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How to Give Pocket Money to a Child: Few People Think About It
14.03.2024 18:32
Parents often wonder why their children don't appreciate what they have and constantly ask for something new.
You need to remember this the next time you want to give your child some money for so-called pocket money.
What parents should focus on when giving their child money for expenses - here's what experts say about this.
First, awareness
It is wrong if money is given to a child, as in the accounting department. The main message is trust and the desire to teach children to manage their first savings.
No need to give out crumbs, explaining what to spend them on. Be sure to tell them that they don’t need to waste everything on the first day.
Secondly, only on schedule
Keep track of your expenses – this will help you to imagine how much money your child has.
But he himself must distribute the received amount. Therefore, you should not give money more than once a week.
Of course, at first the money will run out earlier, and it is possible that you will be asked for more. But stand your ground and do not make new tranches before the agreed deadline.
Third, focus on value
The child must learn that money must be earned. Only what goes beyond his responsibilities must be paid for.
It does not count if the child has tidied up his room or done his homework. It is advisable to discuss all this in advance.
And finally, as always, you need to teach your children how to manage finances and plan expenses by personal example.
It is imperative to talk about utilities, expenses for clothing and food, and transportation.
All this will be useful for children and will definitely come in handy as they grow up.
Earlier we talked about what to give a teenager for his birthday .
