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How do you politely ask for pocket money?
When asking parents (or anyone, really) for money it pays to be up front and speak plainly about your needs. Pick your moment well, but don’t catch them off guard. Warm them up by mentioning casually that you’d like to set some time to talk about finances. Then say, “I feel (x time, day or event) would be appropriate.
Why should children earn their pocket money?
They learn to prioritise wants and needs. A Sense of Purpose and Achievement: By gradually saving some of their pocket money towards a goal, children develop a sense of purpose and pride in their achievement. They also learn to value possessions more, when they have had a hand in paying for them.
Why do parents give pocket money to their children?
Many parents give pocket money to their children. These allowances are handed over either on a regular basis or as a reward for certain tasks or accomplishments. For many pocket money has an educational purpose: children can learn the value of work, as well as how to save and manage a small budget.
Should pocket money be given as a reward?
When pocket money is handed over on a reward bases children may think that they deserve payment for anything good they do. If children get allowances for helping with housework, completing their homework, getting good grades or simply behaving well, they may not understand that these are their duties.
Should you pay Kids for chores or pocket money?
One of the trickiest decisions for parents to make around pocket money is whether to link it to chores. If your goal is to teach your children about the value of work, it makes sense to pay for chores. On the flip side, shouldn’t children do their chores simply to contribute to the family, not because there’s a reward attached?
How do you spend your pocket money?
Pocket money can create more than just good money sense. It can also nurture a sense of social responsibility in children. Scott Pape — better known as the Barefoot Investor — suggests splitting pocket money into three labelled jars: 1. Smile: This is for saving up for a big purchase, like a water gun or special toy. 2.