In this photograph released by the Iraqi Special Tribunal on Monday June 13, 2005, former Iraqi dictator Saddam Hussein is seen being questioned by investigating magistrates. It was unclear when or where the questioning took place. An announcement accompanying the tape said Saddam was being questioned about crimes related to the execution of at least 50 Iraqis in 1982 in the Shiite town of Dujail, (80 kilometers) 50 miles north of Baghdad, in retaliation for a failed assassination attempt against him. (AP Photo/Iraqi Special Tribunal)



Things to consider when giving your children allowance.

* How often?
According to experts, at first, give certain amount of money to your children according to the price of the things they want. After that, give it in terms of weekly, bi-weekly or monthly. Once you decide your weekly term, you should start talking about how to deal with the money, how to use it well and the importance of saving, to your children. Generally, for elementary school students, once a week and for middle and high school students once a month is recommended.

* How much?
First, you need to discuss the amount with your children. Second, give them a little more than they usually need. That way they can figure out a way to manage their money and they can also consider savings.

* The Economics of allowance
You need to encourage your children to spend their money wisely, and within their limits. Such as getting the things they need first and then getting things they want later. Money from shining dad’s shoes, recycling empty bottles, selling second-hand goods at a flea market and so on are the results of hard work. You need to let your children find out about that value. Moreover, once you start giving them an allowance, children have to be responsible for their expenses. If they are having difficulties with money because of impulse buying, you shouldn't help them right away. You have to give them some time to realize the importance of responsibility.

* Teach them how to manage their allowance
If your children receive extra pocket money on New Year’s Day and from relatives they haven’t seen for quite a while, let them keep the money. It’s better to let them handle it. If you worry about losing the money, open an account for your child. Any financial account for children guarantees big money in the future as wll as an insurance effect.

* Do not connect their daily chores with allowance
Things like making their beds, cleaning their rooms and looking after their brothers and/or sisters should not count towards extra allowance. If they study hard and do well in school, let them have what they want instead of giving them extra money.
/ 입력시간: 2005. 06.14. 09:45