So, the kids who are now on “stay home” orders are continuing their education through online learning during the day, but what are they doing with their evenings?

I would assume many kids would want to play, and I would presume many parents would want them to do chores! What might be a common denominator?

What do kids want just as much as their parents? A job and money! Financial literacy for children during the early stages of life is about teaching them how to earn, value and manage money.

So, as parents have been doing for generations, the idea of getting a new generation of kids to carry out some light household chores as a way of earning a little pocket-money, could be making a comeback.

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

The easiest way to do this would be to set up an afternoon and evening “House Assistant” schedule, together with a payment plan that fits your budget.

You could pay them in cash or in today’s online banking world, you could set up a bank account for them. Taking into account their respective ages, you could even set up an account with a debit card, so that they have direct access to their earnings.

What a bittersweet time to teach your kids the essential elements of household & 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, thisisthebronX.info 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.