Some parents may welcome their teens earn pocket money by contributing to the household. Others may not require their teens to do chores. Either way, encouraging your teens to try a few jobs could help them make better career choices as they grow up.

Explaining financial concepts, like superannuation, to your kids can be difficult, especially when you’re unsure how the rules apply to kids.

It can feel like children grow up in the blink of an eye. One day, you’re changing nappies and wiping noses; the next, you’re slap bang in the middle of the teenage years, likely dealing with an adolescent's demands for spending money.

The sooner someone starts saving for retirement, the more money they’ll have in their post-working life. So if you want to help your children get a head start, you can consider setting up a superannuation account for them.

It’s hard to decide when to buy your kids something they ask for and when to deny them, especially if money is tight.

One solution is to first discuss the purchase with your kids and weigh up the pros and cons.

Choosing to give your children pocket money or just buying them what they want is a hard choice. So let’s look at the pros and cons of giving children pocket money to help you decide.

Giving your kids responsibilities and linking them to pocket money is another way to teach your kids the value of money.