Schwab survey says kids with chores become money smart

Kids doing chores teaches financial responsibility
Kids doing chores teaches financial responsibility

Here's an excuse for getting your house clean while being altruistic: Give your kids chores, and watch them learn the value of money. At least that's what the results of a recent survey seem to prove.

The 2010 Charles Schwab Families & Money survey found that 53% of parents whose children had four or more regular chores while growing up considered their now young adult children to be "very financially responsible," compared to 46% of parents whose children had one to three regular chores, and 39% of parents whose children had no chores. In other words, the more chores they did, the better the kids were with money -- at least in the parents' eyes. I bet anyone who ever did chores for an allowance or had a job as a kid can remember how it helped them learn the meaning of a dollar.