wants and is beginning to  understand the power of money.  We did establish rules for tithing , saving and spending.  He does well if there are hard and fast rules.  I just need to convince him that he needs to carry his wallet in his pocket.  He often leaves it at home.

Madison has not been as enthusiastic as Logan. She has been a better saver than him though.  Often deciding that if she has to pay for it then she doesn’t need it.  This is ok too.  She also has to be reminded when we go out to bring her money.  Now that they have their own money, we don’t pay for things like candy, drinks , or little trinkets when we go out.  It has saved us money too.