Pocket money is a controversial issue for many families. Some of them immediately have doubts about whether it is worth giving money to a child and at what age it is better to do it. Children and parents sometimes have opposite views on this matter.
Instructions
Step 1
It is imperative to give your child pocket money. This step will teach him many things: how to manage money, prioritize what to spend money on and what not, teach him how to save and count money. After all, while the child does not have his own money in his hands, he has no idea how it can end and why parents should save on something.
Step 2
An important question here will be age: when can a child be entrusted with some amounts, knowing that he will not just give them to his friends and will not lose? In most cases, at preschool age, the baby is still too young to manage money on his own. He is attached to his parents, does not go for walks without them, and still does not count well. But younger students can already be trusted with small amounts. At this time, children become more independent, so pocket money will teach them discipline, give them freedom from their parents.
Step 3
It should be noted that younger students are just beginning to learn how to handle money. They still do not know how to plan and correctly distribute them. Therefore, they need to give money in small portions, but more often than teenagers. Let's say you agree to give your child money at the beginning or end of the week. It is unreasonable to give the entire amount for a month to a child of 7-9 years old - there is a risk that he will immediately spend it.
Step 4
The amount of pocket money depends on the financial capabilities of each particular family. But pampering the child too much is not worth it. Pocket money is not an amount for his maintenance; it should not become an attempt to bribe him or provide everything that the baby wants. Pocket money is an element of upbringing; it should not spoil the child. Therefore, even in wealthy families, very small amounts of pocket money need to be allocated in order to teach a child to handle finances competently, and not to show the family's security in front of other children.
Step 5
It is imperative to agree with the child on what pocket money should not be spent and for which he may be deprived of it. Money should not become a tool for manipulating a child, paying for good grades or behavior. You can deprive your pocket money only as a last resort: not because the child again did not put things in order in his room, and you quarreled, but because the child broke previous agreements and spent money, say, on harmful chips or worse, on cigarettes, although you forbade it. The cancellation of pocket money should be temporary - for a week or a month and only for educational purposes.
Step 6
However, parents should not be so strict about what the child spends his money on. They should not criticize his acquisitions - even if they are not as practical as the parents would like, but this is his money and his purchases. The child has every right to have his own desires and to dispose of his things and means. Even if the child does not spend money, you should not ask him for a report, maybe he is saving money for some serious purchase.
