![]() The main purpose is for children to get a deeper understanding of finance at a younger age. If you feel as though waiting is essential, you could line their pocket money up with your payday. This way, they don’t have to wait until a specific date. You could even consider giving it to them after they have done specific chores or after they have worked for it. But, this doesn’t mean that you cannot switch it up and give it every couple of weeks or even every month. This allows their child to get into a routine and understand what an actual wage would be like. Most parents like to give their children pocket money weekly. ( ) How often should I give pocket money? On average, the amount of pocket money increases by roughly £1 every couple of years. So, when planning how much to give them, keeping this in mind will be helpful. The amount you give your child at the age of 6, probably will not be the same amount you give them at 15. Although, this amount changes with age and region, meaning that it may not be the perfect amount for your child. In the UK, the average amount of pocket money for children is between £5.75 and £6.50 per week. This allows the children to see exactly what they have to do and shows them what they have achieved. If you choose that you would like your child to earn their money, one of the most motivating and fun ways is to use a chart. Neither of these choices are right or wrong, it is completely up to the parents. Other parents do not expect their children to do any chores or any work for their money. For example, they might ask them to do some chores before they receive cash. Some parents like to teach their children from a young age that they have to earn and work for their money. Should my child have to earn their pocket money? They understand that you need to save up for more expensive items.They’re aware that you have to pay for items with money.They understand some basic information on money and how it works.A few of the most common ways are listed below: Some children may show their parents that they are ready to begin receiving pocket money in different ways. Although, there are specific key points that allow us to identify when might be a good time to bring finance into their lives. There is no right or wrong age to begin giving you child pocket money, again, it is just personal preference. Is there a specific age to begin giving your child pocket money? Therefore, we have put together a guide to ensure that parents can understand everything necessary. But, that does not mean that all parents know exactly how much they should be giving their children. Pocket money is a personal preference that should be set by the parents themselves. ![]()
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