Pocket money for children

Pocket money for children

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Pocket money for children is a sensitive topic, much debated today between specialists and parents. Many wonder if at 5-7 years, the child is not too young to understand what the value of money is and especially how to properly manage it. There are topics on which many parents have doubts and, therefore, they prefer to skip this lesson in their education! Wrong, say the specialists, who believe that it is advisable for the child to get acquainted with the money and learn and how to win them!

At what age do you start giving your child pocket money?

There is no ideal age at which it is advisable to start giving your child pocket money. But it is not advisable to take this step at an age when they do not know what they are and do not know, at least partially, the role of money. When the child comes into contact with the first coins or banknotes, it is advisable to know to count at least 20 or to be familiar with what shopping means.

According to specialists, the child is ready to handle small amounts around the age of 6-7 years. But many parents prefer to wait until they are 10-11, in the idea that as they grow older, they begin to understand better what the role of money is and how to manage it responsibly.

It is up to each family to decide which is the right age at which the little one will receive the first pennies. If you introduce them to the education of the child from an early age, you frequently take them with you to shopping, explain how they are made and what they suppose, the child will be able to manage the first amount before entering the school stage, on 7 anisors. .

Talk to them about money, get acquainted with them, show them and let them manipulate them. Take it frequently with you when shopping. After he goes several times to the cash register, let him pay and see how the process goes, even if he does not know how to do all the calculations. It is your duty to teach him how to use them, so as to make smart choices when shopping.

You can realize that he is ready to receive the first finances in management if, when you hand him some money, he is careful with them, he does not leave them anywhere, he does not play with them and knows exactly what they are used for. If he manages to deal with counts up to 20 and knows how to approach and interact with a seller, the child is prepared to make the first savings, but also spend the first pocket money.

Pros and cons of pocket money in children

Parents have different opinions when it comes to giving pocket money to children. While some parents are worried that little ones might buy harmful food or spend it on unnecessary things, other parents see in their pocketbooks an opportunity to teach the child their value and how to spend it responsibly.

Getting in touch with the money prepares your little boy for the moment he will come out from under your wing and face the real world. At a young age, the child believes that everything is right for him and that all his wishes can be fulfilled. Has low tolerance for frustration. By learning the value of money and the fact that they "do not grow in trees", the child has the opportunity to understand why he cannot receive everything he wants, which he can only understand with "good word" and so on.

Therefore, it is important for the child to learn how to earn their pocket money. Going by the philosophy that they "do not fall from the sky", it is important to consider that his family does not have an unlimited budget and that he can buy absolutely everything he wants. Help him to see and understand how to make money. When he feels on his skin how much work they earn, he will pay more attention to how he manages them and for what purpose he uses them.

Have him do various simple activities, appropriate to his age, in exchange for certain amounts of money. A propitious moment for this proposal is the moment when he ardently wants a toy. Tell him that if he wants it as much as he thinks, he has the opportunity to collect the money himself to buy it. It mentions the fact that you do not have that amount, but that in exchange for certain things they could do for you - tight toys, cleaning in the room, cleaning in the closet, help in the kitchen, etc. - can earn his own money.

Afterwards, when you collect the required amount, you will be able to buy it yourself. Pocket money teaches the child to become responsible in the choices he makes. When you learn their role and how to capture them, you will go shopping with him. He will have a certain amount, but he will definitely want to buy a lot more expensive things. It is the ideal time to teach him what it means to make responsible choices. Explain that each toy or thing you want to buy has its own price and show them the options for the amount available.

It is the moment when the child will have to make choices about what is most important or urgent for him and what is not. It is an important step in its development. Offering a sum of money or daily or weekly allowances to the child offers the opportunity to learn a lot of important things and to assimilate skills essential for maturity.

What amount of money is advisable to give the child first?

The amount the child should receive should be consistent with his ability to manage it. If the little one wakes up in front of very large amounts or with banknotes that he does not even know, you will not know what to do with them.

It is advisable to give the child banknotes and coins with which he is familiar. This way, it will give you a better idea of ​​what their value is and what they could buy with them or how much they need to collect in order to purchase the desired toy. Explain to him that, once you give him a sum of money, he can then spend it on a certain object, but he can also save them and thus save money, to buy more valuable things. Help him manage his money, save money and buy whatever he wants with all his heart.

When did you give your child the first pocket money and what did he buy from them? Tell us your tips in the comments section below!

Tags Money kids pocket Learning value kids money Activities kids money