The poor are poor, the rich are rich

Chapter 83 1 How to give a child's pocket money

Chapter 18 Giving children money is not as good as teaching them the skills to make money

Chapter 181 How should children’s pocket money be given?

Nowadays, parents will give their children some pocket money when their children reach a certain age. Since the situation of each family is different, the time, method and amount of pocket money parents give their children are also very different.But there are also common problems, that is: how to give children's pocket money, how much should be given, whether to limit how children's pocket money should be spent, etc. If these problems are not handled properly, it will affect whether children can reasonably control Pocket money, can develop good financial management habits.

First, when to start giving your child pocket money.Regarding this issue, child psychologists believe that children should have the right to control pocket money in the fourth grade of elementary school.At this time, the financial management concept that money can be exchanged for things has formed in the children's minds.At the same time, as children grow up, they spend a relatively longer time living independently from their parents. During the relatively independent time period, they may face some things that require money.At this age, children also begin to plan for the future and have a certain ability of self-restraint.At this time, parents can properly give their children some pocket money for their disposal.

Secondly, how much pocket money should be given to the child.This issue is very important. Pocket money cannot be given as you want, it is best to give it out regularly.Pocket money should not be too much, too much money will cause children to spend money lavishly.So, how much pocket money is more suitable for children every month, parents can find evidence from the following aspects:
First, understand the general pocket money level of students in the same city, school, and grade. It is best to keep the amount of pocket money for children around the average level.

Second, understand what legitimate consumption children often have and how much these consumption items cost.

Third, according to the age and growth of the child, determine the standard of pocket money that is not used.

Finally, teach your child to create a financial plan.While giving children pocket money, parents should guide the use of pocket money, help children make consumption plans, and let them establish correct judgment standards for what kind of money should be spent and what should not be spent.Consumption plans should include the amount, time, and detailed uses of money.When the child is relatively young, parents can discuss with the child and consider as much as possible the child's opinion on the control of the money.When the children are a little older and can draw up plans independently, let the children draw up their own consumption plans, and the parents will play a supervisory role to see if their consumption is going according to the plan, and summarize and put forward suggestions for improvement.

(End of this chapter)