The basics of handling pocket money for children: important rules

Content

Giving or not giving pocket money to a child? At what age can they be trusted and how much? Control spending or not? Sooner or later, all parents begin to think about these issues.

Psychologists are absolutely sure that it is important for a child to learn how to handle money in order to fully feel himself as a person. This is one of the moments of education and responsibility training, which means that a child needs pocket money.

Do you know what role finance plays for a child? Pocket money acts as a strong material stimulator, which is also part of the psychological education of children. With them, children feel more independent, independent and free from parents. Thanks to pocket money, growing personalities learn to handle them, spend them as intended and wisely. It is also the ability to count and calculate, save and accumulate your money.

We give out pocket money correctly

Psychologists' recommendations - before school age a child should not manage money - only from this period are children ready for responsibility.
The amount of pocket money for a child must be determined in advance, taking into account the family income, age of the child and the purpose of spending. It will be right 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 any ordinary day, in the middle of the week, this is necessary so that the child’s issuance of money is not associated with academic success (with summing up the results of studies, behavior for the week, etc.). For children of primary school age, 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 - daily ask what he ate, what he bought, and so on. It is better to do this in detail, because then the children will not be able to quickly come up with options for excuses for cheating. This is necessary in order to make sure that the money issued was not spent on alcohol, tobacco and other harmful nasty things.
Money should not be a means of influence. Studying and doing homework is the responsibility of the child, so 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 success in school and so on. For violation of discipline and other points there should be a punishment that is not related to money.
Do not give out money in excess of the agreed amount.

The soil of financial education - we teach children how to manage money wisely

Do not obtrusively and do not dispose of the child’s money. When giving children money once a week or a month, explain to him that this amount needs to be “stretched" for the entire specified period. And no longer delve into the situation, even if the baby spent everything in a few days. He needs to learn to manage them independently, and in case of thoughtless spending, transfer this experience to himself until the next “paycheck”.
If the child’s first situation is poor (he tries to manage finances wisely, but he doesn’t succeed even when the first euphoria passes and the first few “salaries” are spent thoughtlessly), then let him write down each expenditure in a notebook or notepad to see where the money goes.
To make children understand the importance, significance and value of money, entrust them with small purchases. Assign the child to pay out of pocket money for something important, but not expensive. The way a child buys for himself, for example, office, etc.
Over time, you will need to increase the amount of pocket money for the child as he grows up, because his needs will increase (but it is important each time to specify the reason for the increase and the time between grants). So you will teach your child to manage finances wisely, spend them not only on his entertainment, sweets and toys, but also pay for transportation costs, breakfast at school, movie tickets and concerts, provide yourself with stationery and books, buy gifts for friends, etc. . It is very important, because in this way the child learns to reasonably approach spending.

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Safety regulations

Money for pocket expenses is not only independence and a certain 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, it can be taken away or stolen. To prevent the child from having such moments, tell him about the following rules:

You can not show money to outsiders (children or adults), to 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, you do not need to carry money for running expenses or leave it in your outerwear pockets (buy a wallet for your child).
Warn your child that if they threaten him and demand money from him (unfamiliar children or adults), then let him give them away without resistance. The health and life of a child is much more expensive than some bills. But what's more expensive - it is priceless.
Also remind the child that it is strictly forbidden to borrow money from unfamiliar adults or give theirs in exchange for a promise to give them back soon.

Remember that money for pocket expenses of a child is an opportunity for him to learn how to use it. So he will be able to get acquainted with the value of human labor, plan, control costs and simply competently handle finances.

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Yana Vuyeva talks about how to instill a child with a sense of budget and a sense of stability, as well as the ability to manage money and understand that something is possible, but something is impossible. How to teach a child to use pocket money?

Elina 12/04/2017 at 10:38

For example, we have this way, we give the nth amount once a week, and let it distribute it as we wish, but at the same time we look at where it spends and on what, at the moment it seems that there are no problems. In general, I believe that we need to communicate more with children and then everything will be fine.
Andrei 12/04/2017 at 10:51

There are different opinions on this subject, often directly opposite. Much depends on the parents, their own attitude to money and to the child. Some parents prefer not to give the child any money whatsoever (“lose,” “buy something wrong,” etc.).
Thus, parents try to control the lives of their children, but this is a serious mistake. In the future, such a position will lead to conflicts, secrecy or infantility of growing children. I believe that parents should trust their children, in particular in financial matters. The amount of pocket money should gradually increase with the age of the child.