Stop paying kids for chores. Instead, let them propose tasks worth paying for and gift them one company share yearly so they think like owners, not hourly workers. Disney, WWE, Pokémon are examples kids might choose.
If you pay your kids to do chores, you're training them really unhealthy money habits because you're training people that they can trade their time for dollars and that's just outdated. Instead, train your kids to serve and to create opportunities. Here's one of the ways that I do that. Instead of telling my kids what chores to do, I allow them to go through the house and make me an offer. Well, they'll say, hey Dad, I noticed that this room is a little messy. I'll clean this for you so that you can focus on work this afternoon if you pay me five bucks. And yes, my kids really do bring these offers to me. The other thing that I do is every year I give my kids one share of any company that they want to buy. So we are talking about it and looking at it all year long. They are actually paying attention to what the news is about that company because they want to know what's going on with the company that they own. For now, those companies are Disney and WWE and Pokemon. But that's okay because they're learning to look for opportunities to create and they're looking for opportunities to serve and to invest in long term opportunities.
