And the winner is…
Earlier this month, Coralee asked the Parent Community:
“Is there an option for kids to ‘bid’ on chores in FamZoo? My kids have decided we should do this (based on the show, ‘No Good Nick’). I was thinking it would be great if there was a way for the kids to electronically (secretly) send their bids to the parents, and then the parent could select and award the chore to the lowest bidder.”
Cool idea! My suggestion: use a chore checklist coupled with money requests.
First, advertise the available odd jobs — like “weeding the garden” — on a checklist shared with the family. No need to include the reward amounts since those will be determined by the winning bids.
The kids can survey odd job opportunities by signing into FamZoo and reviewing the open entries on the shared checklist.
To make a bid, an enterprising child can launch a money request by tapping the right arrow (→) button next to their account.
Up pops a Money Request form where the child can fill in a proposed amount and lobby their case in the Reason field — perhaps throwing a sibling or two under the bus along the way. Something like: “I’ll pull weeds for this amount. And, remember, I’ll do a better job than my goofy little brother, so I’m worth more!”
The selected parent receives a text message and an email for each bid placed. Parents can also review bids in the FamZoo app(lication) on the Money Requests listing screen.
Once reviewed, let the winning bidder know they secured the job.
When the work is done, check off the chore item, approve the winning money request, and decline the other requests.
What makes a winning bid? Not just a cheap price tag. Quality work counts. This is a chance for your kids to hone their written negotiating skills.
That said, don’t get snookered. After all, the main character in “No Good Nick” is a teen con artist. That’s why it’s handy that a money request can be partially approved if the work was not up to snuff. 😉
See how to set up a chore checklist HERE.
See how money requests work HERE.
Worth every penny.
While you’re fielding odd job bids from your kids this weekend, consider this Warren Buffett classic:
“Price is what you pay. Value is what you get.”
Whether the weeds get pulled at a fair price or not, you’ll reap plenty of compounding value if the kids learn a little something about work and negotiation along the way.
Dear Bill...
Got a question, comment, concern, bug report, suggestion?
I’m no robot, just an everyday dad on a youth financial literacy mission. Hit reply, and I’ll respond.
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Best to you and your family,
Bill
Founder, FamZoo.com
