Financial education is the key to being able to control your money, understand the broad outlines of how the economy works, and thus be able to make informed financial decisions while avoiding scams.
However, 85% of French people have not benefited from this type of education, according to a 2016 Ifop survey taken as a reference by the Ministry of the Economy.
In order to remedy this shortcoming, the public authorities have been stepping up initiatives in recent years to enable citizens to understand questions of money.
In particular, a Financial Education Week is organized each year by the Banque de France and takes the form of numerous workshops offered in high schools.
However, this kind of one-off event cannot be enough.
And it is above all at home and thanks to the supervision of parents that adolescents must learn the value of money and gradually learn how to manage their budget.
And this begins with the allocation of pocket money, then with each increase in the latter according to the age of the young beneficiary.
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Rather than acting arbitrarily, this is an opportunity to engage in dialogue with your child to find out their expectations, negotiate the amount and explain your final choice. Likewise, you can start by giving this nest egg on an ad hoc basis, then weekly, before moving to a monthly format around the age of 14, when it becomes more autonomous and responsible.
This spacing of payments will allow young people to gradually learn to manage their funds so as not to squander everything at once.
From the start of their teenage years, you can also provide them with a payment card that will strengthen their sense of independence.
The offers targeted for teenagers do not allow any bank overdraft.
In addition, some specialized neobanks like Kard and Pixpay are playing the financial education card by offering a mobile parental supervision interface, as well as advice, information and tips on management and savings.
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How much pocket money?
The French give on average between 20 and 30 euros per month of pocket money for college students, against 30 to 50 euros per month for high school students, according to a survey carried out by Pixpay in 2020.
Silver
Budget
Economy
Bank
Teenager
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