![]() ![]() ![]() Although it may be hard to refuse to give them more money, leaving them to do without something will encourage them to manage their pocket money more carefully the next time. This will help the child to budget and manage what they spend. It is important that when you do give pocket money that you stick to the agreed amount and don’t hand out extra money throughout the week. The amount saved can be used to buy bigger treats or towards gifts for family members at birthdays, Christmas etc. For example, if the child gets €5 per week, then you could agree that €2 must be saved and the rest can be used to purchase treats such as sweets or a magazine etc. Don’t feel that just because an item is on the list that the expense has to be covered, you make the decision on whether this is a valid request or not!Ī good way to do this is to think about and agree what the money can be used for. This exercise will vary depending on the child’s age but it is a good guide to help you to decide what amount is appropriate. You can start by listing items they want to spend their pocket money on. So how much is appropriate? It is best to get the child involved in agreeing the amount with you. ![]() Allow you to agree a plan of what they need to do to ‘earn’ their pocket money.Give them a degree of responsibility for budgeting their own money.Allow them to make choices about what they want to spend their money on.Introduce them to the concept of managing their money.There are many benefits of giving pocket money to your child as this can: Factors such as your own financial circumstances, the child’s age and their grasp of managing money are all things that need to be considered. Many parents ask for advice about giving pocket money to their children. Children today have many demands, they want to have what their peers have and parents are under pressure to provide it all. Should you give your children pocket Money ?ĭo you sometimes feel you resemble an ATM machine to your children? Every time you enter a shopping centre, you come out with your purse or pockets empty. ![]()
0 Comments
Leave a Reply. |