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How to teach your child the value of money

Find the balance between spontaneous spender and prudent piggy-banker with ease


Posted: 9 September 2013
by Amanda Pauley

Money matters
Too many shops, too little time

While you may envy your toddler’s ability to live in the moment, a little bit of future planning can ensure she finds the balance between spontaneous spender and prudent piggy-banker with ease in later life.

Children as young as eight can now get their hands on a pre-paid cash card – dubbed the PKTMNY card by those witty marketeers – which allows them to access their pocket money electronically and budget using saving goals, wish-lists and more.

If this seems a tad too high-tech, nothing beats cash pocket money and a good old piggy bank.

As the pile of pennies grows, your child will appreciate the power of patience as she saves up for that special something, while counting her earnings will further develop numeracy skills too.

Meanwhile, setting her some small household chores in return for payment will introduce the concept of value. 

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Posted: 21/09/2017 at 16:50

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