asiababy wrote:My kids are turning 6 and 8 this week. They get 50NT a week each. They are supposed to do chores and lose 10 NT per chore/responsibility not fufilled, but I admit it's been hard to keep up with the schedule we keep. I give them the 50NT in 10's and get them to "save some, spend some". My daughter actually saves all and manages to pick up stray coins from around the community to save, too (not stealing, just like finding 1nt in the car or on the road). My son gets great pleasure out of spending his money on other people so never manages to save anything. We're working on it at both ends of the spectrum.
Nuit wrote:Is 5 (and a half) too young for pocket-money? If not, how much a week?
Begin the process early – Most experts agree that parents can begin teaching financial skills to kids as young as 5. As soon as your children can count you can show them different coins and their relative values. Make change together. When shopping, if an item costs $3.50, explain why you give the clerk $4.00, and get 2 quarters back.
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