Telling your child to save money is important, but it can lead to catastrophe if you don’t give them the right context.
I used to steal…
Mom used to say: We don’t earn that much…
It all started with 10k VND.
Back when I was in year 5, my mom used to give me 10k VND each month. It was cheap back then. With 10k per month, I was still able to get snack once per week and still have like 2-3k left. But, I was sent to a rich school…
I got into an argument with another boy, as he was all flexing around that he was superior to most of us. I got angry, and said that it’s not only him having money. My parents gave me some as well. Immediately, he put a 20k to the table and said that he was given 20k per week…
I was triggered and jealous… and the stealing started…
In around Grade 7 to Grade 8, students in my class got a really large allowance from their families. Mine stayed the same. So I started stealing from my mom, dad and grandparents.
The fear couldn’t stop me. I knew that they knew, but I couldn’t stop myself…
The thefts went on and on even in the time I studied abroad. I stole from my roommates, got caught; from my friends, got caught as well… They were surprisingly nice, they just told me to stop, and told me that if I needed money, I could just ask them…
Part of the reason that I stole was that I was FOMO, triggered because of the shops and advertising, I was scared of being abandoned because I was not given as much as I thought I should have. I knew my parents were struggling with me. They hit me lots and yelled that my actions were very bad, and I needed to grow up.
This ‘hobby’ stopped when I realized that stealing made people distance themselves from me, they watched me closely as the trust they had in me dropped nonstop.
5 Essential tips for teaching kids about money
Being a mom of a 1 year-old, I promise myself that I will talk to my boy, let him know that he is loved; tell him all about the shopping mechanism and what he would lose if he crosses that line…
Teaching kids about money isn’t just about saving, it’s about building a healthy relationship with value, avoiding peer-driven money shame, and preventing bad money habits.
Focus on “Why,” Not just the cash balance
Avoid telling kids “we can’t afford that” or making them feel guilty about family finances. Instead, explain choices: “We choose to spend our money on X instead of Y right now.” This removes shame while teaching priority management.
The Three-Jar system
Establish a Three-Jar System (Save, Spend, Share). When kids receive their allowance or gift money, help them split it immediately:
- 50% Spend: Daily spend, including snacks, small toys.
- 40% Save: Short- or long-term goals (a bigger toy, outings).
- 10% Share: Donating or buying gifts for friends or family to cultivate generosity.
Explain buying traps
Teach kids how stores and ads try to trick them. Explain that bright boxes and special sales are made to trick people into buying things on impulse.
Let the kids make mistakes
If they spend their money on a cheap toy that breaks right away, do not replace it. Learning from small money mistakes now prevents bigger, costly mistakes when they grow up.
Explain when they start to compare themselves with other kids
Every family manages money differently. Explain that to them, remind your child that their value and friendships do not depend on how much money they have or what brands they’re wearing.
Budgeting for kids – How much to give a kid weekly
| Age Group | Recommended Weekly Allowance | Key Learning Focus |
| Ages 5–7 (Early Elementary) | $5 – $7 (~50k to 100k VND) | Physical money recognition, counting, saving in a clear jar for 1 to 2 weeks. |
| Ages 8–11 (Late Elementary) | $8 – $11 (~100k – 200k VND) | Managing small impulse buys, delayed gratification for medium-term goals, understanding peer pressure. |
| Ages 12–14 (Middle School) | $12 – $20 (~200k – 350k VND) | Budgeting for personal social outings, snacks, and basic hobbies; introduction to digital money/apps. |
| Ages 15–18 (High School) | $20 – $50+ (~350k – 500k+ VND) | Cover discretionary costs (clothing choices, entertainment); linking allowance to budget management or household responsibilities. |
Letting your kid have a part time job
When is the right time for your child to get a job? It comes down to their school workload, how mature they are, and also the local labor laws.
Usually, 16 years old is the sweet starting spot. Of course, you should get them ready before reaching this age:
- Ages 11 to 13: Start simple, for example: pet sitting, helping neighbors, doing extra housework for extra cash.
- Ages 14 to 15 (First official job): This is usually the legal age for simple part-time work, like working in a cafe or shop. Working hours are limited at this age.
- Keep hours low: You should only let them work under 10 to 15 hours a week during the school year. School, sleep, and rest must come first.
- Signs they are ready: If your teen can manage their homework without you nagging them, wake up on time on their own, and solve small problems by themselves, they are ready.
