It is so easy to spoil our children and miss the opportunity to teach them about saving, choices and sacrifice. It is important for children to understand the value of money.
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They can also learn the value of money if they have to do chores before they receive an allowance.
Mum used a very simple rule when we were schoolchildren.
She gave us weekly pocket money which was about double what we needed and used to tell us "Right this is your money for the week. It's up to you how you spend it. Don't come asking for more before the week is up because you'll get nothing."
We never did and I remember actually saving from my allowance!
Very good advice. Remember when raising a child, you are raising them to one day be able to take care of themselves. They grow up fast.
Our kids received an allowance and had three jars. One jar held their ten percent tithe for church, one held 25 percent to be saved for something special, and thr rest was theirs to spend.
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