The Right Way to Bribe Your Children

The Wall Street Journal discusses how to give incentives to children in order to motivate them to take certain actions.  The article begins as follows:

To bribe, or Not to bribe? That is a question parents often grapple with.

And most end up giving in.

In a survey released in July by coupon site vouchercloud, 55% of parents contacted said they gave their children bribes—including allowances and other forms of compensation—to make them behave or to reward them for certain tasks or achievements. At the same time, however, nearly two-thirds said they would rather give their child less money.

Parents aren’t the only ones who think they’re going about it all wrong. Experts in personal finance also warn that too many moms and dads are using the wrong kinds of incentives and might have better success steering their children with a different approach.

Here is a closer look at what these experts recommend when it comes to incentives.

See more at The Right Way to Bribe Your Children – WSJ.

Posted by Lewis J. Saret, Co-General Editor, Wealth Strategies Journal.