Can children earn money before they turn 18? It’s totally possible! But there are a few laws and rules that tell you what you can and absolutely cannot work with depending on how old you are.

Making chores a part of the weekly or monthly pocket money is a great idea. Not only does it give children a sense of financial independence and control. It is also a way for children to practice financial decision making.

Everyone is always talking about "the economy." Saying “the economy” usually refers to the economy of the country where they live. The economy is about how money made and spent. Usually, what we mean we talk about the economy, is: who has money? Who doesn't have money? Are people getting richer or poorer?

A family’s financial situation can be a difficult subject to bring up with adults, and many find it even more difficult to discuss with children. However, discussions about personal finance with children are very important.

Given that money habits, values and skills are formed at an early age, financial education for children is essential. If done right it can help you build a positive financial future. A lack thereof could lay the groundwork for financial struggles.

Getting monthly pocket money means that children can practice managing money over a longer period of time, just like adults do with their salary.

Saving money requires you to make small, smart decisions about managing your money. Decisions like understanding the difference between needs and wants. You also need to be patient, because it takes time.

A lot of parents save money for their children, for example for a downpayment on their first apartment, or a memorable trip or a buffer for emergencies.

When you learn something new you want to see what happens, and that also makes it easier to remember. When you use savings jars you get to learn about money and get to make some crafts as well!

The first time you receive pocket money is a big step for a young child. It’s the first time children manage money on their own. Money that they can use to practice how to save, spend and prioritize.