Some people say that giving a small amount of money weekly to children will help them become more capable as they grow older. Do you agree or disagree

Money
is a prerequisite for surviving in today’s world.
Therefore
, to instil its value to juvenile, one school of thought avers that, parents should bestow weekly
pocket
money
since, it would help them to use it judiciously. I concur with the statement and, explain my arguments in the following paragraphs with examples. At the outset, weekly
pocket
money
moulds the thinking of children regarding its utilization. They would spend it wisely because, they are well aware with the fact that they do not get any extra amount for the
next
seven days.
For example
, a survey by leading newspaper had revealed that, more than 80% of children who get small amount once a week would spend it on essential things and, care
their
people in general
they
brought possessions as much as possible since, if anything would be broken, they have to buy it again from their
pocket
money
.
Furthermore
, while managing
pocket
money
children would
also
comprehend its indispensable role in once life. Thereby, they would commence saving
money
for their future. In
this
way, they will learn financial management skills which are the need of the day. To illustrate, a study of ‘Financial School of World’ had revealed that, people who had learned the strategy of financial management in their childhood can not only comfortably handle the financial crises but
also
resolve it promptly without borrowing
money
from friends. To conclude,
although
, weekly allowance has numerous privileges, still parent must keep surveillance on the expenditures of their children. So that, they would not spend it on unnecessary things.
Submitted by bipan.dhariwal on

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Topic Vocabulary:
  • financial responsibility
  • independence
  • financial literacy
  • work ethic
  • effort and reward
  • impulsive purchases
  • budgeting skills
  • critical thinking
  • sense of entitlement
  • modest amounts
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