If they spend their pocket money right away, they’ll have nothing until the next payday. That’s a valuable lesson to learn. It’s up to you to be strict about this and resist mid-week calls for a top-up: it’s an unfortunate fact of life that real-world employers won’t cough up more cash just because you ask them to.
Nobody knows your kids as well as you do, so don’t be put off by a game’s ‘suitable for ages X and up’. That’s just a recommendation. Your kids might be ahead of their peers – or you might find a bit of adult help is all they need to play games aimed at older kids.
Plenty of five-year-olds, for instance, are perfect at home playing Monopoly. It’s a great way to teach them about counting, budgeting, haggling, planning ahead – skills they’ll need all the time when they’re grown up. And you don’t have to stick to Classic Monopoly. You’ll find Lord of the Rings Monopoly, Star Wars, My Little Pony, Power Rangers, football… Find a subject they’re really into and all that learning should come a lot more easily.
As they say: they’ll thank you when they grow up
When we’re young, just about everyone dreams of being rich when they grow up. Learning to budget is no magic formula for success, but it might help your kids go further in life. And it should certainly help them get more out of their income – even if they’re not earning millions by the time they’re your age.
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