Having a child is difficult enough as it is, so we understand that the moment you are thinking about allowance and financial education you might like some guidance. Here you can read about how much other parents give their children, what they should be learning about money and what they should know already.
My child is:
How much do I give?
What can I teach them?
In order to understand what money is, how it works and what you can do with it, it is paramount that your child understands numbers and can count. Understanding the concept of cause and effect, kids need to know their numbers to further be able to understand money and its purpose.
What should they already know?
As we all know, money is a transactional tool. You perform a job for someone and you receive money in return. Or you give someone money and receive bread and vegetables in return. The idea of cause and effect is something that children will need to understand before they are going to get that money is more than a coin you can put in your mouth.
My child is:
Bare in mind that everything we suggest in this blog is a general guideline, we strongly advise to look at your child and see what you think is best for them. After all, you know your child better than anyone else.