How not to raise a spendthrift: pocket money and secrets of financial literacy for children

Pocket money is not just a small amount for sweets, but a child's first step into the world of financial literacy. It's where the understanding of the value of money, planning, and even small financial victories begin.

Tetyana Borimskaya, investor, teacher, and founder of the "CashFlow kids" financial education center, especially forLIGA.net said:

• how much pocket money to give a child depending on age and needs.
• Is it really worth paying for good grades – and what does it threaten to motivation.
• How to teach a child to allocate money: necessities, wants, and savings.
• a simple way to teach a child to save and put money aside.
• how to make saving money interesting and really exciting.
• how to help a child set financial goals and achieve them without stress.
• Top strategies to help your child manage their finances independently.
• the most convenient apps and methods for controlling expenses and savings.

How to determine the optimal amount of pocket money depending on the child's age and needs?

A child's first allowance should appear at an age when they are able to manage their own money. This is usually around 6-7 years old, during early elementary school. Subscribe to LIGA PRO to read this article. Go to the full version of the page.