chefinbiz
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Could you please try to find that and post it? I think it's a fantastic idea!tlennhoff said:You could pay them in monopoly/fake money at the time they do the task and then once a month have them bring that to you for a real check.
My mom has begun working with my nephews on creating a "$1 million" fund - they have agreed to put 10% of all money they earn or get as gifts into the savings account she set up. She also puts in $5 a month in the accounts for them as long as they put their 10% in. I think she found a program or has a spreadsheet that shows the kids when they'll hit the $1 million mark. They had mixed feelings about this when she started but a year or two into it and they are starting to understand savings and be excited about the idea. I think my youngest nephew involved in this was about 10 when she started this.
If you are also into teaching your kids about charity this is a great opportunity. Get them to put 10% aside for charity, match it monthly, and let them decide who gets the money each month or every 3 months.
The earlier one starts these with kids the more likely they are to make it a lifetime habit as it will seem normal to them.
I agree! My 12 yr. DSS needs some help in the savings department. (Well, we as parents need to help him!! LOL) and I would love to start something like that for my 2 yr. DS, too!BethCooks4U said:Could you please try to find that and post it? I think it's a fantastic idea!
BethCooks4U said:Could you please try to find that and post it? I think it's a fantastic idea!
KellyTheChef said:I agree! My 12 yr. DSS needs some help in the savings department. (Well, we as parents need to help him!! LOL) and I would love to start something like that for my 2 yr. DS, too!
The amount you pay your children for helping in the kitchen is ultimately up to your discretion. Some parents choose to pay their children an hourly rate, while others prefer to pay per task or chore. It is important to consider the age and skill level of your children when determining the appropriate amount to pay.
There is no set age at which you should start paying your children to help in the kitchen. However, it is important to make sure they are old enough to handle the tasks safely and understand the value of money. Many parents start around age 8 or 9, but it ultimately depends on your child's maturity and ability.
Yes, you can deduct the money you pay your children for helping in the kitchen from their allowance. This can be a great way to teach them about budgeting and the importance of earning money through hard work. Just be sure to communicate this with your children beforehand to avoid any confusion or misunderstandings.
The tasks or chores you choose to pay your children for in the kitchen will depend on their age and ability. Some common tasks include setting the table, washing dishes, and helping with meal prep. You can also consider creating a list of tasks and corresponding payment amounts to make it easier for them to choose and track their responsibilities.
This is ultimately up to your discretion. Some parents choose to pay their children more for more difficult tasks in the kitchen, while others prefer to keep a flat rate for all tasks. It can be a good idea to discuss this with your children and come up with a fair and consistent payment system together.