Chores or no chores? The economic psychology of giving kids pocket money

SolStock/Getty When I was growing up, many kids earned pocket money by babysitting, mowing lawns, walking dogs or washing cars for their neighbours. Part-time jobs delivering local papers or circulars (junk mail) were also popular. At home, some kids got a weekly allowance in cash that increased slightly each year. Others didn’t – the amount and the “inflation rate” of these payments depended mainly on how wealthy a family was. The norm for me and my friends was that you did the chores your…