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Motivate Your Kid To Work With A Money-You-Could-Have-Earned Account

“Opportunity is missed by most people because it is dressed in overalls and looks like work.”
~Thomas Edison

Is your child passing up opportunities to earn a few extra bucks around the house?

You: “I’ve put together a list of odd jobs above and beyond your unpaid chores. The amount I’ll pay you is next to each one. See? Like $4 to wash my car. Whaddya say?”

Your kid: “Nah, I’ll pass. Doesn’t seem worth it.”

Sounds like it’s time to set up a Money-You-Could-Have-Earned account. It’s a way to teach your kid that a few dollars here and there add up to significant dollars over time — especially when you factor in forgone compound interest.

Here’s how the system works in FamZoo (but you could do the same thing manually with a spreadsheet or even a notebook):