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Developing your child's financial strength through allowance training
Develop your child's financial strength with allowance training.
Description
Book Introduction
“I want my child to live happily without worrying about money.”

Many parents think this way.
That's why there are many parents who try to give their children whatever they want, even if it means going out of their way to do so, even if their family circumstances are not good.
But if you really want your child to grow up and live happily without worrying about money, you shouldn't do that.
Rather, we need to properly teach them what money is and how to manage it well.
To do that, it is best to start economic education before it is too late.

Economic education can begin as early as age 5.
However, rather than deciding when to start, it is important to learn economic concepts naturally in everyday life, as if playing a fun game or activity, and to build economic muscles through good economic habits.


This book presents economic education methods suitable for each age group from 5 to 13 years old.
But it doesn't have to be done sequentially.
Because each child's situation and level of understanding of economics are different, you can provide economic education tailored to your child based on the information presented in this book.
The best tool for teaching economics is 'pocket money'.
The core of financial education is to first help children budget how much money they need, give them that amount of money, and help them use it as planned within the promised period.
If you teach your child about finances slowly and steadily, his or her financial muscles will become stronger before you know it, and he or she will be able to manage money well without panicking in any situation and live a happy life.
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index
Prologue_ When and how should we begin economic education?

Chapter 1: How to Start Talking to Your Child About Money


Do children and parents trust each other?
Affection and trust are different things
How do you react when a child asks for pocket money?
Economic education is possible only when there is trust.

Economic education and financial education are different.
It's dangerous to start with financial education first.
People are at the center of economic education.
Training in managing money is economic education.

4 Rules to Follow When Talking About Money
1.
Be honest and don't make excuses.
2.
We need to make sure that we own the money.
3.
The child has the right to use it, but the parents have the power to decide.
4.
Let me tell you what is and isn't negotiable for allowance.

Chapter 2: Economic Education for Ages 5-7: Explaining Price and Value


5-7 years old, the age when economic education can begin
Why does economic education begin with a story about exchange?
Why is money used as a medium of exchange?

5 years old, start by telling the price
Why should I tell you the price?
Just let me know the price of the item you're interested in.
It's okay to compare and choose
Always use cash when teaching economics.
You shouldn't just ask "what do you like"
Tips for Teens | Teens Know Their Cell Phone Prices, But Not Their Electricity Bills
Minjun's Economic Growth Notes 1 | Price Inquiry

6-year-old, help me choose based on values.
Negotiation and Conditioning
How to Respond to Your Child's Request for Renegotiation
If you can't negotiate, be sure to explain why.
Negotiation FAQs
Minjun's Economic Growth Notes 2 | Practicing Rational Consumption

Age 7: Let them spend their own money.
If you want what you want, your money will disappear.
Cash is the default even when a child spends money directly.
Should the mother keep the remaining money or the child?
Snack Buying Activities: How to Make Them Effective
Minjun's Economic Growth Notes 3 | A Monthly Trip to the Bookstore

Chapter 3: Elementary School Children (Ages 8-10): Let's Start Training for Allowance

8-10 years old, need an allowance to learn how to handle money properly.
Preparing to start allowance training
With authority comes responsibility.
Do I really have to write down my allowance in a journal?

8 years old, start training for allowance
Isn't it too early to give him pocket money?
My child needs pocket money. What should I do?
Parents first agree on the principles and content.
Allowance budget: Children write it and discuss it with their parents.
The way you spend your allowance also affects your educational approach.
Allowance Training FAQs
Minjun's Economic Growth Notes 4 | Minjun, Should I Give You Allowance?

Age 9, please let me experience saving.
Adults' savings are different from children's savings.
Step 2 of Money Training: Add a Savings Plan to Your Budget
Before training your child to save, discuss ownership and use of money with them.
Help us create a successful savings experience
Savings Training FAQs
9-Year-Old Allowance FAQs
Minjun's Economic Growth Notes 5 | Lending Money to a Friend

10-year-old, write an allowance contract.
Allowance contract, too harsh?
Beware of the rules your parents often use.
Let's start real money training
Allowance Contract FAQs

Chapter 4: Upper Elementary School (Ages 11-13)
Let's give them control of their finances and teach them about household finances.


There are consumption characteristics of children aged 11 to 13, in the upper grades of elementary school.
I need to prepare for puberty
It's a time when the phenomenon of consumption synchronization occurs.

11-year-old, let your child initiate an allowance negotiation.
I'm at an age where I want to take the lead in consumption and negotiation.
It's better to hand over the initiative first
Writing a Child-Initiated Allowance Proposal
Allowance Negotiation FAQs

12 years old, please explain the concept and method of settlement.
You need to do a good job of closing the books so you can set up your budget for next month.
Practice writing financial statements
Settlement-related FAQs

13 years old, please show me our family's ledger.
Parents and children have different perceptions of their household finances.
Inaccurate information can actually be toxic.
If your child asks a question, be honest with them.
Before sharing your household finances, you need to prepare.
Home Economics FAQ
Minjun's Economic Growth Notes 6 | Mom, is our house really our house?

Epilogue: Children's Happy Future is Created by Economic Education

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Publisher's Review
Financial education and economic education are different.

“My child is very frugal.
“When I have money, I save it all without spending a single penny.”


It is easy to think that children like this do not need separate economic education.
But economic education is not about teaching you how to save and save.
Savings is part of financial education.
Many people think that financial education and economic education are the same, but there is a big difference.
If financial education teaches people how to understand the flow of money and how to save and invest to increase their money, economic education teaches people how to obtain and use what they need.
If financial education focuses on increasing money, economic education can be said to be education that not only increases money but also teaches how to use it effectively where it is needed.


It's dangerous to start with financial education.

Financial education is also very important in a capitalist society.
However, starting financial education before children have a sound understanding of economic principles and values ​​about money can have negative consequences.
For example, if parents invested their child's money in stocks and multiplied it several times, the child may think that working hard to earn money is trivial.
Therefore, it is best to first develop the correct values ​​about money through economic education and then provide financial education.


Training in managing money well is economic education.

Managing money well means ① working to have an income that can maintain a satisfactory living environment, ② checking my desires to spend, and ③ prioritizing my expenses within the income I earn.
None of these three must be missing.
For example, trying to make money like crazy, spending like crazy, or not owning anything at all are all far from managing money well.
GOODS SPECIFICS
- Date of issue: July 15, 2025
- Page count, weight, size: 264 pages | 152*225*20mm
- ISBN13: 9788997947478
- ISBN10: 8997947478

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