Many children first learn the value of money by receiving an allowance(pocket money). The purpose is to let children learn from experiences at an age when financial mistakes are not very costly.
The amount of money that parents give to their children to spend as they wish differs from family to family, Timing is another consideration. Some children get a weekly allowance. Others get a monthly allowance.
In any case, parents should make clear what , if anything, the child is expected to pay for with the money. At first, young children may spend all of their allowance soon after they receive it. If they do this, they will learn the hard way that spending must be done within a budget. Parents are usually advised not to offer more money until the next allowance.
The object is to show young people that a budget demands a choice between spending and saving. Older children may be responsible enough to save money for larger costs, like clothing or electronics. Many people who have written on the subject of allowances say it is not a good idea to pay you child for work around the home. These jobs are a normal part of family life.
Paying children to do extra work around the house, however, can be useful. It can even provide an understanding of how a business works.
Allowances give children a chance to experience the three things they can do with money. They can share it in the form of gifts or giving to a good cause. They can spend it by buying things they want. Or they can save it.
Saving helps children understand that costly goals require sacrifice. You have to cut costs and plan for the future. Requiring children to save part of their allowances can also open the door to future saving and investing . Many banks offer services to help children and teenagers learn about personal finance.
A saving account is an excellent way to learn about the power of compound interest .
Compounding works by paying interest,So, for example , one dollar invested at two percent interest for two years will earn two cents in the first year. The second year, the money will earn two percent of one dollar and two cents, and so on. That may not seem like a lot, But over time it adds up.
1.Giving an allowance, parents should consider all the following EXCEPT
A.how much the child should get each time
B.whether the child has made a budget
C.where the money really goes
D.how often a child can get it
2.According to the passage, how can a child learn to have a budget?
A.Through their own experiences. B.Through parents’ instruction.
C.By spending allowance. D.By receiving allowance.
3.The author of the passage holds the opinion that .
A.what children learn by handling allowances may be beneficial in the future
B.children can learn to set up their own business with their allowances
C.keeping allowances in the bank is the best choice for children
D.it is not a good idea to pay children to do housework at home
4.The underlined words “compound interest” in the passage probably means .
A.increasing curiosity to learn how to make more money
B.stronger power to hold one’s attention to saving money
C.money paid by the bank on your original money and the gain from it
D.the sum of money that you earn from keeping your money in the bank
5.What is the best title for the passage?
A.Be Generous To Pay Your Children
B.Be Wise To Avoid Financial Mistakes
C.Saving Allowances Does Good To Children
D.Allowances Help Children Learn About Money
20080411
BAACD
A. Profits enlarging B. Technology developing C. Education investing D. Benefits transferring E. Dominance disappearing F. A nation rising |
The following is an imaginary diary entry written by US president. This diary is part of Global Trends 2025, which was written by the US National Intelligence Council
80
The
81
The
82
Global wealth and economic power will shift from West to East.
83
84
The transition from old fuels to new will be slow, as will the development of new technologies that present feasible alternatives to fossil fuels or help eliminate food and water problems. All current technologies are inadequate, and new ones will probably not be commercially possible by 2025