Pocket Money

 

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Contents of Max’s money jar.

What is a good age for a child to start receiving pocket money?

I purchased play money for Max during the summer last year, which consisted of notes and coins. When he realised he couldn’t really use them, it wasn’t too long before he was more interested in the real money I was using to purchase items.

I think it is important for a child to know about money – for the purpose of learning how to save. A large amount is certainly not required, but perhaps, just enough for them to purchase an inexpensive toy after a few months. It gives them a sense of independence, and makes them appreciate their purchases even more.

Max loves to save. In fact, when I tell him he has enough to purchase a toy of his choice, he tells me he wants to use my money – not his!

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5 thoughts on “Pocket Money

  1. jazzyjenness says:

    teaching them while they are still young and teachable is a great idea. Learning to save money now and learning to make choices between what toy or item to buy is also helpful. Sometimes kids want to spend their money as soon as they get it. I try to teach my two granddaughters that if they save their money then they will have more money to buy something bigger that may come up. Or, pay for their own movie tickets or go somewhere special.

    Like

    • Persia Karema says:

      Exactly. I love your thought on this, as I too, have told my son that if he saves, he can buy something he actually wants. Not that he wants to spend his own money though!

      Like

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