Financial education
How children learn to manage money
Through pop culture and social media, children today are exposed to constant inducements to buy things. To tackle these temptations, they need basic financial knowledge. How do Swiss parents address this issue? Our “Swiss Pocket Money Study” provides answers, while also disproving a well-known cliché: contrary to the maxim of “One does not talk about money”, money is no longer a taboo in Swiss families.
Win a year’s worth of pocket money
We are giving away 10 x 500 francs in pocket money for children up to the age of 12. The money will be transferred to the winners’ accounts. The children’s parents are eligible to participate.
Talking openly about money
Money shouldn’t be a taboo subject. Over 95 percent of the parents surveyed believe money should be spoken about openly. They think it’s important to talk about money early on so their children learn to make sensible financial decisions rather than allowing themselves to be swayed without thinking.
Financial knowledge can give you a good start in life
Many parents agree that money isn’t everything in life. When it comes to education, however, managing money is a top priority because financial knowledge is seen as one of life’s basic skills. Financial education starts at home. With pocket money.
Pocket money is an important training ground
Pocket money is an essential training ground for learning the value of things. Parents focus on cash to begin with, because children find it easier to learn with physical things. Only once they have grasped this are they ready to move onto the next stage: digital forms of payment.
With pocket money, children learn how to be careful with finances
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Preschool/primary school
Nursery school to grade 3
Learning the basics in a fun way
As parents, you are role models: talk openly about money. For instance, when you’re out shopping, you can talk about the costs of products. Children can also be introduced to money with fun activities, such as playing shop.
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Middle school
Grades 4 to 6
Taking on responsibility for the first time
Encourage initiative: get your kids to take on mini jobs and to save a bit of money in their piggy banks. Children should also gain some initial experience of digital means of payment at this time (TWINT, prepaid, etc.).
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Upper level
Grades 7 to 9
Practising independent financial management
Using e-banking and an EC card: show your child how to draw up a budget and how to get a feel for expense planning. Your child should also practise using digital tools independently.
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Apprenticeship/high school
After compulsory schooling
Improving how your kids deal with fixed costs and income
Help them to plan out their monthly spending. Depending on what their apprentice salary is, your child could cover some living costs themselves. Holiday/weekend jobs promote financial independence and the value of money children have earned themselves.
Teaching kids how to use money – but how?
When should we start discussing money with our children? How can we make the subject appropriate to their age? And what rules can help us do this? If children get to manage their own pocket money early on, this not only fosters a sense of responsibility, but also the ability to make good decisions. Below you’ll find handy tips on how you can teach your kids to be smart about managing finances, step-by-step.
FAQ on financial education: in simple terms
Financial education should start as soon as a child has a basic understanding of numbers. A suitable time to begin financial education is when children start school at around the age of six because they can count by then, plus they start getting curious about money.
Introducing pocket money is a good initial step. This allows children to gain their own experience managing, saving and spending money, and they start to get a feel for the value of money.
The right time can, however, vary: if your child asks you questions about prices, questions the value of things, or enjoys collecting coins, then this shows a natural curiosity that is perfect for introducing them to the topic of finances.
The amount of pocket money you give should be guided by the age of the child and the family’s financial means. What matters is that you pay the money regularly and reliably.
Pro Juventute (source: The link will open in a new window Pro Juventute, 2025) recommends for learning how to manage money:
- Younger children (6 to 9 years old): small sums, paid weekly, for step-by-step learning
- Older children (10 years old and above): higher sums, paid every two weeks or every month, for long-term planning
- Young people in training: preparation for independent cost areas, tailored to apprentice salary or side jobs
| Child’s age (school year) | Recommended amount | Payment frequency |
|---|---|---|
| Child’s age (school year) 6 years old (grade 1) |
Recommended amount CHF 3 |
Payment frequency per week |
| Child’s age (school year) 7 years old (grade 2) |
Recommended amount CHF 4 |
Payment frequency per week |
| Child’s age (school year) 8 years old (grade 3) |
Recommended amount CHF 5 |
Payment frequency per week |
| Child’s age (school year) 9 years old (grade 4) |
Recommended amount CHF 15 |
Payment frequency every two weeks |
| Child’s age (school year) 10 years old (grade 5) |
Recommended amount CHF 18 |
Payment frequency every two weeks |
| Child’s age (school year) 11 years old (grade 6) |
Recommended amount CHF 20 |
Payment frequency every two weeks |
| Child’s age (school year) 12 years old (grade 7) |
Recommended amount approx. CHF 50 |
Payment frequency per month |
| Child’s age (school year) 13 years old (grade 8) |
Recommended amount approx. CHF 60 |
Payment frequency per month |
| Child’s age (school year) 14 years old (grade 9) |
Recommended amount approx. CHF 70 |
Payment frequency per month |
| Child’s age (school year) high school/apprenticeship |
Recommended amount approx. CHF 80 to CHF 110 |
Payment frequency per month |
Pocket money is an agreement between parents and their children. Your job is to pay the agreed amount reliably, without being asked. Important: this money is meant to be for what your child wants, not essentials like clothing, school materials or public transport.
Cash payments
For younger children, we recommend paying pocket money in cash. This way, they literally get to grips with money, get a feel for the value of coins and notes, and they see the tangible results of savings.
Digital payments
For children aged about 12 up, consider making the payment digitally to a youth account or prepaid card. Monthly transfers encourage children to be more conscious about larger sums over longer periods of time, and they help them get used to cashless payment methods.
Pocket money is designed to teach children how to be responsible with money, and so should not be tied to duties or work. Children should receive it regardless of help around the house or school grades. It’s also important for children to be able to decide themselves how to spend the money. This is true even if parents don’t always agree with what they’ve decided to buy – this is the only way children learn the value of money and gain valuable experience using money.
Pocket money is a training ground: children learn to understand the value of money, how to manage it and how to save up for bigger purchases. Essentially, they should be free to spend it how they want. However, parents should still enforce important family rules, e.g. on sweets, screen time or age-appropriate media.
Even if children buy snacks or video games themselves, these boundaries remain in place. They provide guidance and foster responsibility and initiative within a clear framework.
Pocket money boosts financial literacy because having their own money helps children learn how to make decisions: spend or save? A short-term treat or a long-time goal? These experiences help foster a better understanding of the value of money and the importance of planning.
Dialogue also matters: parents should discuss money regularly with their children, whether about spending, saving or what they want. Not only does this convey knowledge, but values, too.
As children get older, pocket money can be supplemented with a youth or savings account. This way, children learn how to handle digital means of payment, how to keep an eye on account balances and how to set savings objectives – all of which are important steps on the road to financial independence.
PostFinance banking packages for children and young people
Accounts, cards and apps for children and young people, all bundled and free of charge. For managing pocket money, savings and their first salary the smart way.
SmartKids
The ideal account for pocket money and savings for all goals great and small.
SmartYoung
The youth account with a card for learning to manage pocket money and a salary for the first time.
