Teaching kids about pocket money - saving, spending and sharing. Thanks to the ASB GetWise programme, we've helped over 700,000 Kiwi kids become cash clever. Watch more ASB GetWise parent videos at http://asb.co.nz/getwise.
Giving your child pocket money is a great way to start their education on managing money. Consider setting it up as a reward for doing extra chores or tasks. It can show your child the importance of earning money, rather than having it handed to them. How much you give, when you give it, or even whether you give it at all depends on your own preferences. When you give your child their pocket money, talk about what they plan to do with it. Do they want to spend it on something? Save it for later? Perhaps someone close to them has a birthday coming up, or they're simply feeling generous.