All children want to have pocket money. Why do their parents just give them a certain amount? 51
The amount of money that parents give to their children to spend as they wish differs from family to family. 52 Some children get weekly pocket money. Others get monthly pocket money.
First of all, children are expected to make a choice between spending and saving. Then parents should make the children understand what is expected to pay for with the money. At first, some young children may spend all of the money soon after they receive it. Parents are usually advised not to offer more money until it is the right time. 53
In order to encourage their children to do some housework, some parents give pocket money if the children help around the home. Some experts think it not wise to pay the children for doing that. 54
Pocket money can give children a chance to experience the three things they can do with the money. They can spend it by giving it to a good cause. They can spend it by buying things they want. 55 Saving helps children understand that costly goals require sacrifice. Saving can also open the door to future saving and investing for children.
A One main purpose is to let kids learn how to manage their own money.
B They can save it for future use.
C Timing is another consideration.
D As helping at home is a normal part of family life.
E Some children are not good at managing their pocket money.
F Learning how to get money is very important for every child.
G By doing so, these children will learn that spending must be done with a budget.
