Pocket money for children: right or wrong?

Pocket Money for Children

When should we start? With what amount? And how? But above all, is it right to give children pocket money ? Many parents disagree with giving their children a set amount at the end of the week or month, fearing they might take advantage of it and ask for more. Others, however, are convinced that the money should be spent only on basic necessities or important needs.

Finally, there are parents who are in favor of granting their children a fixed sum to fulfill their wishes, but only after establishing very specific rules and maximum limits.

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At what age should children be given pocket money?

In recent times, children have been receiving their first allowance as early as age six or seven , when they start primary school. It's usually a small sum to buy a pack of stickers or a snack . As they get older, their needs and demands for money grow. It starts with five euros for a trip to the cinema or a pizza out with the class, and then it's up to parents to decide whether to give their children a few more euros.

FOR MORE INFORMATION: In Switzerland, at 12, you get a "youth wage" to get used to independence. In Italy, at 30, you don't want to leave home.

AMOUNT OF CHILDREN'S POCKET MONEY

According to experts, younger children should be given around 3 euros a week for operating expenses (snacks, bus tickets, etc.), while for adolescents the amount should rise to around 30 euros . These are obviously indicative figures that should then be adjusted to the family 's actual economic situation . The important thing is to find an educational method to introduce children to money that is followed with conviction and consistency.

Pocket Money for Children: Yes or No

Before granting allowance, parents should teach their children that money isn't a gift, but that they must work hard to earn their monthly salary. Simply granting allowance without receiving anything in return sets in motion a mechanism that leads children, and even adolescents , to disrespect money and to set no limits on what they ask for.

To earn their pocket money, children can help with household chores or look after an elderly neighbor and accompany him shopping. It's important to make children understand that they're part of a society where they have to make a difference and that money should be spent responsibly and in moderation.

IS POCKET MONEY DETRIMENTAL?

Can pocket money be counterproductive? And encourage risky consumption among adolescents? A group of researchers from the Mario Negri Institute for Pharmacological Research and the Catholic University of Milan studied, on a sample of 989 fifteen-year-olds from Lombardy, the relationship between pocket money and five risky behaviors: smoking , alcohol, binge drinking, cannabis, and gambling. The result was that those who receive pocket money and have more than 10 euros a week are more likely to engage in risky behaviors. Pocket money makes people more likely to become smokers and drink alcohol.

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