Providing children with pocket money on a weekly basis can benefit them in the future. Do you agree or disagree?
Although sometimes a contested issue, it is argued that providing children with a modest amount of pocket money on a weekly basis is helpful to their development. This will be proven by showing how this practice helps children garner both basic financial skills and a sense of responsibility.
Firstly, giving children a small amount of money every week helps their early understanding of financial matters. For example, my friend’s eight-year-old son has been given one Canadian dollar every week for the past year. When the practice was first commenced, this boy would often spend his money frivolously on items of little value. However, as time went on, he came to understand that if he postponed the spending of his dollar his overall wealth accumulated and this allowed him to buy items of greater value. As this example shows, providing children with pocket money every week leads them to have constructive experiences regarding financial issues.
Secondly, parents who issue their children a minute weekly allowance encourage the development of their child’s sense of responsibility. For instance, in my own childhood, I was given very small amounts of money every week and allowed to spend it freely. I feel having control over the use of these funds was one of the first major steps I took in my life towards learning how to become a responsible person. As my personal story shows, providing children with pocket money is a positive thing.
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After analyzing how giving children a little cash on a weekly basis develops their financial comprehension and level of responsibility, it has been proven that this practice is more positive than negative. Thus, parents are encouraged to consider