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It really depends on the type of kids you have. I know for me when I was younger it would not have worked for me. My parents had the it's normal to get good grades mentality stamped in my head.
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IMO its very important to teach kids how to set goals and reach those goals. In the real world if you got a D you wouldn't get ice cream. I think its good to give kids money and teach them about savings and how interest works if they save their money.
We are now seeing the first generation of the kids that have recently graduated that think the world owes them. Things should be handed to them because they deserve it. Parents of this generation have really sheltered their kids from the real world.
they don't know have to handle disappointment or failure.Comment
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The Freakanomics movie did a study on how money incentives boost grades.
They picked a class of 9th graders and followed 2 of them in more detail. All the students were told that they would be paid $50 each quarter if they kept at least a C average grade in all classes. With great fanfare, at each payout period, they also had a drawing of all qualified students. The winner got a big check for $500 and a hummer limo for the day. Doing well was sensationalized.
Overall they saw a 7-9% average increase in grades across the cohort. However, money may not have been the only incentive. They followed 2 boys. 1 boy was a total skater, class clown. He liked the idea as did his mother who offered to double the payout. The kid tried for 1 quarter, boosting 1 grade, but then decided that being a class clown and "cool" was more important than getting good grades.
The other boy was enchanted by the limo and set it as his highest goal to achieve the grades to qualify for the raffle. First check in, his grades raised, but he was short, but he was not discouraged. He finally boosted his grades and won the raffle.
Incentives matter, but you have to know what incentivizes your child and how frame the reward properly.Comment
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