Friday, April 22, 2011

Do you pay your children for grades?

It’s going to come up. Moms and dads are going to have to choose whether to pay their kids for good grades. Some look at a little money as an extra incentive to excel, while others believe that it sends the wrong message to children about the value of both money and education. However if various studies of pay-for-grade programs at public schools are any indication, there’s a middle road that comes with educating kids as to the value of money. Article source – Paying kids for grades: Capitalism in action by MoneyBlogNewz.

Sounds like ‘School is your job’

Some say that a kid is going to school which is why it is very important to pay for grades. To be able to prepare for education that life becomes, a kid has to learn as much as possible. It is essential to pay for performance just like an employer pays.

Several parents are against the idea of a payment. They say that students have to learn to work hard in school for personal gain, rather than for rewards. With grade payment, could students be more prepared? Are internships that are unpaid what students are preparing for? Some employees feel abused because of unpaid internships. Is it really worth it?

Pay for good grades programs have been instituted in numerous public school systems to good impact, states the New York Times. Yet controversy has remained. While Urban League President Darwin Davis praised such efforts for mirroring the reward systems of United States capitalist society, Manhattan Institute fellow Sol Stern called it “an insult to every hard-working parent.”

Working for free is not great

Compensating kids for their work educates children how to work well. Moms and dads can do this to help their kids. In short, the lesson is that if you’re good at something, never do it for free. Children must understand the value of money if this is something they can understand. Money Crashers know how to help teach children the value of money:

  1. Money is king. Do not give teenagers gift automobiles or prepaid debit cards. The tangible feeling of handling dollars and cents as they purchase the things they want will help them understand the finite nature of money and help them visualize what it’s like to develop a savings.
  2. Jobs are essential. In addition to earning money for good grades, if children need more money, they should find part-time employment. Younger children might simply do yard work to earn a little bit if they’re younger and do not get an allowance. Teenagers can get a part-time job. They might even consider a paper route. Some children will understand money better after working for it. They will know what it takes to get a dollar.
  3. Charity. By donating time or money, children can learn about doing well. Children will learn how to appreciate money and education when they learn to be selfless.

Articles cited

Money Crashers

New York Times

Exxon is paying high school students for grades

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