The pocket money debate: Should kids earn it or just get it?

Making Cents

Should kids get pocket money, and what’s the best way to teach them to use it?

Welcome to Ask the Experts, where each week we talk to people in the industry to get the inside word on what’s happening right now, and what that means for the tactics that you should use to make the most of your money.

Pocket money seems simple, but it can actually be one of the most powerful tools to shape a child’s long-term relationship with money. So… should you pay kids for chores? Give it freely? Or skip it altogether?

In this episode of Ask the Experts, Kiwibank’s Julia Jackson to explore the latest research on kids and money, including how to raise financially confident children in a world of tap-and-go spending.

We unpack:

• The pros and cons of giving pocket money
• Why some parents tie it to chores (and others avoid it completely)
• How to talk to kids about money without stressing them out
• Creative ways to make money feel tangible, even in a digital world
• Tools and apps that help kids safely experiment with spending and saving

If you want the next generation to avoid the financial mistakes you learned the hard way, this one’s essential listening.

Hit play, and get ready for some 'aha' moments.

Links

Follow Frances Cook on Facebook, Instagram and TikTok, or join the Money Memo newsletter for a free weekly money tip in your inbox each week.

---

Hosted on Acast. See acast.com/privacy for more information.