Financial Focus: A New Job for the Kids: Housing Assistant

By Professor Anthony Rivieccio MBA PFA

With the kids under stay-at-ome orders and doing remote-learning during the day, what are they doing at night?

I would presume many kids would want to play. I would presume many parents would want them to do chores.

What might be the common denominator? What kids want just as much as parents? A job and money!

Financial literacy for children in it’s earliest stages is about teaching them how to earn and manage money.

So as parents have done for generations and probably more prevelant now, doing chores to make money,

Maybe $2 for doing the dishes? Maybe $1 for throwing out the garbage? Maybe $5 for cleaning the bathroom? You could now create that ” House Assistance” job and pay your children accordingly.

The easiest way to do this would be to set up a afternoon and night time ” House Assistance” schedule with a payment plan that fits your budget.

You can pay them in cash or in today’s online banking world, set up a bank account for them. Based on their age, you can even set up an account with a debit card so they have access.

It’s a bittersweet time to teach your kids the elements of home and fiscal responsibility.

Professor Anthony Rivieccio, MBA PFA, is the founder and CEO of The Financial Advisors Group, celebrating its 24th year as a fee-only financial planning firm specializing in solving one’s financial problems. Mr. Rivieccio, a recognized financial expert since 1986, has been featured by many national and local media including: Kiplinger’s Personal Finance, The New York Post, News 12 The Bronx, Bloomberg News Radio, BronxNet Television, the Norwood News, The West Side Manhattan Gazette, Labor Press Magazine, Financial Planning Magazine, WINS 1010 Radio, The Co-Op City News, The Bronx News, and The Bronx Chronicle. Mr. Rivieccio also pens a financial article called “Money Talk”. Anthony is also currently an Adjunct Professor of Business, Finance & Accounting for both, City University of New York & Monroe College, a Private University. You can reach Anthony at 347.575.5045. 

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