FORUM Credit Union's website works best with JavaScript enabled

Paying for Good Grades: What to Consider

It’s seems harmless enough: you want your child to do well in school so you offer them money for good grades. So, is paying for good grades the best solution for you and your child? Here are some things to consider:

What is your goal?

If you believe that good grades are the ultimate indicator on whether or not your child is doing well in school, it may make sense for you to reward them for every A on their report card. However, if you believe that your child needs to change their attitude or make more of an effort, grades may not be what rewards should be based upon. Before deciding on the reward, ask yourself, what is the goal for your child in school?

What are you teaching?

You may want your child to view school as their job and teach them that if they do well at their job, they will be rewarded financially. However, consider whether this method is teaching them the value of education. Good grades now mean getting into a good college, getting into a good college means higher pay later in life. The more education you acquire, the more likely you are to have a better paying job in the future. So, do you want them to view education as a job or something more than that?

Is it better to reward or punish?

You have probably struggled with this question since your child was a toddler when you first considered how you would discipline them. Do you reward them for good behavior or punish them for bad? Knowing your child and what they respond to can help you in your decision on whether you reward them for good grades or if you punish them for bad.

As you know, some children respond best to acknowledgement and praise, and you may not need to reward or punish them but simply encourage and acknowledge their efforts. Ultimately it is your decision on whether you want to incent your child with money for good grades. Just make sure you think about what message you are sending by doing so, and if it is the right one for you and your family.

Posted: 8/16/2013 with 0 comments

Categories: Kids and Money

Blog post currently doesn't have any comments.
 Security code