Good to know
Handling money is child’s play
How do I talk to my children about money? How much pocket money is reasonable? We give you a helping hand – our tips for parents.
Talk openly about money
Money, income, daily expenses and family budget should not be a taboo subject at home. Talking about money will help children learn how much things cost, understand how work and income go hand in hand and realize that we sometimes have to put our consumer desires on hold.
Children should receive pocket money – that’s how they learn to handle money. It is important that
- pocket money be paid regularly and unprompted, either in cash or into an account.
- Pocket money should not be used as an educational tool. It should be paid regardless of behaviour and marks at school.
- Discuss personal expenses – what is pocket money intended for?
How much and from what age? The Swiss budget counselling service recommends:
6 year-olds: CHF 1/week
7 year-olds: CHF 2/week
8 year-olds: CHF 3/week
9 year-olds: CHF 4/week
10–11 year-olds: CHF 25-30/month
12–14 year-olds: CHF 30–50/month
from the age of 15: CHF 50–80/month
From about the age of 12, you can introduce a youth salary: with a fixed monthly amount, young people can manage living costs themselves, for example for clothes, haircuts, a bicycle, a mobile phone or sport.