Our research shows us that parents have different perceptions of their children’s financial knowledge across Germany. Offering kids pocket money on a weekly or monthly basis not only gives them structure, it also helps them learn budgeting skills, she tells us.įinancial literacy for kids in Germany-according to parents But if you decide to offer your children an allowance, Leonie Ries suggests you consider giving it to them at regular intervals. The benefits of sticking to a scheduleĭeciding on the right amount of pocket money to give your kids-and how often-is a personal choice for every parent. 27% told us that they would reconsider the amount of pocket money they offer their children based on the circumstances-including special occasions, trips, etc. However, some families who stick to a fixed schedule or amount say they’re open to adjustments. 18% of the parents award pocket money based on their kids’ behavior.11% of parents say their kids receive money when they need it, but not on a regular schedule.Conversely, we found that some parents prefer to pick and choose when their children receive money: In total, 89% of those surveyed say they follow a strict pocket money schedule, with 36% giving their kids money on a weekly basis and 53% on a monthly basis.
A fixed or flexible approach to pocket money
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