How To Get A Good Idea Of The Value Of Your Time

I've been experimenting with my 2 oldest kids on how to get them to recognize the value of time and money. My father taught me with a flat rate system: Do this work, you get x amount of money. He told me the harder I worked, the faster I would get my money and could make more. The first go, I slacked off and had little to show for a days work. The next day I realized how long it was going to take and busted my butt (and back) and managed to have it done by early afternoon. That has stuck with me with any work I have done since.

I'm thinking of doing the same with my kids but instead using an item instead of a dollar amount. If you do this, you get this, and they can see what it takes to get something they want and when we go to get it I will explain how much it is and that the work they did was worth x amount of $$. My son, the oldest, especially could use this lesson as he is good at saving until the newest thing comes out and he has to have it.

"Piece Work" is definitely a great way to motivate especially for family and yourself. It can be trickier with hourly employees as you want to maximize your profit while being careful that the employee does not make less then minimum wage at any given time.

Oh I know that! This was just an idea for my kids. Whatever I get them to do/pay them will be fair but not low. I want them to learn the real value of time/money.

The scrap G-d smiled on me last night. My neighbour who I just give stuff to or sell real cheap as a favour came over and gave me a wall-mounting can crusher as a thank you for the big filing cabinets I sold him for just over scrap price. Score! Now even my 5 year old daughter can crush cans! She is too small and light weight yet to crush a can. She was quite upset her big sister could do it and she couldn't.