Pocket Money for Kids- The Advantages and Disadvantages

Pocket Money for Kids- The Advantages and Disadvantages

Spread the love

Are you intending to start giving money to your kids? Well before actually going for it, read the article and think twice. Learn about the drawbacks and benefits of giving pocket money to little ones.

With economy of capitalization people are acquiring more and more wealth. Children spend money lavishly and without giving a second thought.

Nowadays it has become a practice or tradition to give too much pocket money to young children. It is a harmful practice as it inculcates extravagance in children.

Lets us understand the advantages and disadvantages of giving too much pocket money to kids:

Related : 7 Ways To Save Money Efficiently

Advantages of Giving Pocket Money:

1.Kids realize the value of money as they feel responsible to pay back for their purchases. They become sufficiently responsible in matters of money.

2.They learn to manage their budget in their after-life.

3.It helps children in making important decisions pertaining to money and expenditure. It provides them a useful sense of purposes and achievement.

4.The parents save their time in buying small things for their kids as the children can do it on their own. Parents can spend this quality time, thus saved in a better way with their children.

Pocket Money for Kids- The Advantages and Disadvantages
Pocket Money for Kids


Disadvantages of Pocket Money:

1.The most important drawback associated with pocket money is that it makes them callous with money. They are not careful while spending money on frivolous things.

2.They do not realize the worth and value of money and are likely to take hasty and wrong decisions regarding finances.

3. With no supervision, a child might get into trouble in matters of money.

4. The child might be bullied by others if he/she carries too much money as pocket money. So abstain yourself from endangering your child’s life from any kind of mishap.

Make sure to keep these important points in mind before giving money to your kids. Remember money simply cannot express your love or affection towards your kids. Before giving them money, teach them to spend it smartly and wisely!

Have a news story, an interesting write-up or simply a suggestion? Write to us at
info@oneworldnews.in

Comments

comments

12 thoughts on “Pocket Money for Kids- The Advantages and Disadvantages

  1. Normally I don’t learn post on blogs, but I would like to say that this write-up very compelled
    me to check out and do it! Your writing taste has been amazed me.
    Thanks, quite great post.

Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.