Is Monetary Allowance Mandatory or Necessary at all?
Many parents, family members and others give monetary allowance, payments for chores and gifts to children as they complete chores, get good grades, birthdays, gifts etc....
Reports have stated that children are seen in schools, shopping malls and other places with large sums of monies received from various sources. Many children have even been assaulted and robbed in the process. As we look at today's blog how can we avoid some of the money issues with our children.
TODAY'S FOCUS: MONETARY COMPENSATION
- Should children be given monetary compensation for doing chores, getting good grades, for gifts etc.... ?
- If yes, why and at what age should they be compensated?
- If no, why not/what other compensation would you recommend?
- Should children be given their own monies to shop for their own clothes, gifts etc...?
- Why or Why Not?
- What values should we teach our children about money?
Please let me hear from you. These are very important subject that impacts the lives of our children.
God Bless and always remember to keep the faith!
Precious Jewel
Pastor Julie,
ReplyDeleteMonetary compensation for chores, good grades is not necessary for children. I know we often think or are under the assumption that money is reward however it should not be consider a reward it has value (for now) and what we should be teaching is value.
Good point. What are your recommendations if any for rewards?
ReplyDeleteAnonymous. You made a valuable point. Children should not be compensated monetarily, for chores. I am not even sure that children should be rewarded. How about just loving them? Showing love in all our interaction with them. Hugs, kisses, smiles, a little treat here and there, let them know how much we love them, want what is best for, and do all we can to keep them safe. That is reward in itself. Food for thought!
ReplyDeleteFood for thought indeed! Children should be made aware that they should learn and participate in household chores without anticipating or expecting payment as it is a requirement for them to be accountable for their learning and life's values like good house keeping and training to become responsible adults.
ReplyDeleteSecondly children should not be given monies to buy clothing and other goods but they should be under supervision and shopping with their parents who will monitor their purchases and spending.
I would recommend when exceptional performances are done example an above average report card, or doing extra task without being ask, milestone or accomplishment incentive like a movie treat, food treats, extra hour up on weekends an educational gift etc... can motivate and encourage but should be done cautiously as to not make it a practice or indication of a payment method.
Finally, children should be taught the principles of stewardship. If monetary gifts are received they should be taught savings disciplines and giving to charity and the Lord's work.
Let's not create habits that we might not be able to maintain or may become burdens to our budget and conscience. God Bless