What to teach our daughters about money

Hi Nicole,

I have two daughters at home,aged 10 and 11. We don’t give them pocket money but they’re expected to do jobs like empty the dishwasher,pick up dog poo and pack lunchboxes. (By the way,what’s your take on parents paying their boys more pocket money than girls – can you believe that?) I now want to give my girls more visibility over money and start to teach them how to thrive in the real world. Any tips? And is the Spriggy pocket money app any good?

Marie

Wasn’t that crazy pocket money research,Marie? For other readers,arecent story reported that boys receive $13 a week on average and girls,$9.60.

Yup,there’s a gender pay gap worse in the home than in the workplace – 35 per cent as opposed to 15 per cent!

I can’t believe it would bewithin the same home – what kid would let you get away with that? – but certainly understand how it could happenacross different ones. Probably for the same reason,15 per cent of year 7 girls don’t know their parents’ jobs,versus only 6 per cent of boys,according tothe University of Queensland’s Business School.

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Bottom line,the idea that boys are breadwinners is hard to shake and easy to inadvertently share.

With all girls,Marie,I’m guessing they’re well aware that,well,they’re awesome. They can do,be and accomplish anything they set their minds to.

Even so,you’re bringing them into a world where outdated,unchecked attitudes could limit your loved ones.

Here are the three messages I seek to give my daughter,to set her up for an adulthood with options and opportunities:

To your daughters,constantly talk empowerment and excitement about where life can take them,Marie. Their possibilitiesshouldbe endless.

Nicole Pedersen-McKinnon is a money educator and consumer advocate. nicolehelps@fairfaxmedia.com.au. Next week:George Cochrane,Your Questions.