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27 Sep 13

Children’s pocket money: Getting it right

The new school year is under way, bringing with it new teachers, new subjects, new extracurricular activities and the yearly pocket money negotiations – yes, I do mean negotiations! I think my children Tom and Mary gang up on me every autumn before we discuss pocket money for the next school year.  They always have plausible reasons why they deserve an increase! But I am no push-over. I believe that pocket money has to be earned.  So I laid down some guidelines for my children from an early age. The language of pocket money Children need to learn the language of money as early as possible, and pocket money is a useful starting point for teaching them about it. There are no hard and fast rules on when to introduce pocket money, but I began to give Tom and Mary a small weekly amount when they were 5 years old and starting school. This […]

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