A great habit to empower children and teach them the value of money and savings
How to manage money is learned from a young age or at least it should be. What is certain is that, looking at the numbers of the survey conducted by the Global Thinking Foundation, there is a bit of discouragement: Italy is in fact the country with the lowest percentage of young people who are not interested in discussing money.
It only seems that 36% are and from the data collected, women are the ones who suffer the most from this financial illiteracy. But by now we have learned that the biggest changes are those that begin with small steps and education, with training and information.
And to do this we can use pocket money, a very useful tool to empower children, after all it is their first salary. It is precisely starting from that sum of money that the future men of tomorrow will make their first choices and evaluations, deciding the priorities and purchases to be made through the value of money and the sense of saving.
Whether it's toys or stickers for children, or cell phone or pizza top-ups for kids, setting up regular weekly allowance for your children is an excellent habit that teaches them to have a first approach to money. It also makes the children independent and is also a convenient method for parents and the management of the economic resources of the house.
The ideal age to establish this best practice is 10 years, before then children would still not be able to manage those resources. In any case, don't worry if, in the first period, it will seem that they are not able to manage that money, it takes time and method, which is why your children could go from spending sprees to meticulous savings. Therefore, if the available money runs out sooner, do not give them more than what you have agreed, this will serve to make them responsible.
And don't worry about the fact that your children's friends receive more money: there will always be families with greater availability, but pocket money is not designed to compete, but more to teach children to manage money and save.