Fantastic Fees And How To Use Them

scared pig

Today’s topic is about fees.

  1. Intro: History of fees
    1. Moneypants always experimenting, trying to improve what we have and be more effective, constantly updating the app, take day on journey, what we’ve tried and worked
    2. Initially hesitant to include fees in the app
      1. Don’t want parents to focus on punishment
      2. We’re about motivating people to be best, not about punishing
    3. Story about kids getting up to table
      1. Punishment led to kids pushing limits, go right up to edge
      2. Threatening punishment not nearly as effective as earning a reward
    4. BUT…there is time and place for fees
    5. If kid stabs sibling in leg, can’t say, “I’ll reward you for not doing that again”
    6. Reasons for fees:
      1. Fighting, lying, stealing, disobedience, bad language
    7. Oldest daughter would push limits
  2. What did NOT work
    1. Digital fees
    2. Delayed fees, paying on payday
    3. Earn back fee – Chelsey Woolley
    4. Not having something setup ahead of time (pre-determined amount)
      1. When you are upset, not best time to be deciding that amount
    5. Unlimited fees (escalation)
  3. What DOES work
    1. Immediate
    2. Pre-defined and agreed upon
    3. Cash, rounded to nearest dollar
    4. Limited to three per day, but double each time
    5. Permanent
    6. Fees should be used sparingly (last resort)
  4. Rewards more powerful than fees – case study
    1. Mahonri loves to hit, full of testosterone
    2. Charging him tons of fees, all his money
    3. Movie night: contingent on NO fees
    4. Combining rewards with fees
    5. Lowest fee count for Mahonri
  5. What to do when you collect a fee: teaching moment
    1. Ask, “What’s this for?”
    2. Tell them, “I don’t like collecting fees”
    3. Have discussion with kid
    4. 5 steps of being a peacemaker
  6. Fee money: Where does it go?
    1. Up to you
    2. I use it to fund outings
    3. Hannah uses it to buy books to add to our library
      1. Little House on Prairie
      2. Steven Kellogg
      3. Indian in the Cupboard
  7. Parents should get fees, too
    1. Want to smack kids with newspaper
    2. Want to use language from my days as a sailor
    3. “I don’t want a fee, I’m getting upset, THEY should get a fee”
    4. Hannah’s mother getting a fee
Phontaine Judd

Phontaine Judd

Phontaine is co-creator of Moneypants and the proud father of 7 sons and 6 daughters.

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