Money Matters

Now here’s a conundrum for you. I think we are probably in agreement that children need to understand the value of money. But short of being a but mean,  how do you teach them?

I took the B (age 7) and J (5) shopping the other day, and they’d asked to take some pocket money to spend, which was fine. But I (perhaps meanly) pointed out things of equal value – the box of washing powder that would last a month, the four loaves of bread, the muti pack of baked beans and so on.

I am toying with distributing their pocket money according to the jobs they do – 10p per day for setting the table, 5p for making their bed etc – but part of me feels they should help around the house just because, well, they should. Are they too young to start “earning”?

What do you do? I wonder what Martin Lewis would  say…

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One thought on “Money Matters

  1. MelJD46 says:

    We used to do chores for pocket money from about the age of 7. Laying table, washing up & wiping up after dinner. When we got paper rounds later on – we started to pay keep as well, just £5 a week until we left school. Dont think you can ever start to early to learn the value of money. The offspring of a friend of mine all have to save up for things they want right from being toddlers, so they know no different. She has 5 children in the house so money is at a premium anyway but they are some of the most level headed children you will ever meet & appreciate what they do have.

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