Children should not be given pocket money

pros and cons of pocket money

Others insist that there are undoubtedly some disadvantages in spending pocket money. Some people think that giving children pocket money will make them become luxurious.

value of pocket money

If your child excels in academics or sports, they could get higher pocket money increments! The last reason why I believe children should have pocket money is that they will earn it by working around the house which is helpful for parents who need help with chores.

Speech on pocket money

Children are not expected to know the value of money so they are never expected to make a wise decision regarding money. Giving pocket money teaches teenagers to manage money while they are still young and parents can still guide them. They learn to understand the value of money. You might choose to pay weekly, fortnightly or monthly. Such conditions will make children become more and more prodigal. For example when you first give the amount to your daughter, you need to explain that this money is to cover her school special lunch; candies or soft drinks requirements for a week. First, young children do not know how to use pocket money appropriately, they possibly consume all the money to buy expensive merchandise that they like, and then ask for extra money from their parents. But along with intense competition, parents have less time to consider children needs in all-round.

Pocket money can also help children learn about the consequences of losing money. Also, it help teenagers to make choices and to see that sometimes people have to wait and save up some money to get what they really want.

Pocket money uses and misuses

This depends on your circumstances and what you think is reasonable. This helps teach them the value of saving. Children are not expected to know the value of money so they are never expected to make a wise decision regarding money. Losing money is not a big deal, but in some cases they might be put into a harmful situation by risking their lives because of a little money. By judging these two viewpoints above that I mentioned, I think that parents should give their children a limited amount of pocket money and there must always exist some preconditions such as the amount of pocket money must be finite; parents should instruct their children how to use the money moderately and what is suitable to them; for a costly merchandise, parents themselves should take children to buy it. Pay it on a set day. But along with intense competition, parents have less time to consider children needs in all-round. A child may not be cautious in spending money, he or she can easily spend on frivolous unnecessary items. It might help to write a list. How much is the best as the pocket money? Giving more pocket money than friends will make your child spend more and consider money as frivolous and easily available.

For example when you first give the amount to your daughter, you need to explain that this money is to cover her school special lunch; candies or soft drinks requirements for a week. Parents can utilize this time for other important tasks.

This depends on your circumstances and what you think is reasonable. I guess that The children should be given a pocket money I guess only for some emergency situations, such as being late for school or losing their way, so they could catch a bus or taxi.

In summary, giving money is not a good way to show your care for your children.

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Why Giving Your Kids Pocket Money Too Young Is A Bad Idea