Do you give pocket money to teenager child by month, or by week, or at random?
By Zhu Huifen
@zhuhuifen46 (3483)
China
February 8, 2009 6:53am CST
When my son was at boarding high school, I gave him pocket money by month, and I asked him to have better overall plan. But my neighbor gave her daughter by week, as she was concerned if her daughter could handle the monthly allowance properly.
How old do you think kids need to be taught about money issues? And how?
3 people like this
6 responses
@lolastevens (119)
• Ireland
8 Feb 09
I always got payed by week, I think if I got it every month I'd have it all spent in a few days, so at least by getting it weekly I was only broke 6 days a week... I think it depends how mature their children are and how inclined they are to make impulse buys...
2 people like this
@trinidadvelasco (11401)
• Philippines
8 Feb 09
lolastevens, it must have been terrible to be penniless six days in a week! i figure that you are living with your parents then throughout your student life.
it couldn't keep on going that way if you were lodged far from home and thus had to take care of the budgeting of your allowance to last until the last day when the allowance will be there again, replenished. you would have starved very severely if this was the case/scenario of your student life.
1 person likes this
@lolastevens (119)
• Ireland
8 Feb 09
I was terrible with money! But that wasn't my parents fault... I just bought everything I liked... I still do now, but not so much as I have to be careful waht I spend. When I first moved out I got so overwhelmed by bills and I just had to start saving and looking at money differently.
1 person likes this
@youless (112140)
• Guangzhou, China
9 Feb 09
Since my son is still very little, so he doesn't have a clear concept of money. So I don't have to give him pocket money to my son yet. And I save money for him in the future. When he grows up and goes to primary school, then probably I will start to give him pocket money every month.
I love China
@laglen (19759)
• United States
8 Feb 09
I give my daughter her money as she earns it. I do not give an allowance. She makes money by doing extra chores, or I am self employed so she can make money by doing research, making calls or data entry. I have had her make spread sheets and taught her how to use ACT. This seems to work. When she wants money, I have a list with the pay for each activity. She can figure out what she can do for how much money she wants.
@trinidadvelasco (11401)
• Philippines
8 Feb 09
most of us parents and guardians around here in the locality, give the pocket money to our teeners on a weekly basis. this is how i used to do, too.
if a parent really wants his/her child to be able to handle her finances well and good, then this shall be introduced to the child as soon as he/she attends school.
this way, the responsibility to be financially able to budget his/her allowance will be slowly built up through the years.
i can still remember that when my kids were in mid high school, i opened a joint account with a local bank for each one. they will just withdraw from there the money that they would need from time to time. now, they are so used to managing their own money already.
@regal_aeros (2605)
• Singapore
8 Feb 09
My dad used to give me my allowance daily.
But now, he has somehow stopped my allowance. And being a full-time student. It gets quite trying at times.
1 person likes this
@AliciaLiu (61)
• China
9 Feb 09
I am a college student.And I have no part-time job.My parents give me pocket money at random.They sometimes ask me whether I have enough money and if not they will give me how much i need.Sometimes if I lack of money,I will ask them for some.Coz they know i am not a kind of girl who will dip into one's purse.They taought me about how to spend money properly during the time i grown-up and i do did.(*^__^*)
1 person likes this
