When figuring out if that’s a good option, we need to be aware that the key is not so much in giving or not giving an allowance, but in how you do so.
Spending all of their allowance on candy in one afternoon and not having anything for the next day helps them to figure out what’s really important and what’s not. In these games, we can play different roles. “Today, we have money so we can buy things.” Or, “Today we don’t have so much money, so we can’t buy so many things.”An appropriate time to start considering giving an allowance is when children acquire the concepts of addition and subtraction, usually around the age of seven.
In a study by University College London published in 2017, it was observed that families with more limited financial resources place greater importance on their children adopting good consumption habits. It may be more advisable to give them the money if we think it’s a relevant expense, or to just say “no” from the start if we think they shouldn’t spend on a certain item.
What’s more, the girls and boys who contributed around the house without receiving money in exchange for their work associated household chores with values such as duty and reciprocity.
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