At the eleven or twelve years of age, they should possess some money for their personal needs. This amount of money does not have to be neither too appreciable nor too little. In any case, parents do not have to forget about the use of money by the child. What they have to do is to guide them to a correct administration of it. They must instruct them with examples taken from life itself, and tell their sons that happiness cannot be acquired with money.
Kids never have to have enough money to be spent.
Children aged 8 to 18 feel the need of spending all they have. If they have anything they want they get to show no interest towards things. A child whose house is hemmed in by toys and electrical appliances can be led to a mental scattering which prevents him from looking deeply into a matter. When growing older he will look for shelter in places where money makes him be appreciated and admired. A child should be taught to take care of his things, to repair a toy or an electrical appliance, to mend a piece of furniture, etc. 7.