Experts state that money and budget management should be explained to children around the age of 7, and that the best way is to give the child an amount of pocket money appropriate to his age. According to experts, children should be taught the concept of "limit" and the concept of getting something by paying for it. A child whose needs are taken away without being discussed becomes unfamiliar with the concept of budget and limits.
Mathematics is the way we express the world. Teaching children about money and numbers begins after these basic concepts. Children who grow up being included in life learn the concepts of numbers and money between the ages of 5-6 without even realizing it. Those who cannot learn should be taught privately.
The concept of "limit" should be taught
In this age, children buy the toys they like from their friends and bring them home. The family should notice this immediately and send it back. If we are sure that the child has learned the concept of 'limit', we can help him make simple purchases by paying money, and we should start explaining the prices of the things he buys or some necessities such as milk, bagels and bread, and the importance of paying for them. The child must understand that he can have everything by paying a price and that this is very important and then it will be valuable. We should also talk about other brands of a product we buy, such as milk, how they compare in terms of price and quality, and why we prefer it. Thus, our child learns that when buying something, research must be done and that it is necessary to consider the price, taste, shape and quantity. We can also discuss the features when buying a toy. In fact, we can direct what he should buy.
His needs should be discussed
Children get what they want. Even if they think so, when parents shape and direct their thoughts before them, the child becomes very stubborn and cannot resist. However, this is only valid for children who are cared for sufficiently consciously. A child who gets everything he sees without discussing his needs will be unfamiliar with the concept of budget and limits. The child must be persuaded not to buy what he does not need. Aegean Even if he wants it very much, he should get what he wants after getting his parents' approval. 'You want this very much, your wishes are important to me. But this is very expensive, we should balance our budget and buy it that way. He should be taught to postpone his request for a while by saying "I don't have that much money on me right now, but I may have it tomorrow" and then his request should be fulfilled. We can teach the child to save money by saying 'We can buy it when you learn to postpone your wishes' or 'We will give you an allowance regularly, you can buy what you want by saving your allowance'.
Money and emotions. management should be taught
This situation is mostly possible around the age of 7. Learning money and emotional management is very important, but not that easy. The easiest way to teach a child money management is to give him an allowance appropriate to his age. Allowance may mean spending for the child in a different way. The aim is to teach the child the responsibility of making decisions about his/her own needs.
Pay attention to these points when giving pocket money!
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Pocket money should be given regularly every day.
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The amount should increase every year.
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Where can the money be used? Although it is discussed what he will spend it on, it can be said that he should allocate a large amount to his daily needs and a very small amount to savings.
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While teaching the concept of pocket money, the opportunity to get loans and advances should also be given.
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Even if the family's financial situation is good, giving too much money to the child may be harmful to the child.
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Children who go to school with too much money may be victimized by other older classes. and their money can be taken by force.
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The excess pocket money after primary school can be used to purchase harmful substances. No matter what, the family should also monitor where the pocket money is spent.
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