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…