Some people think that it is a good idea to give children a small amount of money each week to spend on what they would like. Other people think that this is wrong and that it is a waste of money. Discuss both views and give your own opinion.

The pocket

money

for children has always been a topic of argument between parents, all over the world. Some support

this

idea by saying it teaches financial aspects, and others find it wastage of

money

. My thoughts are with the

first

part of the above said statement.

Furthermore

,

this

essay will discuss both aspects of the topic. On one hand, parents want their children to learn financial independence at an early stage of their life. Eventually, they start giving them some

money

which could be spent on anything of their liking.

For instance

, parent allotting a weekly budget to their children

want

Suggestion

wants

them to spend it or save it as per their requirements.

Thus

, the children do not need to always ask

money

from their parents and make them self-dependent because of the

money

, they own now.

On the other hand

, since, a child do not have very mature mind and can start wasting

money

on some bad habits,

such

as eating junk food or smoking.

Thus

, the easy access to

money

can turn into their downfall. One very popular example is, the rich people's children, who fall prey to bad habits just because of the handful of

money

they have in their pockets. In my view, parents should provide a chunk of

money

after analysing their needs, and they need to monitor it properly to keep them away from bad companies.

Moreover

, it is to teach them a monetary value of different products in their life. In conclusion, a coin has two different sides,

similarly

,

this

model of allowing children weekly budget has its own pros, like learning about the finances, and cons as wastage of

money

.

However

, the monitored approach makes it very successful in the long term.