New Year, New Start – and a great time to introduce a new allowance routine. Allowance is a brilliant way to help your children learn about managing money. It can kick start conversations about budgeting, saving and working for rewards. If your children have been given cash for Christmas, they can add allowance to get closer to big savings goals.
It may just seem like another expense in the long list of regular outgoings, but there’s a number of very good reasons behind why we’ve been giving a regular amount of money to children for the past two hundred years. So let’s look at the advantages of giving pocket money!