How an allowance help children learn about money?

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Feb 4, 2012 01:36
Almost you have been given money by your parents as allowance. It was the first time you spend money to buy what you want. When I become the father, what should I say to my child?

When I was junior high and high school student, I often spent it soon after received it. I could not resist impulse spending. After I spent all of my money, I would have to be patient until receiving next monthly allowance.

As I was college student, I could not receive it, and started to work as tutor to get the money instead of the monthly allowance. I realize truly that the money is important, I have to work or make the value to get it. After getting money by myself, I could resist impulse spending. Before buying something I want, I always said to myself, why do you want this one? Is this necessary for my life?

If parents give the allowance to their child, they impose child to extra work, which is different from daily work. It is a chance for he/she understand how hard to get the money. Some of children make the funny way to get money. I heard that Baffet who is one of the most famous investor in the world ran a business when he was elementary school. He first sold the coke buying from his father. When he was junior high school student, he bought the interest first time.
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