Does your child need pocket money? 30 November 2009
Should or shouldn't I give? When should I begin and how much should I give? Parents often ask themselves these questions. The truth is giving your child pocket money has its pros and cons.
Here are some cons, proposed by parents:
- Giving small children pocket money is not good, because they can’t decide reasonably enough what to spend the money on. It is their parents who should buy them everything their children need.
- Paying too much attention to money is not good, because children will grow up greedy.
- If parents always give their children money, the children will become spoiled and capricious, they won't be able to control their wishes and desires.
- Children have not earned the money, so they can’t understand and appreciate the value of money.
- Nowadays it is dangerous for a small child to carry money with him. The child may have some problems- the other children may envy him, someone may beat him and steal the money.
Here are some pros, proposed by parents:
- The child will feel like a complete person. After all, everyone in the family carries money-mommy, daddy, his big brother.
- The child must learn to spend his money and to make his budget responsibly. He may make some mistakes, loose some money, but he must learn to take responsibility for his actions and all of this should happen while the child is still small with us being around to watch and guide him.
- If I don’t give my child pocket money, he may have some negative feelings- he may envy other children, become greedy, reassess the power of money. I would not be surprised if later my child commits some small or even big thefts.
As you can see, the opinions on "for" and "against" giving children pocket money are completely different. Each family decides for themselves. Every information, related to child upbringing can be useful for making the right decision.
When should you begin and how much should you give to your child?
There are two points of view. The first is that you should start giving the child pocket money when he learns how to count and the other-when he starts school. Usually these two important moments in children’s life happen at the same time.
How can you understand if your child is ready to have some money he can spend on his own? Ask your child to do the shopping in the store. Can he do it by himself, can he calculate how much money he needs? If you think he is not ready, explain to him very carefully why you refuse to give him pocket money. Tell him what it is he needs to learn, so that he can have his own budget. Probably you will start "financing" your child for helping you at home. Every year, at his birthday, you can make the sum bigger.
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