5 Good Reasons To Give Your Child Pocket Money

Learning the important life lessons has to come in various stages of a child’s life, the importance of money, the way the kids should handle them and also how much importance should be given to money is a process that kids learn gradually. Providing children with a small allowance for a good academic or sports achievement is a good way to encourage them and make them learn the habit of earning money, saving and spending it. Check out this amazing website https://www.starwalkkids.com/  that helps parents to inculcate healthy spending habits, as the kids imitate and repeat the habits instantly as the parents demonstrate.

Five Good Reasons for a Pocket money

  1. children develop self-dependency slowly, as giving them small allowances for their work or help did, will make them understand the importance of earning and rewards, and not to depend on the parents always
  2. as families keep discussing how to save up and buy the next important thing for the home, children understand how crucial money is to run the household, and makes them feel the importance of saving up and have an overall understanding
  3. children learn the importance of how money is required for emergencies and try to help parents by offering them they’re saved up pocket money, this develops the habit of understanding others problem offering a solution however small it is and try to bail their parents out of sticky minor emergencies
  4. as kids grow up this pocket money concept helps them to be better in money management, they learn from early childhood about how money can be earned, saved and used for emergencies and also spent on good things
  5. does your kid love the electronic car toy and wants to buy them, make them understand the good and not so good points about wasting money on plastic toys, educate them to imbibe the sense of choosing the right kind of expenses.