Last week I was browsing the USAA site to check out their Auto Loan rates when I stumbled upon a post, Should you pay your kids for good grades? My automatic response was “YES!” But only because growing up, I got paid for my grades.  Which I would say was very generous :

As – $50

Bs – $30

Cs – $10

Ds – $-20

Fs – $-50

I worked for the grades I got, and yes, there were times where I slacked off.  But knowing that if I did, my monetary reward wouldn’t be as great as if I got an A.  I know I never learned how to manage my money very well. (I can’t help it, I just love to shop!) I know how to budget and plan for needed expenses, but I just never stuck with it. I understood the value of it. And working hard enough, I will get rewarded for it. I do see both sides of the coin when it comes to paying for your child’s good grades, I mean, getting good grades SHOULD be expected, and it IS. Especially if you know how well your child can really do once they put their mind to it. But there is just that extra bonus lingering in the back of your mind.  

I think this is something I’d like to implement with my children, but first I want to talk to the bf about it and see what his take is and also talk to their dad about it.  But I don’t know how to rate it.  The grading system in their elementary school is NOT like how it used to be.  Before we’d get the ABCs, now… its Below Basic, Basic, Proficient, Above Proficient… I think… so I’d have to double check. And the numeric range for that grading system doesn’t make sense to me at all! I’d have to research is a little more so that I can find and adequate compensation for their grades.

Hmmm…

Overall, I think it’ll help the children learn about money.  My monkey is already on the verge of it.  He knows that the money he earns doing chores can be saved to buy something he really wants. And my diva is already talking about using money for the “important” things first, and if there is extra left, then we can indulge.  If I can teach them about different ways to handle their money, then they’ll be better off when they get older.  Because I’m just recently learning how to really take care of my money, my parents would give me money when I was younger whenever I needed it, earned it or asked for it.  But they never sat down with me to TALK about money.. And I think that’s the difference that I need to do with my children so that they can learn to handle their money better then I had done. And that is one thing I can do with my  own children to help them better understand money and how to manage it.