Bribery, incentive, budgeting, dependency, responsibility; these are just a few of the buzzwords surrounding the controversial parenting topic of using money to reward children for good grades and good behavior (allowance). It’s a highly discussed topic, and the short- and long-term effects of using a monetary rewards for children are disputed far and wide. This month’s KRC PulsePoll findings reflect trends in what monetary rewards adults experienced growing up, as well as what parents are rewarding their children for today.
- Adults Are All-In for Giving Allowance. Two out of three (67 percent) parents report rewarding their children with money for allowance. Allowances, usually given to children for keeping up with household chores and responsibilities, were found to be more popular today than rewarding kids for good grades.
- Good Grades Pay Off, Too. Parents are 18 percent more likely to provide allowances than financial rewards for good grades. However, nearly half (49 percent) of parents still report using money to reward their children for receiving good grades.
- Childhood Rewards May Instill Long-Term Importance of Earnings. Nearly three in five (58 percent) employed adults say they received allowance as a child—that is 15 percent more than adults who are unemployed.
- Academic Performance Rewards May Be A Newer Trend. Sixty-three percent of Millennials and Gen-Xers report receiving money in return for getting good grades as kids—that’s 36 percent more than older generations.
To learn more about the KRC Pulse Poll, visit www.krcresearch.com.
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