Should we give allowance to kids?

I am writing not to offer advice this time but more in a seeking capacity, so anyone who has insight and can offer some feedback on allowance giving, please do.
I have teenagers, and I struggle with whether to give the allowance or not.
I have always been against:

  1. Paying for grades, I think it’s my kid’s responsibility to do their work and bring in good grades, and I don’t think they should be paid for this, am I wrong?
  2. Paying for chores, I think they need to contribute to the home as members of our community, and again don’t feel I should need to pay for doing what they need to do.
  3. So with me being against these things, how do I encourage and develop money management skills if they are not working? What are my options here?
    I have thought about giving them a weekly allowance as a matter of course, then deducting as behavior and grades fluctuate. Is this a good strategy? What do you guys do?

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