Pocket money is a topic that concerns many parents. “When to start, if at all?” and “How much to give?” are questions that almost every parent struggles with. To answer these questions, most parents should first answer the following question:
Why do I want to give my child pocket money?
I grew up in a poor family and pocket money was never an option for me. Only when I was 14 and we moved to a new town (which was only slightly bigger than the small town I grew up in), I discovered there was such a thing as pocket money.
I was so surprised. My parents had so little that whenever we asked my dad to buy us something, he said, “We don’t have money”. Therefore, in my mind, pocket money was part of wealthy kids’ life.
But it does not have to be.