Should you give your child pocket money or not? After reading this article, you will definitely change your mind

Investment guru Warren Buffett once said: "Pocket money is not only a freedom for children, but also a kind of education." This sentence reveals the deep meaning behind pocket money, which is not only pocket money, but also about the cultivation of children's values, consumption outlook and even life outlook.

So, at what age should the child start giving him pocket money?

Some parents feel that from kindergarten onwards, they should give their children pocket money, which can also cultivate their children's financial quotient, and some parents feel that it is better to start giving from junior high school to avoid letting their children develop the habit of spending lavishly, and the children are too young to keep their money, which is easy to lose.

In fact, there is no "one-size-fits-all" age for giving children pocket money. It's about finding a balance that gives children enough freedom to explore and manage their money, while ensuring they are properly educated and guided along the way.

For example, a mother whose 5-year-old son goes shopping with her parents and sees them using their mobile phones, cash or credit cards, she always asks curiously, "Why do we use money to buy things?" or "How does this card work?"

She and her husband were keenly aware of their son's interests and began to teach him some basic concepts of money in his daily life. For example, when I go to the supermarket, I ask my son to look at the price of the product and calculate how much it will cost in total. In this way, the son began to understand how much money is needed for what and how to choose the right items. As soon as these habits are cultivated, they begin to give the child pocket money, let him buy what he wants, and often hand over the "financial power" of the family to him, so that he can plan how to shop more appropriately.

Generally speaking, today's children will start to have a need for pocket money around the age of 6, because this is when they start to know more about things and have a desire to shop.

So from this time on, you can make preparations in this regard, as for how much to give, it can be determined according to the specific situation of the child, and the most important thing is to have this behavior.

Just like Professor Chu Yin of the Chinese People's University said: "You must give your children pocket money, and your children use their own pocket money to buy things, and they make their own decisions." Because any choice means loss, so that children can control their desires to a certain extent. Filling their lives with math is able to improve their ability to solve math problems. At the same time, it can also improve social skills. ”

Giving your child pocket money is designed to help them learn how to manage money, develop independence and a sense of responsibility, rather than just meeting their material needs. Therefore, parents have to tailor their pocket money plan according to their child's age, maturity and personality, and patiently guide them on how to use and manage this money correctly.

Generally speaking, parents can follow the following principles when giving their children pocket money:

Principle 1: Give on time and on budget

Depending on the child's age, you can give your child a fixed amount on a weekly or monthly basis. For example, if your child is 6 years old and is in the first grade of primary school, you can give him a fixed amount of 5 yuan per week as pocket money.

You can also give the ceremony a fun name to make it more ritualistic.

The purpose of this is to show your child that you can have so much pocket money fixed every week, so you have to plan how to use this money, if you use it all at once, then you will not have to buy things later.

This principle is to exercise children's planning ability and delayed gratification in disguise.

Principle 2: Give children the opportunity to pay for lessons

Dong Yuhui once talked about his concept of family education, he said: "In the communication with many parents, I found that they often find it difficult to restrain the guidance and intervention in the details of their children's lives, and they have to meddle in big and small things. Growing up is a process of trial and error, and when you avoid trial and error, you also hinder your child's growth. ”

The same applies to pocket money.

After giving their children pocket money, parents can secretly observe their children's spending behavior. Is the child spending everything in one go, or a little bit? In this process, it is important to allow the child to experiment and make mistakes with his pocket money. Timely guidance after making mistakes can help them recognize the problem and learn from it.

For example, when children buy something that is not practical in the eyes of parents, parents should not interfere too much. When the child buys it and doesn't play it a few times, you can tell him why this thing is not practical and what kind of thing we should buy next time.

At first, the child may not listen, and when he tries a few more times, the money is spent, but the things he bought are useless, so he will gradually change himself.

This "trial and error" process allows children to learn how to make decisions and manage their finances independently, while also developing their creative and independent thinking skills. The parent-child relationship will also get better and better in the process.

Principle 3: Keep accounts and review with your child

In addition to talent, the success of ski champion Gu Ailing is more due to self-discipline and planning. She once said, "Planning well and reviewing every mistake is the secret of my success." ”

Parents can give their children an account book, encourage them to keep accounts, and tell them how to keep accounts. If the child can keep a clear record of every expenditure and the ledger is complete, the parent can reward him appropriately. Through bookkeeping, children are able to better understand their spending habits and spending structure, so as to develop a more rational and restrained sense of money and consumption habits.

The review can help children discover their consumption mistakes and unnecessary expenses, so as to guide them to learn to save and consume rationally. Such a process not only gives children a better grasp of their finances, but also develops their analytical and decision-making skills, so that they are fully prepared for the future.

For example, parents can review their spending with their children at the end of the week to discuss which money is not necessary to spend, what is the consumption that makes him feel happy, and what is the plan to save for large items.

Help your child distinguish between "need" and "want." Through practice, children not only learn how to consume and save rationally, but also develop a sense of long-term planning and wealth accumulation. In the process, the parent-child relationship has become more and more intimate.

Parents can also download some financial games or apps designed for children to help them learn financial knowledge through games that can simulate shopping, saving, and investing.