7 tips on giving pocket money to children and the younger population

7 tips on giving pocket money to children and the younger population
Money is often found in the pockets of children’s jackets and clothes (apart from candies, various felt-tip pens, broken pencils, small self-adhesive pictures for albums, etc.). Paper or tinkling money (in smaller or larger quantities) is therefore an integral part of children’s pockets and pleasures. Children receive and spend money every day for a thousand useful and useless things (ice cream, juice, chocolate with a picture of a football player or favorite singer, chewing gum, etc.) that seem attractive and necessary to them.

  1. Children should have a budget created from fixed money or gifts (received from family, relatives, neighbors and friends). A child needs money, even though he has little understanding of the role of money in life. Every child gets a lot with money, so they are disappointed if money is denied.
  2. The relationship between child and money (pocket money) is a complex issue that many experts have always dealt with. Pocket money or money is a “double-edged sword”. The pocketbook is useful because the child slowly learns to appreciate and respect money (and save money) and through money, better understands human relationships and the life of an adult in general. The child learns to count, add and subtract, and many similar things. However, there are also counter-reasons. Money should not develop selfishness or rapacity in children and the younger population.
  3. Serious financial control of the child’s pocket money – the situation in children’s pockets is usually very unfavorable (a few coins and that’s all), which does not mean that the child’s income and expenses are in these relations. The youngest children are usually the most modest. The youngest children’s desires are limited to ice cream, going to the cinema, visiting a birthday party, an amusement park, picture books and the like.
  4. The situation with the child’s pocket money changes when he goes to school – adults need to buy clothes, shoes, school supplies, notebooks, textbooks, but the child also becomes a member of some organizations and societies, or starts to engage in a hobby (which includes traveling, buying something special sports equipment, etc.). A child’s needs grow from year to year and pocket money becomes an “established fact and reality” as soon as the child goes to high school.
  5. It should be explained to the child that there are still children (in some countries of the world) who are discriminated against (they clean shoes, sell and distribute newspapers or work in factories with falsely declared ages and for very little money). Pickpocket is an unfamiliar concept and mental noun for such children. Children in other countries of the world with a better economic situation generally have normal growth and development and a happy childhood. These children have regular pocket money and plenty of social and family attention (which seems normal and usual).
  6. Try to independently make, for example, a monthly calculation (check and calculate the child’s shopping needs with the child’s pocket money) – adults should also calculate the child’s pocket money and needs and wishes and, accordingly, continue to give the child a certain amount of money.
  7. Experts advise a compromise solution because pocket money (official or unofficial) exists in the child’s life and growing up. The child should be given pocket money and under control, the child should be accustomed to the presence of money in his life. Because in children’s pockets, coins jingle and paper money rustles. Adults should always be in control and make sure that the child learns when spending money on his own needs and desires.
  8. Collecting of old coin or paper money – it can already be explained to an adult child that he can collect old and unusable money (deal with numismatics), which he can later exchange with other hobbyists and gain new experiences and friendships, and additionally learn about the value of money during his life.


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