The poor are poor, the rich are rich

Chapter 87 5 How to Treat Children's New Year's Money
Chapter 185 How to Treat Children’s New Year’s Money
According to Chinese customs, every Spring Festival, children will receive lucky money. In the past, the living standard was low, and people gave their children lucky money ranging from a few cents to a few yuan.But now that living standards have improved, children are getting more and more lucky money. Many children get more lucky money during the Spring Festival than their parents' monthly salary, even tens of thousands of yuan.For such a large amount, the child does not yet have the ability to manage money alone, and parents should help the child manage it reasonably.

At present, the ways for parents to deal with their children's New Year's money are mostly the following:
First, it will be confiscated.

Some parents think that children receive lucky money from others, and they have to give lucky money to other people's children. This is a reciprocal courtesy.Therefore, it is a matter of course that children's New Year's money should be handed over to their parents for other people's children.

Second, it is at the discretion of the child.

Some parents think that their children's New Year's money is at their own disposal, and they can buy whatever they want. Anyway, it's not a lot, just a few hundred dollars, and it should be considered as pocket money for their children.

Third, leave a part for the child, and other parents will keep it on their behalf.

For older children, many parents will adopt this approach: a part is controlled by the parents, and the other part is reserved for the child as pocket money to cultivate the child's financial management ability.

Fourth, help children deposit lucky money in the bank.

Some parents will open an account in the name of the child and deposit the lucky money received by the child in the bank as the child's future education expenses.

There are advantages and disadvantages to these several treatment methods. In response to this problem, experts have given more scientific and reasonable suggestions:
First of all, it is necessary to decide how to deal with the New Year's money according to the age of the child.

The way parents deal with New Year's money should be different according to the age of their children.Generally speaking, the age of children can be divided into three stages, and the ways to deal with lucky money are also divided into three correspondingly.

The first stage is for children under the age of 6.Children in this age group don’t know much about money, so parents of children at this stage should keep their children’s lucky money on their behalf, or deposit it in the bank as the child’s future education fund, or buy insurance for the child, or keep it to supplement the family Wait.

The second stage is for children aged 7 to 13.Children at this stage have begun to understand the meaning of money and are willing to hold money.For the lucky money received by these children, parents cannot confiscate and confiscate it casually. They can teach their children how to deal with the lucky money, such as taking them to deposit the lucky money in the bank, or taking them to use the lucky money to buy books in a bookstore, or donating the lucky money to welfare organizations.

The third stage is teenagers aged 13-18.Children in this age group are very sensitive to money and have a strong desire to hold lucky money. They even think that the lucky money is earned by them and should be at their own disposal.Therefore, for children of this age, parents should respect their willingness to control the New Year's money, pay attention to guidance, and can discuss with them how to use the New Year's money, and do not let it go.

In fact, it is not difficult to deal with children's New Year's money. As long as the correct method is mastered, New Year's money can become a good opportunity to educate children about financial management, which plays an important role in children's future growth.

(End of this chapter)