Increase pocket money — yes or no?
Your child is getting older and more grown-up — and can and wants to take on more and more responsibility. Also when it comes to money, of course. And that's a good thing. After all, money-wise kids later become money-smart adults.
You should therefore constantly adjust your allowance to your child's current stage of development. The older your son or daughter gets, the more pocket money there is. Sure — after all, woolen older children also do more than younger ones. Cinema, eating ice cream with friends, shopping — a lot comes together.
There are a few recommendations for the amount of pocket money, which are always based on the child's age. We have also already reported on the correct amount of pocket money in our blog.
So the question is not whether you should increase your pocket money. The question is rather: When?
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Why the new school year is the perfect time for a pocket money increase
In addition to their birthday, the new school year is the second big step that your kids take year after year in their development. No wonder that grade level is the second most important reason for an increase in pocket money. According to a forsa survey commissioned by CosmosDirekt Do after all 16% of parents set the amount of pocket money for the school class.
The big advantage if you base your pocket money on the school year: Your child is always on the same level as their classmates. Okay, apart from the normal deviations — some children simply get more than others. On the whole, however, your child is always on the same level as the children they see every day. And that even if it started school a little earlier or later or skipped or repeated a class.
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Special feature of school change: Pocket money and secondary school
Especially if secondary school is waiting for the new school year, an increase in pocket money makes sense. After all, this is no longer just a small step in development — the new school is a quantum leap for your child on the way to adulthood.
At the new school, your child gets to know life in a completely new way. New friends are waiting, the way to school changes and suddenly everything is so grown up. It goes without saying that your child wants to keep up. And that also means spending money. The snack in the school cafeteria, the walk through the city center after school and the new shoes that everyone has now.
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Perhaps the change of school is even an opportunity to revisit pocket money? This is because the line between spending pocket money and necessary expenses such as food, school supplies and clothing is becoming increasingly blurred with age. With an additional Budget money You are gradually giving your child more responsibility and giving him more freedom when making purchasing decisions.
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Dos and don'ts when raising pocket money for the new school year
Just set a new amount and you're done? It is often not that simple. It is not for nothing that there are often heated debates when negotiating pocket money. Perhaps you have already had one or the other discussion? We'll tell you what you should consider when setting your pocket money.
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Do: Recognize good performance
Did your child get particularly good grades on their last report card? If that's no reason to celebrate! When negotiating the new allowance, your son or daughter will certainly use this as an argument for a bonus. You should definitely recognize the good performance. But always consider the reverse: What would that mean if the grades were not so good?
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Don't: Make pocket money dependent on the last certificate
Therefore, try not to be too influenced by the last report card when setting your allowance — in every way. Instead, try to look at particularly good or even not so good performances separately. School benefits should not be the basis for the amount of monthly pocket money. After all, pocket money is used to make your kids money wise for life.
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Do: Focus on the general level
When it comes to pocket money, please be at the same age as your peers. To do this, use the current Pocket money table and orient yourself to price level The things that your child buys with pocket money.
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Don't: Wanting to outdo the other parents
Higher, faster, farther? Not with pocket money, please! This is only to make your child money wise for life. Please don't use it to measure yourself against other parents. On the other hand, even a particularly large amount of pocket money from your child's friends should not awaken a false sense of ambition in you. Each family's pocket money is different — everyone must find the best way for themselves here.
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Do: Pay pocket money with bling
The candy at the kiosk next door? Sure, a little tinkling money goes over the counter for that. Everything else is now almost completely cashless. With the Bling Card, your kids have the opportunity to get to know cashless payment in a child-friendly way. With the Bling app, you can learn how to handle money properly together. You can discover all the benefits of the Bling Card here.
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Don't: Let the child demand an increase in pocket money
Pocket money should be a matter of course. Don't let your kids beg for it — neither for the payout nor for the raise. Therefore, be sure to address all topics relating to pocket money yourself.
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