HOW MANY Allowance APPROPRIATE FOR CHILDREN?

Once children have entered school, she will usually ask for pocket money to her parents.On the one hand, you want to meet demands, but on the other side also worried that the amount awarded was excessive. Approximately how, yes, the exact amount to be given to children?
The answer to this question actually had to go back to your own child. Starting from what age and what kind of ability to handle money. Then, adjust your financial well. Here are four ways to find out the exact amount:
1. Determine based on the formulaThere are some parents who make their own standards. For example, the child will get an increase allowance of one thousand dollars per day in each year. If the age of 7 years old he got a pocket money of two thousand dollars per day, in front of him he will get three thousand dollars, and so on. Setting standards also need to be tailored to what you would buy a child in school and your financial capabilities.

2. Provide weekly budgetJames Sears, child health experts from Southern California, you are advised to observe the patterns of child snacks for a week, then calculate how much money was spent as a whole. By applying this method, you can meet the needs of children and parents according to their ability.
"Such an approach is useful for teaching children, that when they've spent all week pocket money for just a few days, they are no longer able to buy what they want," says Sears. Thus, children will learn to be wise in spending money.
3. Discuss with the childrenYou can also ask the children, how much he wanted. "Let the children put forward a kind of 'proposal' shows how much pocket money they want to get and what kind of spending," advises parenting expert Jim Fay, author of Millionaire Babies or Bankrupt Brats: Love and Logic Solutions to Teaching Kids About Money. Thereafter, it is your turn to review whether the "proposal" this child can be accepted or needs to be reduced.
"Essentially, there is never enough pocket money terms, because they basically want to buy anything they want," said Fay. "With this method, your financial capabilities as well as equip them to be useful when you grow up."
4. Pay children to do certain jobsSome parents just want to give their children pocket money after doing the housework.However, most experts recommend that parents separating both these problems.
"The kids do chores around the house because they are part of the family," said Sears."If the task is always associated with the household allowance, your child will be expected to pay every time you wash the dishes or making the bed."