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We Remove My Page Contect at My Gmail – with resion. The new version primarily caters to profes. Giving pocket money to children as young as 4 or 5 years helps them start learning about the value of money and money management.įor example, when children get pocket money, they have to make choices about spending or saving. And if they’re saving, they’ll learn about waiting for things they want. Pocket money can also help children learn about consequences, including the consequences of losing money or spending it unwisely. Making a few mistakes is part of the learning process for your child.Ĭhildren learn a lot about money management by watching how you use money. Spending all their money today means there’s no more until the next payment.It’s important to save money and not spend it all.There are no hard and fast rules about when to start giving children pocket money.Ĭhildren might be ready to try managing pocket money if they can understand these messages: For example, if your child sees you setting a spending limit or shopping around for the best price, you help your child learn about sticking to a budget. Learning about money and developing financial literacy from a young age can help children develop responsible money habits and attitudes for later in life. And managing pocket money is a great way for your child to start developing a general sense of responsibility and independence. This depends on your circumstances and what you think is reasonable.

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