Hey Parents, Stop Rewarding Your Children for Good Grades with just Money: Add These Four Things to the Mix

Your child spends an average of 180 days in school during the academic year. It’s super easy to reward your child(ren) for getting good grades and their academic success.

Rewarding your children for their academic success can boost their self-confidence and morale. The most common way parents reward their children is with money.

Reward Your Child(ren) with Cash

Money is the most common option when/if parents choose to reward their kids after receiving good grades. If you decide to pay your kid for earning good grades, it can be an excellent way to teach them the value of money and how to manage it.

Raise Allowance

Another option for you is to raise their allowance. Adding an extra dollar to your child’s weekly amount can help them feel good about their success. If your child doesn’t already have a savings account, now may be the time to open one up for them.

If you raise your children’s allowance, it can help teach them what it is like to have a job, and you can talk about getting a raise based on job performance and success.

Giving money or raising an allowance are excellent ways to praise a successful report card, but here are a few out-of-the-box ideas on how you can reward your child for getting good grades.

Give Them More Independence

What child doesn’t like a bit more independence while also being praised for bringing home a great report card? One idea is to push back their bedtime. They’ve proven they are responsible, so give them an extra 10 minutes (or an amount time you decide fits best) before bed to draw, read a book, or do a quiet activity.

Pick Up a Small Gift

Is there something your child has had their eye on for awhile and keeps hinting at? After they bring home a good report card may be the perfect time to surprise them. It doesn’t have to be extravagant either; it can be something as small as a Lego blind bag, a Minecraft mini-figure, or a pop socket for their phone. Just something to let them know you are proud of them for a job well done in school.

Take a Day Trip

Spending quality time with your child is always a plus, but making an entire day out of it is extra special. Taking a day trip is also a great excuse to get out of the house (in a socially distant manner of course!). You don’t have to break the bank to have a fun day. There are plenty of free things to do around Northeast Ohio

Special Foods

Does your child have a favorite meal they love to eat, but you’re sick of it, so you try to rotate it out of your dinner planning? Making it for them is an excellent reward after they get good grades. Want to make it extra special…make their favorite dessert to enjoy later as well.

Need other tips on how to approach financial topics with kids? Check out our recent posts here.

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Posted In: FFCCU Services, Ignite, Tips For Managing Finances