Parent-child first money lesson

Parents are indeed the best teachers of their children; they give knowledge in several ways. Many parents are fine with teaching their kids about saving money, but the bucks literally stop there. Receiving pocket money is probably the first big step in your kids’ financial education. It gives them a taste of financial independence, and more importantly, financial responsibility. However, the idea of giving your child pocket money can bring a new set of dilemmas and worries.…

Is there a right age for them to start getting pocket money?

Is there a right amount?
How often?

Will they spend it or save it?

How to encourage them to save up some of their pocket money?

Can I give again if they said the pocket money is not enough?

How to help our children learn to keep accounts?

AQUARIA Pocket money system helps children start learning about the value of money and a positive money mindset. It helps children learn about spending, saving, sharing. Whereas, parents learn how to educate, execute & examine. For example, when children get pocket money, they have to make choices about spending or saving. And if the children are saving, they will learn about waiting for things they want. Pocket money can help children learn about consequences, including the consequences of losing money or spending it unwisely. Letting your children make a few mistakes is part of the learning process. The system empowers the parents with the knowledge and skills to monitor and guide their children on building a positive money mindset. The parents will help their children to set up their DIY pocket money system so that the children will appreciate the DIY tool that they built. The workshop will teach the parents and children on the formula and the correct way to run the system effectively.

1. Since 2004, Financial literacy features on the UK National Curriculum. Pocket money – reinforce this – teaching children the benefits of saving, careful spending and money management.

2. ING survey of 12,000 parents across Europe , giving children pocket money reduces the risk of them getting in to debt as adults. Pocket money is the building block for adult self-sufficiency.

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