[Scrimping]

I read a post by GeordieLass and it made me wonder. Do you teach your children to get the most for their money? At what age do you think it is good for kids to start learning how?

[MrMoney]

I think kids should start learning as soon as they can read and start adding up from age 5/6. I would say i am against parents giving kids pocket money without a quid pro quo, they should have a points based system for earning the money. This is just a start as they get older then you start teaching them more and more about the outside world of finance but in a language or using symbols they understand and relate to

[Scrimping]

Would you allow a 5-6 year old to have complete control over the money that they had, and merely advise, or would you put limitations in place so that they cannot blow it? My child is a little younger still, and I'm not sure how I'll handle it.

[mezza]

When we were still babes, my mum had us each get a certain amount of weekly money. We started at about 5 or 6, and it was not much money at all. The only parameters we had,were that we were required to set aside 10 percent for church and 15 percent for savings. We could do whatever we wanted with the rest.

[Scrimping]

Which is pretty much not allowing full control, but requiring some have certain functions. I think it's good to do that, but then how do you decide how to allow them to spend savings? Are they required to save indefinitely, till they leave home, from 5 years old? Or are they allowed to use it to buy presents for people and so on?

[Belanna]

My mum had us use our savings for presents and/or for big items we wanted to purchase. An example is that I wanted to have a silver flute to play. I saved up enough when I was 12 to purchase one for a decent amount of money. I'll never forget how I felt when I paid cash for it.

[Nanat]

I grew up in a practice that finances should be managed well by buying only necessary stuff inside the house. Although it is a must to reward one's self by buying or shopping stuff for one's self after a weeklong of hardwork, still disciplined spending should be observed highly

-------------
http://www.cartridgesave.co.uk/ink-cart ... SX215.html