Mar 5, 2010
Give pocket money as pay, otherwise you’re ‘trust fund teaching’
p>Pocket money is under-rated as a way to teach kids core money lessons. The idea of them having their own cash is beneficial…
It teaches them about regular income.
By having a regular amount of money you start to learn the concept of saving versus spending.
It incorporates ‘opportunity cost’.
While each of my two money mantras [...]