Allowance Helps Children Learn About Money (2/2)

Paying children to do extra work around the house, however, can be useful. It can even provide an understanding of how a business works.

Allowances give children a chance to experience the three things they can do with money. They can share it in the form of gifts or giving to a good cause. They can spend it by buying things they want. Or they can save it.

Saving helps children understand that costly goals require sacrifice: you have to cut costs and plan for the future. Requiring children to save part of their allowance can also open the door to future saving and investing. Many banks offer services to help children and teenagers learn about personal finance.
A savings account is an excellent way to learn about the power of compound interest.

Compounding works by paying interest on interest. So, for example, one dollar invested at two percent interest for two years will earn two cents in the first year. The second year, the money will earn two percent of one dollar and two cents, and so on.That may not seem like a lot. But over time it adds up.

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如果孩子另外做些家务，给他们些钱是有益的。这甚至可以帮助孩子理解生意是如何做的。

零用钱能够给孩子机会去实践三件他们可以用钱达成的事。首先他们可以以礼物的方式与别人分享或者把钱花在有益的事情上。其次他们可以用这笔钱买他们想要的东西。或者他们可以把钱存起来。

储蓄可以帮助孩子们懂得昂贵的目标需要一定的牺牲：你必须削减开支并为未来打算。要求孩子们省下部分的零用钱也为他们以后的储蓄和投资打开了大门。许多银行都提供帮助少年儿童学会个人理财的服务。一个储蓄帐户就是学会理解储蓄复利作用的一条绝佳的方法。

复利是通过用利息获得利息来实现的。所以，举个例子来说，1美元按2%的利率投资2年，第一年将得到2美分利息。第二年赚的利息将是按照本金1美元2美分的2%来算的，以此类推。这也许看起来并不多，但是时间长了累积起来相当可观。