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Minimalists: Cultivating good money habits from a minimalist

There is no definition of what a minimalist is. There’s a growing movement inspired by living a life of abundance with less, but there is no definition for what minimalism is. Here is an interview with an inspirational minimalist, Joshua Becker: I was an accidental minimalist. In fact, I didn’t realise what I was doing actually had a term to describe it. I have never been much of a hoarder but I don’t like throwing away things, especially if they
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Chores: to pay or not to pay our children

Regardless of your decision to give your children pocket money or not, another vexed question many parents face is whether to pay their children for household chores. Let me make this clear. I’m not referring to pocket money that is tied to household chores. I’m referring to paying children to complete household chores, irrespective of whether they also get pocket money. Pocket money vs paying for chores We must clearly distinguish ‘pocket money’ from ‘paying for chores’. For me, pocket
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Pocket money: Does it have a place in children financial literacy?

Pocket money (called an ‘allowance’ in some parts of the world) is a gold mine for the finance industry. Apparently it is worth $1.4 billion a year. A long time ago, public schools in Australia were in fact involved in teaching children about money. Teachers were the bankers for a Government bank and the school banking initiative was supported by the Government. Today, there is no Government bank – all banks in Australia are now privatised. School banking is now optional and
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The correct way to give Pocket Money

Many people do the pocket money thing, yet there is no one adopts the same method. I believe in giving young children pocket money. As a law lecturer, my lessons are most effective when I have communicated my messages clearly. I teach the same subject to multiple classes year after year, yet I never teach my classes the same way. The style I use in each class depends on so many variables it would be impossible to replicate each class.
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The most effective way to curb Pester Power

Like many parents, I have battled (often unsuccessfully) with my children’s pester power – especially for junk food and toys. I’m not sure if there is a correlation between children receiving pocket money and pester power, but it would sure make for an interesting study! Like many parents, I have Googled strategies to deal with this situation. They all come back to one simple message – ignore the pester and stay calm. Yeah right! Don’t get me wrong – the
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