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Episode 3154:
Andy Hill challenges the traditional notion of giving kids an allowance by linking money to effort through “Chore Money.” His approach teaches children real-world financial principles, like earning through value, saving early, and understanding limits, while also sparking entrepreneurial thinking from a young age.
Read along with the original article(s) here: https://marriagekidsandmoney.com/why-i-wont-give-my-kids-an-allowance
Quotes to ponder:
"You exist therefore you get money. That concept doesn’t work in the real world."
"If she helps with the chores, she gets paid. If she doesn't help, she doesn't get paid."
"When you’re a saver, you have options. You can more easily pursue your passions and live your life on your terms."
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Optimal Finance Daily - Financial Independence and Money Advice