How soon, How much and How often.

How soon?
Your child is probably ready for an allowance when she enters primary school. She should be old enough to handle money to buy food at the canteen.

How much?
How much money your child is entitled to will depend on how much you can afford and how much food in the canteen costs. You may also want to have an idea of how much pocket money her classmates are getting.

Parents and child should agree on just what the pocket money is supposed to be spent on. Even if it is only to be spent on food in canteen, give a little above so that your child can practice decision-making.

As adults, we make spending choices and not all of our choices turn out to be right ones. Learning to live with the results of poor choice in spending money is valuable lesson, so let children make mistakes and learn from their mistakes.

How often?
At the beginning the pocket money can be paid daily since your child is young and is not used to handling money. But as your child grows up the allowance can be paid weekly and when she reaches her late teens it can be paid monthly.

The longer your child has to wait for the next payment of pocket money, the more she has to practise her budgeting skills.