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Pocket Money, Should Parents develop this habit at the tender age?


What is considered as the proper age for a child to take decisions by her/his own? Is it one of the major concerns of every parent? Everybody is motivated to money right from small kids to an old aged man. When it comes to giving pocket money parents always give a second thought whether their child is mature enough to act wisely and spend it. Every parent will want to teach their children to save and not to spend unnecessarily. This ambiguity or irrefutability of whether a child is capable or not to decide will prevent most of the parents in providing pocket money to their kids.

Teenage is the precise age when every kid will want to explore the world around them on their own. Their urge to being independent and discover will start reaching its peak level. Henceforth, whether to provide kids with their requirements is one of the debatable topics of modern parenting world. Pocket money is also one of the needs of most of the teenagers. Receiving pocket money has its own advantages and disadvantages. Mainly speaking every child has her/his right to dig in through their interests and it is advisable if parents are supportive. Learning also happens outside school or home. Every new activity is considered as a stepping stone to learning. Managing money will improve performance and its importance will be learnt with time. Children will have to be taught how not to waste money rather than where to spend it. Yet, parents have to be little careful in knowing their kid‘s whereabouts before lending money to them.

With respect to the above mentioned facts providing children with pocket money can also spoil them. This independence can be misused if a child starts to use money given without the knowledge of a parent. Nowadays, with both parents working it has become tedious to monitor the kids and their behavior. With this modern family system the joy of having lunch or dinner together has been lost. Hence, one family member is unaware of what others are up to. Emotional bonding has been lost among each other in life. Most of the parents provide pocket money to their kids in order to reduce their tension in buying basic needs like games or foods to their children. Initially it will remain to junk or games. But with time, kids might get distracted to different unwanted activities which the parents might not notice due to unavailability of time. Parents consider their job is done if a kid gets what it asks for. Emotional needs have started to be valued with money in this modern era. Money cannot buy us everything in life. It can just buy momentary happiness but can result in hazardous effects in the due course of time which the parents are unaware of. Instead it is advisable for a parent to spend some quality time with their kids and try understanding them before blindly giving them money. With this monotonous way of leading life everybody is trying to or has tried to reach serene full life by earning more money in life. This has led to providing kids with money when asked for without making an effort to understand what a kid is lacking in life.

Hence, I genuinely feel that it would be a better option if parents can decide on providing pocket money to their kid only if need be. That is, only if there happens to some emergency like a kid needs money to make telephone calls or for sometimes for food. Periodic habit of receiving money will lead them to wasting it rather than using it. Every parent has to be with them emotionally during their tender age especially instead of being with them through money. Problems related to children have their own ways of being solved if some parental thoughts are put into it. Therefore, parents should not consider giving money to their kids as a solution to any problem.

Sneha Bhat