Giving children pocket money
 You may start giving your children some pocket money when they have concerned themselves with a sum of money for active spending. This problem may develop in adolescence.
At elementary age, children are usually happy with the demands their parents satisfy them. However, on some day, they envy their schoolmates having some pocket money to meet their own private demands.
When should you make a decision on giving your children some pocket money? It is the time when they take an interest in possessing a sum of money for private spending. This often appears in adolescence and the children are making some changes. It seems to be a good time for you to explain more knowledge and behaviors in life to your children.
To a sum of pocket money, you must clarify that this sum of money should be spent wisely for the practical functions and should not be overused the amount they were given at the beginning of the week. And you should let them know that if the amount is overused, they will not be given any more. Specially, what are spent on should be listed in expenses sheet in detail so that parents can follow it up.
Parents should praise children for their modest expenditure as they know how to spend it wisely. This proves that the children get to realize the value of their parents' money.
If the children ask for more money for clothes, holidays, trips with friends, you need to explain that the amount given at the beginning of the week is an advantageous one for the current family status. It can not be made a comparison between one and the others. Children should be taught to work out the value of money and to know that wasting money is not allowed.
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