![]() ![]() It is a common sight to see small children with coins in their tiny hands, they hold on to them for dear life because they are torn between keeping the money or buying a small treat. Your child is also ready to receive regular pocket money, if they understand that you need money to buy stuff from the shop, and that once all of his/her money is spent it is gone until her next payment. If your child learns that 100 cents will make up a Rand, Dollar or Pound, they are well on their way to understanding money and how it works. Your child is ready to start receiving a weekly allowance as soon as they are able to differentiate between the different values of money, as well as the fact that different amounts are made up by using different coins and notes. ![]() You tell them that you can’t buy them a toy or treat everyday, but they reply “Why not, we are millionaires”? You inform then that this is unfortunately not the case, and it is usually followed by a tantrum and a scene in the middle of the shop. They are so quick, eager and ready to spend your money, carelessly and over and over again. Children also need to understand the concept of money and the fact that it can run out, be wasted and lost forever.Ĭhildren thrive on getting new toys and other little treats. We need to earn our rewards, so that we can learn to appreciate them, which makes spending them that little bit more satisfactory. Money makes the world go wrong, but in this world we don’t get anything for nothing. Often, parents are unsure of when to start giving their children money and how an allowance should work. ![]() If you are looking to teach your children about responsibility and appreciation, the best way to do this is by giving them their own pocket money to spend and enjoy. However, how old should our children be when they start receiving and learning about pocket money? ![]()
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