Economics Report - Teaching Children About the Value of Money

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VOA Learning English, this is the Economics Report in English. Many children first learn the value of money receiving an allowance. The purpose of an allowance is teach children about money. Children can learn how to money, especially at an early age, when financial mistakes not very costly. The amount of money that parents to their children to spend as they wish differs family to family. Timing is another consideration. Some children a weekly allowance. Others get a monthly allowance. Parents make clear what, if anything, the child is expected pay for with the money. At first, young children spend all of their allowance soon after they receive . If they do this, they will learn the hard that spending must be done within a budget. Parents usually advised not to offer more money until the allowanceThe object is to show young people that a demands choices between spending and saving. Older children may responsible enough to save money for larger costs, like or electronicsMany people who have written on the subject allowances say it is not a good idea to your child for work around the home. These jobs a normal part of family life. Paying children to extra work around the house, however, can be useful. can even provide an understanding of how a business . Allowances give children a chance to experience the things can do with money. They can share it in form of gifts or giving to a good cause. can spend it by buying things they want. Or can save and maybe even invest itSaving helps children that costly goals require sacrifice: you have to cut and plan for the future. For VOA Learning English, Laurel Bowman. (Adapted from a radio program broadcast 23Nov2012)

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