Pocket Money: A Boon or a Bane?
Pocket money has become a common practice (habit) in many families today, with parents
providing their children a regular allowance. While there are clear advantages = (benefits) to
giving children pocket money, there are also potential downsides. = (disadvantages =
drawbacks)
On the one hand, pocket money allows children to have their own money to spend. This can
give them the opportunity to make decisions about what to buy and teaches them the value of
spending wisely. In addition to spending, pocket money is a great way to help children learn
about saving. Moreover, pocket money can also help children develop self-control and
understand the value of money. Thus, they will realize that money is finite and must be
managed wisely.
On the other side, there are also some drawbacks to giving children pocket money. For
instance, children may begin to expect payment for everything they do to help around the
house. Add to this, the financial commitment and parents may sometimes struggle to find this
money. Lastly, once children become accustomed to receiving pocket money, they might start
asking for more. This can lead to complaints and demands for more money, which can create
arguments with their parents.
In conclusion, pocket money can be a valuable tool for teaching children financial
responsibility, but it comes with its own challenges.
Pocket Money: A Boon or a Bane?
Pocket money has become a common practice (habit) in many families today, with parents
providing their children a regular allowance. While there are clear advantages = (benefits) to
giving children pocket money, there are also potential downsides. = (disadvantages =
drawbacks)
On the one hand, pocket money allows children to have their own money to spend. This can
give them the opportunity to make decisions about what to buy and teaches them the value of
spending wisely. In addition to spending, pocket money is a great way to help children learn
about saving. Moreover, pocket money can also help children develop self-control and
understand the value of money. Thus, they will realize that money is finite and must be
managed wisely.
On the other side, there are also some drawbacks to giving children pocket money. For
instance, children may begin to expect payment for everything they do to help around the
house. Add to this, the financial commitment and parents may sometimes struggle to find this
money. Lastly, once children become accustomed to receiving pocket money, they might start
asking for more. This can lead to complaints and demands for more money, which can create
arguments with their parents.
In conclusion, pocket money can be a valuable tool for teaching children financial
responsibility, but it comes with its own challenges.
