Pros:
- Provide a systematic tracking of tasks completed
- Structured reward system to keep children motivated
- Can be a useful tool for classroom teachers when certain projects that require home involvement
- Teach kids financial responsibilty through earning what they want
Cons:
- Kids may become too extrinsic motivated where every task must have a reward
- Cultivating greed for money at early age may not be healthy.
- Parents are too calculative and not generous to them.