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Pocket money: when & how much? | Raising Children Network

Date of publication: 2017-07-09 05:55

I had bought it from the savings of my pocket money. I often buy things for my little sister out of it. She feels so delighted whenever I surprise her with sweets, a pencil box and a fancy dress.

What is pocket money? - CYH Home

Parents must always ensure that they give comparable pocket money to their children. It should neither be too much or too little compared to friends. Giving more pocket money than friends will make your child spend more and consider money as frivolous and easily available. If your child gets less pocket money than his/her friends, it will lead to an inferiority complex and the child might start resenting you.

Pocket Money

Once I helped Jerry to pay his school fee out of my pocket money. His father was away on a tour and he did not have sufficient money. He felt so obliged.

The Importance of Pocket Money | HuffPost UK

There are many different views on giving or not giving children pocket money. There are also different views on if they should be required to work for that money or if it should be given as a gift with nothing required in return.

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There are many questions surrounding pocket money, such as when should children be given pocket money? Whilst this can be a personal preference, around the age of five or six years is a good age to start. Introducing the concept of the value of money will complement what your child will be learning in school in terms of their maths education. Children will be able to see a connection between what they have learned in school with what happens outside of school. The next question is how much money should the child receive?

Someone believe that giving children pocket money really has many advantages. With pocket money, children can buy their daily necessities such as pencils, little toys, and snack food they like. It will give children a certain freedom to select what they want, make them aware rules of the equivalent exchange. Since time to parents is very precious, giving pocket money to children help them to save time spent in shopping, but used in busy working and earning money.

Saving or spending pocket money, working part-time and dealing with banks are all part of the process of becoming a financially independent adult and having to earn and look after your own money.

With the development of our modern society, people’s living conditions become much more comfortable. But along with intense competition, parents have less time to consider children’s needs in all-round. One method to solve this contradiction is to give children some pocket money. Pocket money is useful to children. But whether the children are considerable enough to make correct use of these money. There are two viewpoints about the pocket money. Some people think that giving children pocket money will make them become luxurious. Others think that will not lead to such disadvantage. In my opinion, both of them are partially reasonable.

Haio ^-^, I usually save my money for the future but if I go to the cinema or I go shopping I spend my own money. Sadly I don t get pocket money Y-Y but I get money for my birthday and Christmas and sometimes when I go to visit my grandparents. I save my money in the piggy bank.

Hi !
My parents don t give me pocket money every week, even month. But sometimes, my grandmom gives me money. I save my money in a money box. I buy clothes, books and other items with my money.

Too much and many of the lessons that we as parents hope they grasp will fly out of the window. We want children to understand that they will sometimes have to put money aside to save up. The amount of money for a six-year-old should be quite modest. We are not attempting to turn them into the next Alan Sugar just yet, we are simply trying to develop an understanding of the value of money and how much items cost. In addition, we want them to discover the persistence and determination required to save up for something they really want, helping to support the feeling of satisfaction that comes from working towards and achieving a goal.

Become, NOT became.
I know why you want to make friend with her. She is so nice, thoughtful, considerate, hard-working and out-going. I m sure she ll accept your friend request.
Oh by the way, I m from Vietnam, too!

My pocket money has helped me to learn how to spend wisely and save simultaneously. It is easy to spend, but to spend wisely is a bit difficult. But to save money is more difficult.

I have a small job, I help my ancle in the summer and in special days. Every day at school I shopping, eating or drinking something and the other part of my money I save it!!!!

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