2862: How to Create a Chore and Reward System for Kids by Andy Hill of Marriage, Kids and Money on Habit Formation

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Episode 2862:

Andy Hill shares a practical, age-appropriate system for teaching kids responsibility and money management through a mix of unpaid family chores and paid "money chores." By combining a simple three-task allowance system with "Save, Spend, and Give" jars, he lays the groundwork for lifelong habits of contribution, self-discipline, and financial awareness, all while keeping it fun and achievable for young kids.

Read along with the original article(s) here: https://marriagekidsandmoney.com/mkm-challenge-create-a-chore-and-reward-system-for-kids

Quotes to ponder:

"When the chore is done, inspect their work to make sure they did it right. They know you're engaged and you care about the hard work they did for the family."

"Help your child 'Spend, Save and Give' responsibly."

"If they save up a bunch of money for something big, meet them in the middle if you want."