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I started getting pocket money at about 8 years old. Even at that age, the deal was clear; apart from birthdays and Christmas, that was all that was available for toys and sweets. If I wanted a toy that cost more than a week's worth of pocket money, I had to save up until I could afford it. The only real exception was bicycle repairs.
But then I'm that old that we didn't have technology in the way today's kids do. No mobile phones, computers, Playstations or anything like that. Space Invaders was only invented when I was about 15.... yeah, I'm that old 😁
I didn't get any pocket money till I was in high school. Lol
Yes I understand that old you mean lol
Still I think it a way to teach kids how to manage money