Between parents and children, there are often disputes about pocket money. Do you need to give pocket money? Is it worth saving on them?
Teachers and sociologists are united in the opinion that the child should have pocket money. Thanks to the availability of money, the child learns to make a decision on a reasonable purchase, we are talking about acquiring a very important life skill. Without providing the child with absolutely no cash, you risk developing an unhealthy attitude in him in the issue of finance.
Here are a couple of tips for parents regarding pocket money:
Parents, keep in mind that pocket money is not a means of punishment. If the child, for example, has received a bad mark at school, then do not reduce his pocket money: this will contribute to the appearance of uncertainty in planning purchases. And, on the contrary, for good marks, you should also not increase the amount that is being supposed to be.
Pocket money should not be a reward for the work performed at home. In the adult life of the child, no one will reward for the performance of household duties. Teach him to this.
The money earned by the child, read “How to make money on the Internet” or received as a gift should not affect the size of his usual pocket money. If in this case you take away the money due to him, then he will decide that there is no point in developing at all.
The amount of pocket money should not be large. There should be exactly so much pocket money so that the child can afford such daily joys as going to the cinema with friends, the purchase of ice cream or CD disk. Too much amount will not teach the child to handle money, on the other hand, there should be enough money so that the child can begin to postpone it for any purchase, this will teach his savings and planning funds.
Do not force young children to save. They must learn this themselves! You can tell older children about the importance of saving, but they should also decide on it on their own!