Give it regularly, let your child decide how to spend it, and let the mistakes happen.
A two-minute read, three things to try, for ages 5 to 16.
Where to start
Give pocket money regularly, on the same day, even if it’s only a little.
Let your child choose how to spend it, and don’t top up when it’s gone.
Help a younger child save for one thing, with a chart they colour in.
The rest of the tip, and why it works, is in the library.
Sources
MoneyHelper, Pocket money and saving; MoneyHelper, Learning about money by age; Whitebread and Bingham, Habit Formation and Learning in Young Children (University of Cambridge for the Money Advice Service, 2013)
It goes with
When Money Is Tight.For parents whose family is under financial strain, and for any parent wondering how much to tell a child about money.
The first chapter you open here is free to read in full.
Free on this subject
Money worries.What to do first, what helps, and who else can help. Free to read and to print.
Parenting strategy.What to do first, what helps, and who else can help. Free to read and to print.
Published by Kensington Square Therapy. Company No. 16707111. Written by therapists registered with the British Association for Counselling and Psychotherapy (BACP) and the National Counselling and Psychotherapy Society (NCPS). This page is not therapy, and not a substitute for professional support. The full library is at theparentbook.com.