Indeed, although they are aware of the benefits of saving, their primary objective is still buying candy, clothes and toys. At the end of the day, it’s the parents that could actually be losing out: “Giving 20€ or 30€ here and there could end up being more onerous than giving fixed amount on a regular basis” says Djamila Ibanez.īut kids are still kids – and that hasn’t changed. In fact, children seem to be aware that running out of money is a reality: 85 % consider that sparing money is good and 74% check their savings regularly. Managing banknotes and coins can also help children with mathematics, a study by Western Sydney University found. Djamila Ibanez, financial welfare coach, says that “ the piggy bank has an educational function: it teaches children what having a budget means and empowers them”. Some people regret the drop of pocket money. Two rival surveys issued this week offer a glimpse inside. Why is pocket money decreasing? Besides the state of the economy, one of the reasons is that nowadays, 52% of children aged 8-15 years would rather receive gift money than an actual present. The average pocket money given to a child is either £6.50 or £5.75 a week, depending on whether you believe the kids or their parents. In France, 79% of children are given money on birthdays and Christmas, 63% get pocket money and 37% earn it doing some chores. This is 4 € less than stated four years ago, in another study by Fortuneo. Its onset dates back to the origins of humanity and its physical representation has taken on very varied forms until the appearance of metal coins. Money is any item that is generally accepted as payment for goods and services and repayment of debts, such as taxes, in a particular region, country or socio-economic context. A GFK study made by Axa Investment Managers revealed that, in France, children receive on average 7.83 € pocket money From the Latin word moneta, nickname that was given by Romans to the goddess Juno because there was a minting workshop next to her temple.
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