Issue 2
Explore
AMJ 2017
2. Specify boundaries/ rules before hand,
set expectations Money Management Tips for Kids
3. Give the child, responsibility and
accountability for the pocket money. 1. Money is not just to spend or just
to save. You can use your pocket
money in 4 ways (use 4 jars);
4. Be your child’s money mentor. The
cycle of pocket money training and
learnings is illustrated in pictures
below.
Bonus Lessons from the 4 Jars
Making Choices
Accountability
Discipline
Self Control
Goal Setting
Entrepreneurship
Empathy
Responsibility
1. Spend - meet your need & some
wants. Needs first. Wants later.
2. Save - for your goals (e.g. bike)
3. Sow - (invest) for college or
setting up business, or exploring
4. Share - with someone in need
2. It is your responsibility to collect
your pocket money on a set date/
time.
3. Keeping account (a count) of how
you use your money will help you
review and learn
4. It is ok to make mistakes, as long
as you learn from them.
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