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  Pocket Money  
     
  From the Age of 7 or 8 the children begin to understand the value of money and it's quite normal for them to ask their parents for a weekly allowance to buy their own things.  
     
  A weekly allowance is a good way of showing the children how to administer money. At the younger ages it's important that they only receive a small amount as they still don't know how to handle large amounts of money.  
     
  Having a limited amount of money also teaches them that they can't have everything they want and that they must save up money to buy the things they want.  
     
  It's not only a matter of giving them a weekly amount of money, it's also a matter of advising them on how to organize their priorities and how to save money to buy the things they want.  
     
  You must make sure they understand that giving them a weekly allowance is a completely voluntary thing and they shouldn't perceive it as an obligation.