What pocket money do Czech celebrities give to their children? Financial literacy is important, says a psychologist

The amount of pocket money isn't important. Giving children money for housework is wrong.
17.May 2021
 
Homepage New articles

Should children get pocket money? How much, and when to start? No parent can avoid asking themselves these questions sooner or later. We all want only the best for our children, but parents themselves often have no idea where to start giving children money and how to regulate it. Famous Czech personalities spoke to LP-Life about what pocket money they give to their children and how they teach them to manage their finances.

Děti drží v ruce peníze.

According to expert Emilie Šípová, it's not so much the amount itself as teaching your children's financial literacy what really matters. And though it may sound very simple, the cornerstone is dialogue. Take time to discuss everything thoroughly with your children.

“Rather than the amount of pocket money, it is important to lead the child to financial literacy. This means showing the child what money is, why we use it, where it comes from and how it can be managed. One way the parent can use pocket money is by agreeing with their first-grader that he/she will receive, say, 100 crowns a week, which he/she can spend on snacks for school. The parent then talks with the child about what such a snack should contain in order to be both healthy and tasty, and they plan together what to buy,"

says psychologist Emilie Šípová.

Otec s dcerou házejí drobné do prasátka.
Otec s dcerou házejí drobné do prasátka. • Source: Freepik

When to start giving children pocket money?

It's important to say that this is really up to you. There are no strict rules specifying when kids should start getting pocket money. But before you decide it's time, your children need to understand three basic things - they need money to buy things, it's important to save money and not spend it all at once, and if they spend it, it means that by the next time they get pocket money, they'll have nothing left.

Byt Smetanovo nábřeží 191m
Byt Smetanovo nábřeží 191m, Praha 1

You don't need to be afraid to start from an early age. Pocket money helps children from the age of four to five to learn about the value of money and how it is used. When they receive small money, they have to choose whether to spend it or save it. And this is where they can experience the feeling of waiting for the thing they want for the first time.

How do celebrities teach their children to manage their money?

Rules or effort, or free choice of how to teach your children the value of money, apply to everyone. We asked several Czech personalities what pocket money they give to their children.

Yvetta Blanarovičová se dnes učí o financích od svého syna
Yvetta Blanarovičová se dnes učí o financích od svého syna • Source: Profimedia

"Matyáš received pocket money when he went to a tournament or a summer camp, I think from the age of 8. We gave him a tiny amount of money for school, so he could buy a drink, he always had a snack with him and we cooked at home, so he went home for lunch. When he wanted more money, he had to take a side job and earn it. Only later, when he was in high school, did he receive regular pocket money,"

says actress and singer Yvetta Blanarovičová.

"Matyáš is an adult today, so now it's more like I'm asking him about financial matters," she adds with a smile.

Roman Vojtek, Benedikt Vojtek, Petra Vraspírová, Edita Vojtková
Roman Vojtek, Benedikt Vojtek, Petra Vraspírová, Edita Vojtková • Source: Profimedia

Roman Vojtek (48) told us that he doesn't give his children pocket money yet. From his first marriage, he has two children in joint custody, Edita and Benedikt (10 and 5 years old), and a new baby, five-month-old Nathaniel, with his current wife Petra.

"In addition to the money she receives from the whole family for various occasions, Viktorie has also been receiving pocket money since last year. She is 14 years old, gets 1,000 crowns a month and has the money on a bank account. Markus, who is nine, only receives money from the family for birthdays, name days, Easter or Christmas, and saves it,"

actress Vlaďka Erbová shared with LP-Life.

"Children should know the value of money so that they would be aware that nothing is for free," she adds.

Vlaďka Erbová s dcerou Viktorií Bahenskou
Vlaďka Erbová s dcerou Viktorií Bahenskou • Source: Profimedia

Presenter Markéta Fialová also told us that her two big children receive pocket money.

Markéta Fialová s dcerou Emmou.
Markéta Fialová s dcerou Emmou. • Source: Profimedia

"My girls have been getting pocket money from about the third grade, I think it was 150 crowns a month back then; it gradually increased. Now they are 19 and 16 years old and we've gotten up to 500 crowns a month, in addition to which they both earn extra money from time to time. From the age of fifteen, both of them have also had a bank account, where I put their money. I think they've mostly been spending their pocket money on gifts for their friends and for us, some coffee here and there, and so on.”

It is also important to realize that children learn a lot by watching how you use money yourself. If your child sees that you are setting a spending limit or shopping at the best price, you will help them learn to stay within a budget.

Presenter Vojtěch Bernatský, on the other hand, revealed that he and his wife do not give their children a fixed amount of pocket money.

Vojtěch Bernatský s manželkou a dětmi.
Vojtěch Bernatský s manželkou a dětmi. • Source: Profimedia

"We haven't been thinking about it yet. Maybe it's because we actually buy our children almost everything they want. We have zero willpower. Fortunately, we have good and grateful children. Naturally, our 9-year old Eliška already has better awareness about the value of money than the 4-year-old Matyáš, but we're trying to impress on both of them that money doesn't fall from the sky. I will be happy if they also have other values ​​in life than those that can be counted."

Is there actually a correct amount?

Matka s dcerou počítají drobné.
Matka s dcerou počítají drobné. • Source: Freepik

Unfortunately, we have to say no! There really is no answer to this question. Children will subconsciously always want more. They'll begin to compare themselves to other kids, become jealous of their classmates. That makes it a losing fight. However, according to the statistics of Česká spořitelna, Czech children aged 8 to 11 receive an average of 250 crowns a month, whíle second grades usually receive 420 crowns.

“It depends a lot on the context in which the family lives and what rules they are following. Whether the pocket money is intended to be spent on toys, whether the child is saving up to buy a plane ticket or go for a trip. All of those are important variables. Personally, I think it's good for children to learn cooperation - the child has some responsibility, and so does the parent,"

says psychologist Emilie Šípová.

Monthly or weekly pocket money?

Rodiče drží v ruce kasičku.
Rodiče drží v ruce kasičku. • Source: Freepik

This largely depends on the age of your children. In the case of the smaller ones, a shorter interval is always better. At such an age, it will make it easier for them to plan their expenses and purchases. Ask questions, plan together. They will certainly welcome your helping hand. Do they want a new toy? Calculate with them how much it costs and how long they will have to save up for it.

"When they need something more, it's not a problem to come to an agreement, but we've never kept a close eye on their expenses. In any case, I think that having "their own" money is important for a child from a reasonable age, just as it is important for them to try to earn it themselves from a certain age,"

says moderator Markéta Fialová. As many as 64% of children in a survey conducted by Česká spořitelna said that were saving up for a dream thing. But children also often use their pocket money to buy sweets and soda.

Monika Marešová, who has two children with Leoš Mareš, also teaches her children to manage their money.

"Yes, my children have been receiving pocket money from the 1st grade... At first, it was 100 crowns a month. Now my 11-year-old son gets 200 crowns a month, and the older, 15-year-old Jakub gets 1,000 crowns a month. At this point, it has taught them the value of money and that they have to save up, for example, for Christmas gifts, birthdays gifts for the family, etc. If they want to buy something, I usually contribute to it, but they have to add some of their own money."

Monika Marešová se syny Jakubem a Matějem
Monika Marešová se syny Jakubem a Matějem • Source: Profimedia

You'll get twenty for vacuuming

This is not the way. It's good to motivate children and, from time to time, increase their pocket money, for example when they get good grades at the end of the school year. But in the case of housework, it could easily backfire - "I'll clean up if you pay me".

Kluk drží v ruce bankovky.
Kluk drží v ruce bankovky. • Source: Freepik

"Personally, I don't consider it appropriate to give a child money for work in the household. There should be a fair division of responsibility for the common space in which we live, and where we strive to feel comfortable,”

explains psychologist Emilie Šípová.

And how about you and your kids? What do you think is the "optimal" amount of pocket money?

Luxury Prague Life

Share / become a fan

Photo gallery (0)

View photo gallery

About the author

Kateřina Ostrejšová
Luxury Real Estates
Luxusní vila na prodej v Průhonicích
Okolí Prahy

Luxusní vila na prodej v Průhonicích

4 + 1 500 m², ter. 200 m²
price upon request
Show property
Luxusní prvorepubliková vila na prodej v Praze

Luxusní prvorepubliková vila na prodej v Praze

9 + 2 620 m²
price upon request
Show property
Rodinný dům na prodej Praha 4 - Braník - 217m
Praha 4

Rodinný dům na prodej Praha 4 - Braník - 217m

5 + KK 217 m²
21 594 643 CZK
Show property
Luxusní vila na prodej - Praha - západ - 632m
Okolí Prahy

Luxusní vila na prodej - Praha - západ - 632m

6 + KK 632 m²
price upon request
Show property
Luxusní vila na prodej v Šáreckém údolí
Praha 6

Luxusní vila na prodej v Šáreckém údolí

7 + 2 440 m², bal. 5 m²
price upon request
Show property
Luxusní penthouse s terasou Troja 310m
Praha 7

Luxusní penthouse s terasou Troja 310m

6 + KK 310 m², ter. 12 m²
price upon request
Show property
Luxusní penthaus na Praze 1 - 226m
Praha 1

Luxusní penthaus na Praze 1 - 226m

4 + 1 226 m², bal. 7 m², ter. 24 m²
price upon request
Show property
Prodej luxusního bytu Praha 1- 212m
Praha 1

Prodej luxusního bytu Praha 1- 212m

4 + KK 212 m², ter. 7 m²
price upon request
Show property
Byt Smetanovo nábřeží 191m
Praha 1

Byt Smetanovo nábřeží 191m

4 + KK 191 m², bal. 3 m²
price upon request
Show property
Luxusní byt se zahradou na Praze 8 - 346m
Praha 8

Luxusní byt se zahradou na Praze 8 - 346m

4 + KK 146 m², ter. 27 m²
price upon request
Show property
Byt Malá Strana Magenta 31m
Praha 1

Byt Malá Strana Magenta 31m

1 + KK 31 m², bal. 3 m²
price upon request
Show property
Penthouse s výhledem na Hrad na prodej - 288m
Praha 1

Penthouse s výhledem na Hrad na prodej - 288m

5 + 1 288 m², ter. 42 m²
price upon request
Show property
Pronájem luxusního bytu Praha
Praha 4

Pronájem luxusního bytu Praha

4 + KK 246 m², ter. 39 m²
price upon request
Show property
Luxusní byt na pronájem Smetanovo nábřeží 235m
Praha 1

Luxusní byt na pronájem Smetanovo nábřeží 235m

5 + KK 235 m²
69 000 CZK
Show property
Luxusní byt na prodej - Praha 2 - Vinohrady
Praha 2

Luxusní byt na prodej - Praha 2 - Vinohrady

2 + KK 53 m², bal. 3 m²
11 850 000 CZK
Show property
Pronájem luxusního bytu s terasami Praha 4
Praha 4

Pronájem luxusního bytu s terasami Praha 4

3 + KK 137 m², ter. 17 m²
price upon request
Show property
Luxusní byt k prodeji - Praha 5 - 93m
Praha 5

Luxusní byt k prodeji - Praha 5 - 93m

3 + KK 93 m², ter. 11 m²
11 258 000 CZK
Show property
Vila na pronájem - Praha 6 - Hanspaulka - 256m
Praha 6

Vila na pronájem - Praha 6 - Hanspaulka - 256m

5 + KK 256 m², bal. 15 m², ter. 24 m²
price upon request
Show property
Pronájem luxusního bytu s terasami Praha 4
Praha 4

Pronájem luxusního bytu s terasami Praha 4

3 + KK 137 m², ter. 17 m²
price upon request
Show property
Luxusní byt na pronájem Na Hřebenkách - Praha
Praha 5

Luxusní byt na pronájem Na Hřebenkách - Praha

4 + KK 199 m², ter. 14 m²
85 500 CZK
Show property
Prodej rodinného domu na Praze 5-191m
Praha 5

Prodej rodinného domu na Praze 5-191m

5 + KK 191 m²
19 850 000 CZK
Show property
Luxusní byt na prodej - Praha 2 - Vinohrady
Praha 2

Luxusní byt na prodej - Praha 2 - Vinohrady

2 + KK 53 m², bal. 3 m²
11 980 000 CZK
Show property
Luxusní byt na prodej - Praha 2 - Vinohrady
Praha 2

Luxusní byt na prodej - Praha 2 - Vinohrady

2 + KK 57 m²
11 920 000 CZK
Show property
Byt na prodej - Praha 6 - Liboc - 47m
Praha 6

Byt na prodej - Praha 6 - Liboc - 47m

2 + 1 49 m², bal. 2 m²
5 746 000 CZK
Show property
Luxusní byt na prodej - Praha 2 - Vinohrady
Praha 2

Luxusní byt na prodej - Praha 2 - Vinohrady

3 + KK 93 m², bal. 3 m²
19 960 000 CZK
Show property
Luxusní penthouse na prodej Praha
Praha 6

Luxusní penthouse na prodej Praha

4 + 1 242 m², ter. 68 m²
price upon request
Show property
Byt na prodej - Praha 6 - Liboc - 105m
Praha 6

Byt na prodej - Praha 6 - Liboc - 105m

3 + KK 105 m²
10 934 000 CZK
Show property
Byt na prodej - Praha 8 - Libeň - 60m
Praha 8

Byt na prodej - Praha 8 - Libeň - 60m

2 + 1 60 m²
6 589 000 CZK
Show property
Byt na prodej - Praha 8 - Libeň - 73m
Praha 8

Byt na prodej - Praha 8 - Libeň - 73m

2 + 1 73 m²
7 490 000 CZK
Show property
Luxusní byt na prodej - Praha 2 - Nové Město
Praha 2

Luxusní byt na prodej - Praha 2 - Nové Město

7 + KK 259 m², ter. 12 m²
price upon request
Show property
Moderní kanceláře k pronájmu, Praha 1 - 721m
Praha 1

Moderní kanceláře k pronájmu, Praha 1 - 721m

Atypický 721 m²
price upon request
Show property
Luxusní kancelář na prodej, Praha 1 - 209m2
Praha 1

Luxusní kancelář na prodej, Praha 1 - 209m2

5 + 1 209 m²
price upon request
Show property
Kanceláře k pronájmu, Praha 1 - 387m2
Praha 1

Kanceláře k pronájmu, Praha 1 - 387m2

Atypický 387 m²
155 000 CZK
Show property
Obchodní prostory k pronájmu, Praha 8 - 280
Praha 8

Obchodní prostory k pronájmu, Praha 8 - 280

Atypický 280 m²
price upon request
Show property
Obchodní prostory k pronájmu, Praha 8 - 70
Praha 8

Obchodní prostory k pronájmu, Praha 8 - 70

Atypický 70 m²
price upon request
Show property
Restaurace k pronájmu, Praha 8 - 519
Praha 8

Restaurace k pronájmu, Praha 8 - 519

Atypický 721 m², ter. 202 m²
price upon request
Show property
Moderní kanceláře k pronájmu, Praha 8 - 446
Praha 8

Moderní kanceláře k pronájmu, Praha 8 - 446

Atypický 446 m²
price upon request
Show property
Moderní kanceláře k pronájmu, Praha 8 - 332
Praha 8

Moderní kanceláře k pronájmu, Praha 8 - 332

Atypický 332 m²
price upon request
Show property
Moderní kanceláře k pronájmu, Praha 8 - 361
Praha 8

Moderní kanceláře k pronájmu, Praha 8 - 361

Atypický 361 m²
price upon request
Show property
Moderní kanceláře k pronájmu, Praha 8 - 483
Praha 8

Moderní kanceláře k pronájmu, Praha 8 - 483

Atypický 483 m²
price upon request
Show property
Moderní kanceláře k pronájmu, Praha 8 - 249
Praha 8

Moderní kanceláře k pronájmu, Praha 8 - 249

Atypický 249 m²
price upon request
Show property
Moderní kanceláře k pronájmu, Praha 8 - 490
Praha 8

Moderní kanceláře k pronájmu, Praha 8 - 490

Atypický 490 m²
price upon request
Show property
Luxusní byt na pronájem Staré Město - 212m
Praha 1

Luxusní byt na pronájem Staré Město - 212m

6 + KK 212 m², bal. 5 m²
90 000 CZK
Show property
Luxusní kancelář na prodej Nové Město - 109 m²
Praha 1

Luxusní kancelář na prodej Nové Město - 109 m²

3 + KK 109 m²
17 995 000 CZK
Show property
Prodej luxusní administrativní budovy v Praze
Praha 6

Prodej luxusní administrativní budovy v Praze

966 m²
42 000 000 CZK
Show property
Obchodní prostor na prodej, Staré Město - 215

Obchodní prostor na prodej, Staré Město - 215

215 m²
price upon request
Show property
Luxusní byt na pronájem s výhledem na řeku
Praha 1

Luxusní byt na pronájem s výhledem na řeku

3 + 1 94 m²
34 900 CZK
Show property
Prodej luxusní administrativní budovy v okolí
Praha 9

Prodej luxusní administrativní budovy v okolí

5 + 2 1173 m²
price upon request
Show property
Obchodní prostor na prodej na Praze 8 - Karlín
Praha 8

Obchodní prostor na prodej na Praze 8 - Karlín

Atypický 489 m², ter. 211 m²
price upon request
Show property
Luxusní vila na prodej Braník -217m
Praha 4

Luxusní vila na prodej Braník -217m

5 + KK 217 m²
22 396 514 CZK
Show property
Rodinný dům na prodej - Praha 4 - Braník
Praha 4

Rodinný dům na prodej - Praha 4 - Braník

5 + KK 217 m²
21 365 218 CZK
Show property
Luxusní byt v Troji 149m
Praha 7

Luxusní byt v Troji 149m

3 + KK 149 m²
21 800 000 CZK
Show property
Luxusní byt na prodej na Praze 5 -115m
Praha 5

Luxusní byt na prodej na Praze 5 -115m

3 + KK 115 m²
price upon request
Show property
Prodej luxusní vily v okolí Prahy
Praha 9

Prodej luxusní vily v okolí Prahy

5 + 2 1173 m²
price upon request
Show property
Byt v historické budově Praha 6 - 210m
Praha 6

Byt v historické budově Praha 6 - 210m

4 + KK 210 m²
price upon request
Show property
Luxusní byt s terasami Hřebenky - 251m
Praha 5

Luxusní byt s terasami Hřebenky - 251m

5 + KK 251 m², bal. 26 m²
price upon request
Show property
Supermakléřky - real estate comics