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money for exam results?

Should you reward your kids with money for good exam results?

Many children up and down the country are preparing for SATs, GCSEs and A-Levels. With the sun starting to make an appearance, it’s a hard time of year to be knuckling down and doing lots of revision. So, should you pay your child to work hard and achieve good results in their exams? We talked to many parents (and some young people too) to see what they think:

Pros of paying for good exam results:

  • Paying your child to work hard in their exams is one way of teaching them that their hard work really does pay off
  • If your son or daughter is struggling with motivating themselves, giving them a financial reward could really increase their rate of success
  • In a discussion published on Guardian Money one parent suggested “Give your daughter a reward after the exams but before the results are released. That way you are rewarding her efforts at revising and showing you will be supportive when the results come through…”
  • When we asked our facebook following what they thought, one of our younger facebook followers thought it was a good idea saying her parents often reward her

Cons of paying for good exam results:

  • If children don’t achieve the grades to receive their financial reward, but have worked really hard and done their best, it might make them feel like they’ve failed in some way
  • One facebook follower suggested that offering payment for exam results adds to the pressure children are already feeling about doing well
  • Another parent commented that “…kids should be brought up with the ethos that ‘hard work’ and the consequential results are in their own interests!”

Whatever you decide to do with your own family, we hope that this article has helped you weigh up your options and come to a conclusion that works for you.

goHenry, a unique earning, saving and spending solution. Perfect for parents with children from 8-18.

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