• About
Friday, February 26, 2021
  • Login
No Result
View All Result
NEWSLETTER
Lifeskills
  • Home
  • About
  • ELT
  • Food
  • IAF
  • Life & Travel
  • Military Intelligence
  • Entertainment
  • Parenting
  • Soft Skills
  • Women in Armed Forces
  • Sports
  • Home
  • About
  • ELT
  • Food
  • IAF
  • Life & Travel
  • Military Intelligence
  • Entertainment
  • Parenting
  • Soft Skills
  • Women in Armed Forces
  • Sports
No Result
View All Result
Lifeskills
No Result
View All Result
Home Parenting

Pocket Money

by Sqn Ldr Vidula Abhyankar Retd
September 2, 2020
in Parenting
22
Pocket Money
0
SHARES
13
VIEWS
Share on FacebookShare on Twitter
To Give or Not  To Give

When children start going to schools, a new personality enters the lives of parents. Children between the age group of five and eight years are interested in taking a lot of initiatives. S/he is interested in accomplishments and wants to do things well. A school-age child likes a feeling of responsibility-of doing something to help make the home operate smoothly. Parents may have a difficult time finding something for a child to do. That’s when they need to think about ways to let the child experience their freedom through baby steps like introducing Pocket Money for them. Similarly they may not be okay with the idea of giving Pocket Money or any other allowances to children.


Giving a monthly allowance or a Pocket Money to the child is one of the most worthwhile educational experiences that parents can provide. It presents a natural opportunity to learn counting and arithmetic calculations. It offers a chance to begin to develop a sense of logic. The child may make mistakes or buy unwisely at first. S/he may rush to spend all of his/her money the minute s/he gets it, forgetting that it will be several days before s/he gets any more. From such haste s/he may learn to be selective in his/her purchases and prudent in his/her spending, because Pocket Money also involves the necessity for choices.

Parental guidance may help a child learn that s/he can have two Balloons this week, or s/he can save his/her Pocket Money for two weeks and buy a toy or a book. But s/he cannot have both the balloons and the toy/book. This is how you can guide them to use their Pocket Money wisely and save a few bucks for the future:

   1.     You may wish to start your child on a small amount as Pocket Money and give the same sum regularly each week.
    2.     As s/he learns the possibilities and limitations of his/her allowance and as his/her needs increase, you can also increase the Pocket Money.
     3.     Shortly s/he will become ready to take on the additional responsibility of managing all the money s/he will need for school expenses-bus fare, school supplies or canteen money.
    4.     As you increase the amount of the Pocket Money, you may want to discuss with your child ways of budgeting the allowance.
    5.     Assist him/her to work out on how much of the Pocket Money s/he must spend each week on essential expenses.
    6.     If s/he has a special interest or a hobby like coin collection or stamps collection or a liking for cars/avengers/dinosaurs; this would be an ideal opportunity to introduce the idea of saving any extra money s/he may have left over. 
     Many times parents go overboard in giving the child Pocket Money and compromise on some other important family expenses. This is where parents need to understand that the Pocket Money should be considered a child’s share of the family income and therefore should be no more than the family can afford. The Pocket Money should be considered the child’s property, kind of, to do whatever s/he pleases. The benefits of starting pocket money for children between the age group of five-eight years are:


  1.  Improving Mathematical Skills: If not anything else, Pocket Money will at least be a alive educational tool for the child. As the child goes to a Toy shop or a Grocery store or a Book store, s/he will learn to use the currency notes and other concepts they have learnt in the classroom.
    2.     Making Choices: Child may falter in the beginning and slowly learn to make the right choices, but either way, be happy, s/he is making a decision. Pocket Money will be another way to teach the child to make choice within limits. For instance, the child might have decided to buy a particular toy in a month but that may cost him/her the Pocket Money of three months. So s/he will have to make a choice about whether to buy or not the toy.

  
 3.      Social Development: Child learns to go out of the house and talk to strangers outside running shops/stores. They would know the realities of life where people do not behave in one manner all the time. Some of them may cheat, lie or even make a quick buck through the child’s pocket money. Accordingly, they will also learn to handle such types of behaviours.
    
   

Once you decide to give Pocket Money to the child do not try to control your child’s buying. Let him/her make mistakes for in this way s/he learns. Do not insist that a young child save something every month out of his/her Pocket Money. A savings plan will appeal to them in due course of time when they want buy something special. Also, most important thing, once you start the Pocket Money do not stop it or delay it on silly/irrelevant grounds such as disobedience, over spending on junk food or poor school results. Pocket Money should definitely not be used as a bargaining tool to guarantee a child’s good behaviour nor should it become a bribe.

Sqn Ldr Vidula Abhyankar Retd

Sqn Ldr Vidula Abhyankar Retd

Next Post
Man vs Wild

Man vs Wild

Comments 22

  1. Yani says:
    2 years ago

    Good insights

    Reply
  2. tadalafil cheap says:
    2 months ago

    I am just writing to make you understand what a notable experience my wife’s girl had using your web site. She mastered so many pieces, which included what it is like to possess an excellent helping nature to let other people with ease learn some problematic things. You truly surpassed people’s expected results. Thank you for producing these precious, trusted, informative and in addition fun tips about this topic to Lizeth.

    Reply
  3. LbgBoogs says:
    4 weeks ago

    order viagra free samples viagra cialis viagra online hong kong [url=http://genqpviag.com/]viagra for women for sale[/url] ’

    Reply
  4. JdbxBoogs says:
    4 weeks ago

    buy viagra in the us generic viagra 100 buy generic viagra [url=http://llviabest.com/]brand viagra 50 mg[/url] ’

    Reply
  5. FqhhBoogs says:
    3 weeks ago

    prescription drug cost hair loss online pharmacies of canada

    Reply
  6. JbbvBoogs says:
    3 weeks ago

    list of legitimate canadian pharmacies Super ED Trial Pack allergy

    Reply
  7. KbcxMake says:
    3 weeks ago

    online pharmacy no prescription pharmacy price comparison canada pharmacy online

    Reply
  8. AqcfveptSpeks says:
    3 weeks ago

    cialis prices nz free cialis online ebay cialis

    Reply
  9. LbsxBoogs says:
    3 weeks ago

    canada pharmacies/account viagra and cialis canada pharmacies online

    Reply
  10. AhkdBoogs says:
    3 weeks ago

    canadian online pharmacies prescription drugs publix pharmacy online ordering top rated online canadian pharmacies

    Reply
  11. FvfcScalo says:
    3 weeks ago

    viagra triangle chicago pfizer viagra viagra online prices

    Reply
  12. Jbnbfoese says:
    2 weeks ago

    pharmacy online no prescription canadian viagra buy medication without an rx

    Reply
  13. FqbbBoogs says:
    2 weeks ago

    quick cash loan atm as collateral same day text payday loans loans get cash today

    Reply
  14. NncsScalo says:
    2 weeks ago

    canadadrugs guaranteed viagra alternative viagra patent ending

    Reply
  15. KuikSpeks says:
    2 weeks ago

    buy genaric viagra order viagra from canada cialis vs viagra canadian pharmacy

    Reply
  16. JbbnBoogs says:
    2 weeks ago

    cheap cialis canada online can you take atenolol with cialis cialis online in europa

    Reply
  17. KvaxMake says:
    2 weeks ago

    payday loans in hazel crest il money magazine home loan 2014 money loan court act 2003 pdf

    Reply
  18. Jamesphisa says:
    1 week ago

    http://bio-catalyst.com/ – buy omnicef generic
    buy erythromycin
    [url=http://bio-catalyst.com/]order bactrim[/url] buy cefixime online

    Reply
  19. AhbzBoogs says:
    1 week ago

    payday loans near mechanicsburg pa cash advance st albans wv quick cash loan with no credit check in india

    Reply
  20. Jamesphisa says:
    1 week ago

    http://bio-catalyst.com/ – myambutol generic
    chloramphenicol capsules
    [url=http://bio-catalyst.com/]buy panmycin online[/url] cefadroxil price

    Reply
  21. Jbnvfoese says:
    1 week ago

    breeze cash advance payday loans west sacramento ca psbank cash loan requirements

    Reply
  22. NbnhScalo says:
    1 week ago

    can i buy viagra in usa viagra pharmacy generic viagra price without insurance

    Reply

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

What’s going wrong with our maids?

4 years ago
Best Foods for Healthy Weight Gain in Babies, Toddlers and Kids

Best Foods for Healthy Weight Gain in Babies, Toddlers and Kids

2 years ago

Popular News

  • IMPORTANCE OF PIQ FOR SSB ASPIRANTS

    0 shares
    Share 0 Tweet 0
  • SERVICES SELECTION BOARD

    1 shares
    Share 0 Tweet 0
  • Importance of Personal Interview in SSB

    1 shares
    Share 0 Tweet 0
  • Women in Armed Forces – Part III

    0 shares
    Share 0 Tweet 0
  • How to get a job without being nervous in an interview

    0 shares
    Share 0 Tweet 0

Connect with us

Lifeskills
Sqn Ldr Vidula Abhyankar (retd) A SSC Officer of Indian Air Force, having background of a linguist in English Language (ELT) has worked for last 17 years in the field of education, training and development of Air warriors and their families.

Category

  • ELT
  • Entertainment
  • Food
  • IAF
  • Life and Travel
  • Military Intelligence
  • Others
  • Parenting
  • Soft Skills
  • Sports
  • Women in Armed Forces

Social Links

Facebook Twitter LinkedIn Instagram

Recent Posts

  • IMPORTANCE OF PIQ FOR SSB ASPIRANTS
  • The SAMBA SPY Case
  • Importance of Personal Interview in SSB

© 2020 Lifeskills

No Result
View All Result
  • Home
  • About Us
  • ELT
  • Food
  • IAF
  • Life and Travel
  • Military Intelligence
  • Entertainment
  • Parenting
  • Soft Skills
  • Women in Armed Forces
  • Others

© 2020 Lifeskills

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In