Schwab survey says kids with chores become money smart

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.