What age do children understand money

[Formyson15]

So I have a 15 year old he's always going on about money or asking for stuff constantly even though Xmas is round the corner. He does not leave it when I say no he gos on and on. . It just does not stop. To the point I feel like crying.

He does not get much pocket money wise . He gets 15.00 a week. But if he was doing something special like the cinema or an actual day out then I will give him more.

I have had to cut back a bit not really badly just a few swaps. He's also moaning about that even though he will eat it.

I made the mistake if telling him I'm popping to b&m to get Xmas decorations
Him: what time are you going? Straight after morning school run. Him: but what exactly are you getting? Me: I don't know, I'm just going to look. Him: but what is your budget Him much are you going to spend.

Sometimes I say things that I think is a normal conversation. For example I might say to my daughter well I get paid on Wednesday as well so we can go get a few bits . So that just general conversation to arrange things where we both have a bit of money.... but with my so if simlar was said he will use it almost like a weapon. Well I know you get paid tomorrow. So he thinks it means he can get what he wants.

So I'm not sure if this is just typical teenage stuff or not.

A few things to consider is. He is under CAMHS after trying to end his life . He's also being screened for ADHD.

He has been very aggressive at times although it has tinned down recently.

I have mentioned the above as I'm not sure if it could be linked to his situation. Also to explain that he's not in the right mindset to get a job/paper round or simlar.

How long is a piece of string.
How much does anyone understand Money? It's taken me about 38 years.
Because yes my own failing but it was never put into context for me.
Eg parents never showed me their budgets and what's they paid for and what they had left.
One of my DC was born good with money and waiting for pleasure and the other wants everything now. For her I've for a hyperjar card and I'm trying to get her too manage her money from an early age.
I've showed her my actual budget list of where money goes each month and I hope to keep doing this and sharing.
There is no way even she could get to 15 and Badger me about money because she will know what I have and where it goes.

I'm also teaching mine about investing.

I think DD 2...may have impulsive tendancies.

So ,DC are born how they are born and I hope my strategies work out with DD 2!

£15 a week is generous if that's just his money to spend on what he pleases, with extra money on top.
Does he have to do any chores to earn that to understand the value of money?

And yes 15 per week is very generous.
Again with dd1 before she spent any money I put away about 10 a month,by the time she started spending she got a few hundred.
When i can I put 30 away a month from different sources. Sometimes it's 10 but because she has already got. 100s and doesn't spend that's fine.

DS6 is starting to get it. He can earn money by keeping his room tidy and / or by being good at the supermarket.

He can put the cost of things into context of what he earns. If I tell him something costs $1000 he understands it's a huge amount of money.

He is incapable of saving. I am trying to teach him!

No he does not do anything. But that is all linked with the mental heath aggression etc . Which I don't want to go deeply into. It was only mentioned just to let people know its not a clear cut situation.

If I showed my son the budget and I had money left over he would start demanding things.

I get what you mean about children being different though. Never thought of it like that.

And just to add incase anyone gets confused I name changed and forgot I had posted back on another name.

One thing I had at that age which helped hugely was a monthly allowance. Absolutely everything had to come out of that - clothes, make-up, trips to cinema etc. My parents would only ever buy essentials- like if my shoes were falling apart or needed an outfit for a family wedding. The amount was decided between us after working out average spends and calculating over the year - it meant I was aware that I agreed to this so couldn't ask for more.

I think you need to stop conversations involving any money, or the potential spending of it. Don't mention pay day, don't mention that you are going to the shops - nothing. Don't talk about it at all. At the moment, you are the one bringing the subject up all the time, so you are feeding into it.

This isn't a lack of understanding, this is him trying to manipulate you.

56yrs

£15 a week is incredibly generous!
Does he have a savings account? My DS had a savings account from a very young age and liked the idea that his money was being saved and he knew he had to reach a certain amount before he could buy something special. He also learned about investments and pensions (we set up a pension plan for him when he was born!). But he's genuinely interested in money and has gone on to study Economics at Uni .

Have you explained to your DS how a household budget works, monthly expenses, annual bills, savings, pensions, tax etc etc. Just because you are paid £X doesn't mean you can spend £X.

But I appreciate that not everyone is confident about understanding finance, in our family it is the norm to be boringly frugal so it does come fairly easy to us,

I agree with @barskits

He has a very generous amount of money to use purely for his own treats.
Your money has nothing to do with him.

As to what age, it varies hugely - both on the individual child, but also on what their experience has been like up to now.

If you teach them from age about 7 that their pocket money is X and "when it's gone, it's gone", but if you put some of it into savings then you will be able to afford Y later, it is all learning and some 'get it' as children. OTOH, some don't really get it until they start their first PT job, when it becomes more real that they have to work X hours to be able to buy Y.

Its to late now. Where he knows when I get paid is where he's asked for something and he's gone on and on and I have firmly said "no I do not get till Thursday now stop" so this how that happend.

And yes I will have to make sure I don't mention I'm.popping to the shops . Just feels like such a normal conversation.