Children and allowances

Everyone likes to be rewarded for a job well done. Children are especially keen on rewards. They enjoy anything from a sticker to a small allowance for helping out around the house. I never had any problem giving my own children a small allowance when they went above and beyond in their chores, while I did expect some chores to be done purely for the benefit of the whole family.

With PAYjr, you can assign an allowance to a Target gift card for your child, based on his performance with his chores. You can print out a Chore Chart from the PAYjr.com site. You can also add funds to the card automatically, electronically, and directly. The card is free, by the way.

I really like the fact that you can also assign only a certain amount for spending and the rest for savings, so your child can't spend every dime he earns. This helps establish a habit of saving and helps the child learn the real value of money. You can even set up reminders on the site. It's all in your control.



Foster an entrepreneurial spirit in your child through this system. I wish I'd had access to something like this when my children were young.