To give or not to give pocket money to a child? At what age can you trust them and how much? Control spending or not? Sooner or later, all parents begin to think about these questions.
Psychologists are absolutely sure that it is important for a child to learn how to handle money for a full sense of himself as a person. This is one of the moments of upbringing and teaching responsibility, which means that a child needs pocket money.
Do you know what role finances play for a child? Pocket money acts as a strong material stimulant, which is also part of the psychological education of children. With them, children feel more independent, self-reliant and free from their parents. Thanks to pocket money, growing up individuals learn to handle it, spend it for its intended purpose and wisely. It is also the ability to count and calculate, save and accumulate your money.
We issue pocket money correctly
- Recommendations of psychologists - before school age, a child should not manage money - only from this period are children ready for the beginning of responsibility.
- The amount of pocket money for the child must be determined in advance, taking into account the family's income, the child's age and the purpose of spending. It will be correct if you discuss this moment with all the household members at the family council, including the child.
- The mode of issuing money is an important point. Give out money on some ordinary day, in the middle of the week, this is necessary so that the child does not associate the issue of money with academic success (with summing up the results of studies, behavior for the week, etc.). For primary school children, give out money once a week. For older children - once a month.
- You need to control the direction of the money spent by the child - ask every day what he ate, what he bought, and so on. It is better to do this in detail, since then children will not be able to quickly come up with options for excuses for deception. This is necessary in order to make sure that the money issued has not been spent on alcohol, tobacco and other harmful nasty things.
- Money should not be a means of influence. Studying and homework is the responsibility of the child, therefore, the child should not be encouraged or punished with pocket money. The amount of pocket money should not depend on the mood of the parents, the behavior of the child, his academic success, and so on. For violation of discipline and other points, there should be a punishment not related to money.
- Do not give out money in excess of the agreed amount.
The soil of financial education - we teach children to manage money wisely
- Avoid compulsive advice and do not manage the child's money. When giving money to children once a week or a month, explain to him that this amount needs to be "stretched" for the entire specified period. And do not go deep into the situation anymore, even if the kid spent everything in a few days. He needs to independently learn how to manage them, and in case of thoughtless spending, transfer this experience to himself until the next “salary”.
- If everything is bad with the first item (he tries to handle finances wisely, but he does not succeed and when the first euphoria passes and the first few "salaries" are spent thoughtlessly), then let him write down each spending in a notebook or notebook so that he can see where the money goes.
- In order for children to understand the importance, significance and value of money, entrust them with small purchases. Instruct your child to pay for something important, but not expensive, out of pocket money. The child buys the way for himself, for example, office supplies, etc.
- Over time, you will need to increase the amount of pocket money for the child as he grows up, because his needs will grow (but it is important to discuss the reason for the increase and the time between dispenses each time). So you will teach your child to manage finances wisely, spend them not only on their entertainment, sweets and toys, but also pay for travel expenses, breakfast at school, cinema and concert tickets, provide yourself with office supplies and books, buy gifts for friends, etc. ... It is very important, because in this way the child learns to wisely approach spending.
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Safety regulations
Pocket money is not only independence and some kind of independence, and not only the ability to buy something. It is also a responsibility and some danger associated with their wearing and storage. Money can be lost, taken away or stolen. To prevent your child from having such moments, tell him about the following rules:
- You can not show money to strangers (children or adults), boast about your money.
- It is better to keep money at home in a certain place (piggy bank), you should not carry all your savings with you, money for current expenses does not need to be carried or left in the pockets of outerwear (buy a wallet for your child).
- Warn your child that if he is threatened and demanded money from him (unfamiliar children or adults), then let him give it away without resistance. The health and life of a child is much more expensive than some bills. What's more expensive - it's priceless.
- Remind your child that it is absolutely forbidden to borrow money from unfamiliar adults or give your own money in exchange for a promise to give it back soon.
Remember that pocket money for a child is an opportunity for him to learn how to manage it. So he will be able to familiarize himself with the value of human labor, plan, control costs and just handle finances correctly.
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