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Family Life

Pocket Money

Do you have a jelibean who is draining all your resources and leaving you with nothing more than an empty bank account? Or maybe your jelibean is completely oblivious and doesn’t yet realise money exists?
Most jelibeans are fascinated with objects, gadgets and collecting the latest card collection plus albums to go with it. Sadly many of these gadgets and cards get lost or abandoned when something more interesting comes along. But try telling the bank manager that.Stack money
Many parents operate on a supply on demand system, their children get what they want as and when they can. So what are we teaching our jelijuniors/seniors and teens? That money isn’t an issue for them to deal with? I wish someone had taught me the value and meaning of money earlier.
I was surprised when it was suggested I handed over pocket money every week – but on the proviso that it was earned. At first I didn’t think I could afford to do that, however now it saves me a FORTUNE!
Jelibeans by enlarge have no money management skills. It is either that they stash it away or watch everyone else pick up the tab OR it burns a hole in their pockets and just evaporates. So let’s teach them the value of money from an early age. It’s funny how the designer deodorant you have been buying for ages suddenly gets substituted with an economy brand – when they have to pay for it themselves!

 


Pocket money has to be earned – in whatever way you all deem acceptable. Maybe putting out the rubbish or washing the dishes every night, house chores or gardening? Have a family discussion to negotiate terms. As an example my teenagers got £10 a week each. But they have to buy their own toiletries and luxuries. If they wish for a pair of jeans costing over £100 then they contribute. Savings accounts are essential. Take your jelibean as soon as you can to the bank – many do not realise what a bank is for! Please see Bank article for further information.
And don’t give in by giving them their pocket money when actually they have broken the contract, dishes are piled up in the sink and the rubbish sitting where it always does. If they break the contract they get deductions – simple as.
Pocket money can be used as a reward for good behaviour BUT it can be withdrawn also. It’s all flexible. The main lesson is that your jelibeans don’t rely on the Bank of mum and dad. You aren’t helping them in the long run.
Note – for jelitots and jelijuniors, we advise a special piggy bank or jam jar where they can collect their money or their tokens for good behaviour. It is an incentive and SEEING IS BELIEVING!

Do you have a jelibean who is draining all your resources and leaving you with nothing more than an empty bank account? Or maybe your jelibean is completely oblivious and doesn’t yet realise money exists?

Most jelibeans are fascinated with objects, gadgets and collecting the latest card collection plus albums to go with it. Sadly many of these gadgets and cards get lost or abandoned when something more interesting comes along. But try telling the bank manager that.

Many parents operate on a supply on demand system, their children get what they want as and when they can. So what are we teaching our jelijuniors/seniors and teens? That money isn’t an issue for them to deal with? I wish someone had taught me the value and meaning of money earlier.

I was surprised when it was suggested I handed over pocket money every week – but on the proviso that it was earned. At first I didn’t think I could afford to do that, however now it saves me a FORTUNE!

Chroes

Jelibeans by enlarge have no money management skills. It is either that they stash it away or watch everyone else pick up the tab OR it burns a hole in their pockets and just evaporates. So let’s teach them the value of money from an early age. It’s funny how the designer deodorant you have been buying for ages suddenly gets substituted with an economy brand – when they have to pay for it themselves!

Pocket money has to be earned – in whatever way you all deem acceptable. Maybe putting out the rubbish or washing the dishes every night, house chores or gardening? Have a family discussion to negotiate terms. As an example my teenagers got £10 a week each. But they have to buy their own toiletries and luxuries. If they wish for a pair of jeans costing over £100 then they contribute. Savings accounts are essential. Take your jelibean as soon as you can to the bank – many do not realise what a bank is for! Please see Bank article for further information.

And don’t give in by giving them their pocket money when actually they have broken the contract, dishes are piled up in the sink and the rubbish sitting where it always does. If they break the contract they get deductions – simple as.

 

Pocket money can be used as a reward for good behaviour BUT it can be withdrawn also. It’s all flexible. The main lesson is that your jelibeans don’t rely on the Bank of mum and dad. You aren’t helping them in the long run.

 

Note – for jelitots and jelijuniors, we advise a special piggy bank or jam jar where they can collect their money or their tokens for good behaviour. It is an incentive and SEEING IS BELIEVING!