Pocket Money : Pocket Money In the present society, the general standards of living of people have increased. This has also given the rise in trend and the need of giving pocket money to children. Pocket money is the amount of money that the parents give to their children for spending that amount as per their need and wish. The liberty to spend that amount and make a decision on how and what it should be spent is given entirely to the children.
Pocket Money Short an Essay Paragraph
The quantity of pocket money each youngster receives is determined on their socioeconomic status. It is up to the parents to determine the amount of money they want to provide their children and when they should begin this practise. Children can benefit from pocket money in a variety of ways. However, before giving money to youngsters, it is important to assess whether they are capable of making proper use of it.
When it comes to pocket money, there are two points of view. Some individuals believe that by providing children pocket money, they will become opulent. Others believe that allowing kids to spend money will instil in them a sense of financial responsibility and budgeting. As a result, pocket money has both positive and negative aspects.
Pocket money is given to children for their personal use, mostly for buying stationery, toys, snacks, etc. Through receiving a fixed amount of Pocket money, children understand the value of money and learn to budget their expenditure.
Essay Paragraph Pocket Money
This also develops self control and a sense of how much effort is to be done to earn money. This encourages a habit of saving money. Many children efficiently make use of the Pocket money. It will give children a certain freedom to select what they want, make them aware of the rules of the equivalent exchange.
They will also learn to make their decisions on their own. 1 Though the advantages of pocket money are many, parents should encourage the habit of using Pocket money wisely. It is the responsibility of the parents to guide the children initially on spending their pocket money.
A part of the pocket money should always be used for a noble cause like donation or helping others. This will further inspire the children to give back to society. Some children also help their needy classmates out of their Pocket money. Thus, it is good to have Pocket money if it is used appropriately.
On the other hand, there are disadvantages also of Pocket money. Young children do not know how to use pocket money appropriately. They possibly spend all the money to buy expensive merchandise that they like, and then run short of money.
Pocket Money :The children also assume that Pocket money is given to them to support their unreasonable demands and provide them a luxurious life. Such conditions will make children become more and more prodigal. They tend to become reckless and extravagant.
Since adults do not supervise the procedure of shopping, children could probably buy something that is not suitable for their age, such as adult magazines. Children wrongly assume that pocket money is their right and do not understand the value of money.
As they easily get the money, they do not understand the effort required to earn the money. With the power of money, children get involved in unhealthy practices which are morally and socially unacceptable like drugs, crimes, etc.
Judging these two viewpoints above mentioned, it is the responsibility of parents that they should give their children a limited amount of pocket money. There are some preconditions, which the children and parents need to follow.
These can include things like: the quantity of pocket money must be limited; parents should teach their children how to manage their money and what is appropriate for them; and parents should accompany their children to purchase expensive items.
Pocket money will not hurt their children if these conditions are met. As a result, deciding whether or not to give pocket money is a delicate subject. By using the power of pocket money, parents and children must decide together on the alternative that leads to healthy thinking and healthy actions.