At what age can you start giving your child pocket money without it being too early?
At what age should you introduce your child to money?
Without immediately opting for a pocket money regular, a first step can be taken by parents by occasionally giving a one or two euro coin to their 5-6 year old children, for example at a flea market, or for a tooth that falls out .
This is a first step for familiarize children with moneyand put one foot infinancial education. The child thus understands that things are not free, he manipulates coins and exchanges them for small purchases.
At what age should you start giving your child pocket money?
“We can start giving pocket money during primary school, but keeping a measure, it must not be too much. Parents must decide this together according to their means and the age of the child. the child.” explain Marie-Claude Bossière, child psychiatristHospital Practitioner, and psychiatrist at the Maison des Femmes de Saint Denis.
Giving your child pocket money could therefore be implemented from the age of 7 years approximately. “It can be 1 euro or 2 euros, for the child to buy a piece of candy or a small toy. This allows him to learn the value of money. He understands that if he wants to buy something more expensive he must save and don’t spend it all. It also puts him in the position of having to go to adults to make his purchase.”
How much pocket money should you give your child?
Once you have decided on giving your child pocket money, you need to set an amount and a frequency. “It shouldn’t be too much.” recalls Marie-Claude Bossière, “The amount must be out of proportion to the needs of a child! It is up to the parents to ensure the vital needs of the child. His pocket money must be used to please himself, while being educational.”
As for frequency, you can give him his pocket money every week or every month. The amount will then need to be adjusted. So, for a child of 7-8 years old, it may be five euros per monthor less, a very symbolic sum.
Then when the child grows up you can gradually increase the amount, for example 10 euros at 9-10 years old, 20 euros at 12-14 years old, 30 euros at 16 years old, and 40 or 50 euros at 18 years old. According to the “Teenagers and Money” barometer produced by Pixpay’s Teenage Lab, in 2023, French teenagers aged 10-18 receive on average 36 euros per month.
Sources:
Marie-Claude Bossière child psychiatrist, Pixpay
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