Lessons your child can learn from pocket money.

Pocket money can teach your child about important concepts like the following:

• Value – this is the relative price of things.
• Spending – money is gone once it’s spent.
• Earning – earning money can be hard work, but usually that’s the only way to get it.
• Saving – this is putting money aside for short-term and long-term goals.
• Borrowing – if you borrow money, you have to repay it.
• Opportunity cost – when you use money to buy something, you give up the chance to buy something else with that money.