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Kids, Money, and Capitalism

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Kids can learn about money, hard work and capitalism. Some parents don’t believe in giving their kids an allowance. Instead they give their kids a commission. If the children work doing chores, they get paid. If they don’t work, they don’t get anything. Children learn very quickly how capitalism works throughout the United States. They realize if they want something, they will have to work hard to earn it.

The pay range could be around $1 to $5 per chore. Some increase the amount as the child grows and the work becomes more difficult. If you decide to go this route, make sure the commission amount is appropriate for your family and budget.

Teach Giving Back

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Demonstrate that giving back is the most important thing one can do. You can teach this with money. If you hand a kid a quarter to drop into the local street corner animal shelter container, they are just delivering YOUR money so nothing is learned. Sometimes kids need to know how it feels to help others with the sacrifice of donating their own money. This also works with donating some holiday and birthday presents and Halloween candy to the sick or poor.

How To Unspoil A Child

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To unspoil a child, they need to learn how to earn the items they want to have. Children need to feel a connect between work and money. One way to teach them this is to pay commissions and not allowances. Therefore they will earn money towards items they want for doing chores and tasks. They will learn that if they work, they will get paid. If they do not work, then they will not get paid. That is the rule for parents in the real world, so it might as well be for kids too.

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