Children and Pocket Money

Is there an age to introduce children to money? What is the practice these days? In our days – it was not the pocket money as much as the attraction of piggy banks and the importance of saving money.

While I see the need of colorful piggy banks which make noise as an absolute must, when does one start the concept of pocket money? Is there a right age to do so assuming that basic familiarity with Math and monetary concepts has been introduced?

The larger question is – do we just give them pocket money or do we link it to some chores accomplishment or behaviors or as a reward for academic and extra-curricular excellence?

I would tend to lean towards the need for them to understand the concept of giving services.

In their case it could be just doing simple tasks at home which entitle them to earn pocket money. More contribution and help in the house means more pocket money and also hopefully will make them more responsible.

I am sure all of you would agree with me for the need to make children more aware of discretionary spending – whether it is getting a treat or a toy or a book or maybe even contributing for the underprivileged sections of society.

Will this help in them gaining financial prudence? I certainly hope so.

Home study for kids versus regular school

A concept that is catching on fast, wherein one or both the parents are taking the ownership of imparting education to the child at home. Will this ever become a serious threat to institutions such as pre-school, schools or a preferred mode of imparting education to kids

I doubt it!

I am not from the field of education so would not know the science and logic behind this methodology.

I however strongly believe in the need to expose our children to the numerous learnings which are imparted when they begin their journey in play school besides academics.

How home study can match up to non-academic experiences such as socializing, team work, understanding the concepts of a larger society than just immediate family, discipline, routine, etc? What about numerous new experiences such as the school bus, cafeteria, school outings the list could be endless.

I am not sure of the advantages this methodology brings to the kids?

Summer camps and extra-curricular activities

Yes, it is very essential to channelize your kids’ time and productivity. Give them exposures, learning’s 
and most importantly help spend time during vacations and holidays away from home.  

This also helps give us parents some breathing space and time to catch up with our chores and other tasks.
The question I have is so much action at a young age – can it lead to fatigue and boredom beyond a 
point?

Yes, I know the logic of the exposure and the opportunities we are able to provide in today’s competitive 
environment, but will we be over doing it?

My son, too, has a packed week and weekend because of school, homework, studies and multiple 
classes. Lately, I have heard him complain that he gets only two off days in a week – even though he has 
chosen his hobbies himself.

While I have taken a step back and stopped one particular class for the time being, but am I 
inadvertently causing fatigue, being competitive and giving him opportunities which I may have desired 
to pursue?