Should You Tie Your Kids’ Allowance to Chores?

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“It’s your turn to take out the garbage.” “Those dishes aren’t going to do themselves.” “Clean your room, or no computer time for you.” You’ve tried cajoling, or the threat of punishment, or even a good old-fashioned guilt trip to get your kids to do their chores. But Steve Siebold, author of the book How Rich People Think, believes that tying your kids’ allowance to chores is a smart way to get stuff done and raise a budding entrepreneur. “Kids should help around the house, but the reality is most kids don’t want to,” says Siebold. “In the real world, adults have things they don’t always want to do either, but they have to do them in order to make money. We’re teaching kids from an early age that money is a dynamic medium of exchange for goods and services.”

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