No Polish Pocket Money

Not in Poland

Not in Poland

Only 25% of children in Poland receive pocket money. Experts believe that every parent should give their children pocket money. This is because children should start learning to control their spending and to develop financial planning skills from an early age. Research shows that 80% of parents who give pocket money to their children have noticed that the ability of these youngsters to manage their own finances has improved. It is a good idea to start by giving children a small amount of money and to increase it as they get older. In each case being systematic is the key to the success. According to psychologists, children should start receiving pocket money no earlier than at the age 6-8, because only at that age do they start to be able to plan their actions. Most children like to spend pocket money on sweets or small toys. Experts suggest that parents should let children make a few mistakes and let them feel independent by making their own choices, as this is the only way for them to learn how to manage money wisely. It is also a good opportunity to teach them that they can save to buy more valuable items. It will be difficult to save the whole amount, but parents can let the child save some money and then help to pay for the item by giving them the remaining amount. For those parents who prefer not to give their children cash a good idea is to open a children’s bank account into which they can regularly deposit pocket money. This type of account is offered by modern banks in Poland and they even issue personal debit cards for youngsters.

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