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Life
The Way American Parents Think About Chores Is Bizarre
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<blockquote data-quote="cheryl" data-source="post: 748" data-attributes="member: 1"><p><a href="https://www.theatlantic.com/family/archive/2018/12/allowance-kids-chores-help/578848/" target="_blank"><strong>The Way American Parents Think About Chores Is Bizarre - The Atlantic</strong></a></p><p></p><p>Children naturally want to help at a very early age—but many families wait to conscript them until that desire has faded. </p><p></p><p>The practice of paying children an allowance kicked off in earnest about 100 years ago. “The motivation was twofold,” says Steven Mintz, a historian of childhood at the University of Texas at Austin. “First, to provide kids with the money that they needed to participate in the emerging commercial culture—allowing them to buy candy, cheap toys, and other inexpensive products—and second, to teach them the value of money.”</p><p></p><p>These days, American children on average receive <a href="https://www.aicpa.org/press/pressreleases/2016/four-in-five-americans-say-allowance-teachesfinancial-responsibilty.html" target="_blank">about $800 per year</a> in allowance, according to the American Institute of Certified Public Accountants. Kids, though, are usually not receiving money for nothing—the <a href="https://www.ctcpas.org/content/25778.aspx" target="_blank">vast majority</a> of American parents who pay allowance (who themselves <a href="https://www.aicpa.org/press/pressreleases/2016/four-in-five-americans-say-allowance-teachesfinancial-responsibilty.html" target="_blank">are a majority of American parents</a>) tie it to the completion of work around the house.</p><p></p><p>Parents’ preference for this setup has spawned an array of apps that let them dole out allowance money once chores are completed, and even pay for an individual chore. Homey, an app that’s effectively a digital chore chart, allows parents to issue payouts upon visual confirmation of finished chores and is used by 100,000 families. A similar app called BusyKid, which launched earlier this year and is used by 25,000 families, also lets children invest in the stock market with their allowance money. (These apps are just two of many new digital tools, including RoosterMoney, Current, and goHenry, for managing children’s money and teaching them about personal finance.)</p></blockquote><p></p>
[QUOTE="cheryl, post: 748, member: 1"] [URL='https://www.theatlantic.com/family/archive/2018/12/allowance-kids-chores-help/578848/'][B]The Way American Parents Think About Chores Is Bizarre - The Atlantic[/B][/URL] Children naturally want to help at a very early age—but many families wait to conscript them until that desire has faded. The practice of paying children an allowance kicked off in earnest about 100 years ago. “The motivation was twofold,” says Steven Mintz, a historian of childhood at the University of Texas at Austin. “First, to provide kids with the money that they needed to participate in the emerging commercial culture—allowing them to buy candy, cheap toys, and other inexpensive products—and second, to teach them the value of money.” These days, American children on average receive [URL='https://www.aicpa.org/press/pressreleases/2016/four-in-five-americans-say-allowance-teachesfinancial-responsibilty.html']about $800 per year[/URL] in allowance, according to the American Institute of Certified Public Accountants. Kids, though, are usually not receiving money for nothing—the [URL='https://www.ctcpas.org/content/25778.aspx']vast majority[/URL] of American parents who pay allowance (who themselves [URL='https://www.aicpa.org/press/pressreleases/2016/four-in-five-americans-say-allowance-teachesfinancial-responsibilty.html']are a majority of American parents[/URL]) tie it to the completion of work around the house. Parents’ preference for this setup has spawned an array of apps that let them dole out allowance money once chores are completed, and even pay for an individual chore. Homey, an app that’s effectively a digital chore chart, allows parents to issue payouts upon visual confirmation of finished chores and is used by 100,000 families. A similar app called BusyKid, which launched earlier this year and is used by 25,000 families, also lets children invest in the stock market with their allowance money. (These apps are just two of many new digital tools, including RoosterMoney, Current, and goHenry, for managing children’s money and teaching them about personal finance.) [/QUOTE]
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The Way American Parents Think About Chores Is Bizarre
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