Paying children pocket money is a good step to teach them the value of money and help them understand about saving and spending.
As we know, pocket money is often given to children at the age of six or seven, but they are not given money under that age because they are unaware of the value of money.
In fact, there are lots of lessons to learn when they have pocket money. Kids should have to earn pocket money because money gives them a greater sense of responsibility and self-confidence. What's more, parents and caregivers who can simply give their children money are preparing them for the adult world. However, pocket money should be controlled so as not to lead to negative effects later. For example, you could prevent your child to take all the money to school so as not to be a source of ostentation among the friends. You could also work with your child to draw up a budget and decide together how to split up the pocket money. There is nothing wrong if you promise your child to increase his or her pocket money if he/ she gets high marks.
To sum up, I believe that our children should learn from the experience of earning money and find out that nothing in life is for free.
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