Kareen MillsFounder & CEO, Friendsgiving Live® · Most Influential Filipina ’23 🏆 Founder of the World’s Largest Friendsgiving Festival for Women | Angel | Keynote | Sugar Mommy™ Media | Psalm 25:1 ✞

Money hack I bet you didn’t know, Part 7 🤑

31 May 2024 · 1 min

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1:01

In this short video, the speaker presents a parenting and personal‑finance tip: parents should stop paying their children for completing chores. The argument is framed as a "money hack" because, while the primary goal is to teach children a strong work ethic, teamwork, and responsibility, the secondary benefit is financial. By not treating chores as a paid gig, kids learn to view household tasks as a contribution to a team, mirroring workplace expectations. Over time this fosters independence and self‑sufficiency, reducing the likelihood that adult children will rely on their parents’ income or move back home, thereby saving parents money in the long run.

Chapters

One money hack I bet you didn't know, part 7. Never pay your kids for doing their chores. Okay, maybe this is something that you already know, but I bet you're not doing. This is a hack for your kids, not for you, because you're teaching them work ethic and the basic necessity that needs to be done in the household. They're also learning being part of the team and being a contributing member of a team that can be used and installed in the workplace. But here's But the fun part and the kicker, as a byproduct, you get your life back because now they're self-sustaining as soon as they become bigger kids. Eventually they become self-sustaining, independent from you. The likelihood of them moving back home is very low. In the end, it's a money hack for you after all because they are independent from mom and dad's bank accounts.