How do primary school students manage pocket money?

Principle 1: Give your child a promise.

Before implementing the pocket money system, promise your child that you will give him pocket money one day every week. According to the child's age, give him half the money every week. Set a day for pocket money every week, and be sure to keep your promise.

Principle 2: Let your child make a commitment to you.

Before the child gets pocket money, two things must be guaranteed:

First, part of pocket money must be saved;

Second, the rest of the money can be used for emergency and entertainment-but you can't ask for money after use.

Principle 3: Persistence and perseverance.

Once the pocket money plan is started, it must be adhered to. Children will expect to be paid. If the child spends the money immediately after he gets it, don't give it to him

Principle 4: Don't mix pocket money with housework or grades.

Parents give their children pocket money because he is a member of this family. According to the author's experience and the suggestions of many psychologists and consultants, pocket money should not be linked to children's personal achievements, such as getting an A in exams or doing housework. The purpose of giving children pocket money is pure, just to teach him some useful financial common sense.

Principle 5: stipulate the contents of savings in the pocket money contract

Children should cultivate the habit of saving money from an early age. The best time to teach children to save money is when they give pocket money for the first time. It is suggested that children take out 25% of their weekly pocket money every month and deposit it in the bank or piggy bank.