Monitor how your children are spending their money.This can teach them the value of delayed gratification and how to save for a specific goal Help your children to save their money.

This will help your children to stay within budget and not spend impulsively Set clear rules about what the money can be used for.This will help them understand why they are receiving pocket money and how they should use it Talk to your children about money and how it works.Here are a few tips to help you make the decision: So, what is the right answer? The truth is, it depends on your individual situation and what you believe is best for your child. They believe that children should only be given money when they need it, such as for buying school supplies or paying for extracurricular activities. On the other hand, some people argue that pocket money is unnecessary and encourages children to spend it unnecessarily. This can teach them the value of money and how to budget effectively. This is particularly true if they are given pocket money that they have to use to cover specific expenses, such as buying lunch at school or going to the movies with friends. On the one hand, some people believe that pocket money is essential for children to learn how to manage money.

There are key arguments for and against giving pocket money to your child. Manage pocket money with GoHenry Should children get pocket money?

Pocket of money