Pocket Money

Mei Lan - posted on 07/06/2009 ( 1 mom has responded )

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Our No1 is attending P1 school now, and whatever left over pocket money she has, we let her save it in her piggy bank. To encourage her younger sister to do the same, my hubby and I will give her the same amount that her sister is saving for the day, to drop into her very own piggy bank too!

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Annette - posted on 07/06/2009

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Great idea - it is never to soon to teach your kids about saving. Kids no matter what ever age like to see their money grow. My children are aged 12 & 14 and they both are quite good at saving for what they want. I give them a small amount of pocket money (into a bank account) each month. They then have to use this money to pay for the mobile phone credits, going out costs (movies etc) and to save if there is something they really need. What is wonderful they both still always ask me what I think before they spend the money. Even though the final decision is theirs its nice that they still want my opinion.

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