How Much Pocket Money Should I Give My Child? Do this…
How much pocket money should I give my child? Here you can read exactly how much pocket money financial advisors recommend and you can read what you can do to make your child truly successful. Read along…
How much pocket money is normal? There are all kinds of studies and calculations…
Do you want to calculate the pocket money for your child? In The Netherlands the national advisors of NIBUD held a survey to ask how much parents are giving to their children. You can indeed look up at NIBUD that 50 euros clothing allowance per month is normal.
You may even want to know specifically how much pocket money is okay for a 16-year-old, 12-year-old, or high school student.
However, I want to send you in a completely different direction …
Do something much better than that … Be the rich dad
Take the example of one of the most important books on success. Be the rich dad from the book Rich Dad, Poor Dad by Robert Kyosaki. We will discover how you do that. First read the quote below:
Give a man a fish and he has food for one day. Teach a man to fish and he’ll have food for his life.
– Chinese proverb
Okay, how do you become the ‘rich dad’ for your child and how do you deal with clothing and pocket money?
You can just give 50 euros p/m… or you give a fishing rod that gives your child 500 euros per month…
You can easily choose to give your child 50 euros per month, just like all parents. Your child may even be very grateful to you for it.
But there is one thing you can do that your child will be 1,000 times more grateful for: give him the fishing rod. In this way you not only make your child independent, but also rich and successful. That 50 euros will soon change to 500 euros per month or more.
Spend the money that you would normally give as pocket money now as an investment so that your child can make (much) more money from it. With that 50 euros you can already do a lot:
- Take a look around the purchasing site Alibaba.com with your child and think about which gadgets, caps or accessories will be in great demand in your child’s environment. For example, let your child come up with a print for a shirt or cap, for example a print that will be very recognizable to the students at his / her school. Then buy them in and let your child earn only 25 euros per sold cap. If his / her entire class buys a cap, he / she has already earned 500 euros.
- Teach your child to respond to problems / a demand for something with logical and creative thinking and to ask for money. Think of a gap in the market in their own residential area together: a ‘heitje for a job’ with which your child actually solves a problem and can therefore ask a lot of money for it. Almost an adult rate already!
- Is the summer already over and is it getting dark? Half of all cyclists do not have bicycle lights. So you can have your child offer a bicycle lamp service with a screwdriver set, a load of batteries and bicycle lights to prepare bicycle lights for people without light for 5-10 euros. Many fellow students will make use of this at his / her school alone.
- Spend that 50 euros pocket money on starting a blog or webshop for your child. Your child will earn his / her own money within six months.
Isn’t that the same as a side job?
No. Because there are many limitations to side jobs.
- There are no side jobs for children under the age of 13.
- With part-time jobs, your child does not use his / her creativity.
- They earn very little. Let your children be creative themselves to earn tenfold (the hundredfold is also likely).
Teach your child to create his own money. Employers must also be brought into the world. Which do you prefer: that your child will only know the choice to become an employee or that he / she will also know the choice to be at the top of the hierarchy?
Teach your child to keep a cash book right away and your mission is complete.