How do I teach my 12 year old about earning money the right way?

Jan 4·1 min read

My boy's been asking for the latest gaming console and I told him he needs to earn it. I want him to understand that good things come from hard work, not handouts. I'm thinking about having him do yard work and chores beyond what he normally does. Any of you guys have a system that worked for your sons? I want to make sure I'm doing this right and not just being cheap, you know?

6 comments359 views

Comments(6)

RRyan P.New DadJan 6

How old is your boy? Just wondering because I found the console thing worked better when my kid was 13 than when he was younger. At 12 some kids don't have the patience for long term saving yet.

TTim K.RegularJan 6

Real talk - it's going to take forever at kid wages. My son needed like 8 months to save up $300. But you know what? That slow pace actually teaches the lesson better than anything I could have said. He learned the true value of money.

DDean F.RegularJan 6

I started with yard work too but honestly a chore chart with base allowance plus extra money for going above and beyond worked better for us. Keeps him motivated without making everything transactional.

DDan K.New DadJan 6

Make sure you're actually paying him consistently or he'll lose motivation. I learned that the hard way - said I'd pay him for chores but got inconsistent and he just stopped asking.

CChristopherRegularJan 7

This is the way to go. My son mowed lawns for our neighbor to save up for a Switch and he actually takes care of it now instead of just expecting replacements. The work ethic lesson sticks way better when his own money is involved.

CCharlie A.New DadJan 7

Smart move not just buying it. I see too many dads just hand stuff over and the kids don't respect it. When my son earned his Nintendo he actually uses it instead of getting bored in a week.