AdvisoryExcellence.Com-Owned-Image-iStock-1237546531-Image-Purchased-23/08/2023-Complete-Ownership-via-iStock

Should We Pay Our Children for Good Grades in School?

All children are different, some do very well in school, while other children have to be motivated by their parents in various ways.

Parents are constantly coming up with new ways to motivate their children to study better and get better grades in school.

Some parents decide on punishments in the form of confiscation of phones, laptops, tablets, TVs, and any kind of technology, but this can especially demotivate children.

For some, this option can work, but not all of it is long-lived to be maintained in the long run.

Therefore, one of the better alternatives and ways is for parents to pay their children when they get good grades in school, which has proven to be particularly motivating.

As many parents give pocket money to their children, they would not give special prizes if the children get better grades than in the past.

Even experts believe that this is an excellent move and a way to motivate and encourage children. When children know that some form of reward will follow, they will work harder at learning, curricular and extracurricular activities.

Offer Them the Option of Additional Income if They Start Training in A Sport

Children spend more and more time in front of computers and laptops, playing outside with other children less and less.

Even when they go out to play in the park or in front of the school, every child has a cell phone with them and stares at it instead of enjoying it with their friends.

Older generations used to come muddy and dirty from playing with their peers, this has changed with the newer generations, which affects their health a lot.

Younger children have more and more problems with the spine, motor skills, fitness, and concentration. Therefore, we advise you to give them the possibility of additional earnings in addition to the allowance if they enrol in a sport of their choice.

That way, even if they don’t like the idea at first, they will accept it because of the extra income, and then eventually they will love the sport.

Because thanks to children’s credit cards, parents have tables of activities and duties that they can fulfil following the age and needs of their children. All tables are easily adaptable to all ages.

Thanks to this type of offer, parents can monitor the activities of their children on the account, educate them financially and provide them with additional income if they study well in addition to doing household chores.

Children’s Credit Cards as A Tool for Learning About Finances and A Way of Earning

Credit cards are an improved version of piggy banks, and their possibilities are numerous.

A credit card for kids is designed to teach children about finances, how to handle money rationally, and teach them how to perform chores and obligations within the given time limit.

Within the offer, there are various tables of obligations that parents can adjust as necessary to each child’s age.

What is innovative is that parents, in agreement with their children, can make a table for grades, where parents will pay for any grade that is above the average.

How to Make a Credit Card for Children?

The process of creating this type of card is very simple, parents connect their account and provide the basic information about the children.

The basic data of the children that must be given are name, surname, date, place of birth, and place of residence.

After the parents provide all the necessary information, they activate the account by paying money into it. And boom, the account is ready for the kids to use.

What Can Children do With This Type of Card?

The possibilities that children have are very diverse, from creating a savings plan, spending, investing in shares, donating money to the needy, and the possibility of earning.

Children can earn money by doing housework, getting good grades in school, and coaching a sport.

With the offer within the BusyKid option, there is a BusyPay option where a third party can deposit funds into the account.

What is required is the corresponding QR code for the transaction to be successful.

This is an ideal way for children to earn money on their own by doing part-time jobs such as babysitting, pet sitting, helping neighbours with lawn and fence maintenance, dog walking, selling lemonade, or tutoring other children.

Conclusion

By giving children a card, you give them trust and responsibility, which children will know how to appreciate.

If you make an agreement with them to pay when they are successful in school, it is additional income for them and it will encourage them to do better in school and study better.

0 replies

Leave a Reply

Want to join the discussion?
Feel free to contribute!

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.