Grandkids can learn from chores

By Kent S. Collins

Dear Senior Forum: Why don't my middle-aged adult children teach my grandchildren about money? The kids are clueless about what it means to earn a dollar, save some of it and spend the rest wisely. What is a grandparent to do --- feel guilty? --- A.A.B.

Dear A.A.B.: Sure. Feel guilty. Then, intercede in an oh-so- subtle way.

You can't do what those middle-aged adult children should be doing. Parents control so much of the learning. They should be the lead instructors in money matters. But you can afford your grandchildren some measure of dollars-and-cents good sense.

Teaching them anything will require three things: access, regularity and imagination. If, for example, your access is severely limited by conflicting schedules or living far apart, you may not be able to have an impact. And, of course, any lesson will have to be reinforced every week or month for years to come.

Here are ideas from other retirees anxious to teach their grandchildren a few lessons in money management --- and money respect.

Idea 1: Grant the grandchildren a monthly allowance payable upon completion of chores around your home. Don't pay allowance for chores at their home --- that is intruding, and you can't enforce them. Pay allowance for a list of special chores --- like cleaning your garage or painting your front-yard fence. Don't pay allowance for some regular chores that the grandchildren should do as their responsibility on the occasion of every visit. For example: Serve them Sunday supper, but expect them to do dishes as a responsibility.

Idea 2: Promise to send an "allowance" to a grandchild to pay for a birthday gift for his/her sibling. That can be routine, one month ahead of the sibling's birthday --- possibly even of their parents. But warn the little darling that you won't pay if the gift is not purchased thoughtfully and on time.

Idea 3: Pay for good midterm and final grades, but don't pay for the grades on papers, projects and quizzes between midterms and finals. The hard work in between is expected --- a responsibility.

Any idea must be approved by the parents, lest they feel threatened or guilty about what you are trying to do. Keep the pay- for-work allowance plan out of their house and in yours.

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