Tips on giving pocket money
Here are some pocket money tips:
- Explain to your child what pocket money is for and what it isn’t for.
- Pay what you can afford, regardless of what other parents (or your child!) might say.
- Pay it on a set day.
- Set up some jars to help your child divide his money – for example, one jar for smallthings he wants now and one for saving towards bigger things.
- Put saved money in a dedicated container, like a money box. As the level grows, it highlights the achievement of being a good saver.
- Try not to give payment in advance.
- If pocket money is to cover entertainment or food, agree on what kinds of entertainment are OK.
- Try not to supplement pocket money – it’s all about teaching your child to live within her means.