Giving pocket money is very common in many countries. Discuss the advantages and disadvantages about the practice and your opinion on it.

Allowances given to children are quite customary in the majority of countries. While

such

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trend incorporates confidence, responsibility and financial literacy in youngsters, it can

also

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lead to misuse of the

money

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. In my opinion,

pocket

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money

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is a beneficial practice when the given amount

is in moderation and parents oversee

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oversees in moderation and parents

is in moderation and parents oversee

the spending. One evident benefit of

pocket

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money

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is that children would learn to manage

money

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wisely. The earlier they become financially literate and learn to handle

money

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, the more financially stable they will be in the future. By getting their own

allowance

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, youngsters grasp the concept of how

money

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is earned and learn

basics

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the basics

to

prioritizing

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prioritize

.

That is

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,

for example

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,

to whether spend

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whether to spend

all their

allowance

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on an expensive toy, or save it in their piggy bank for something more worthwhile,

such

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as a

cellphone

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cell phone

. Another point to consider is that

pocket

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money

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boosts children’s confidence. It gives them a feeling of independence, as they will be able to tackle part of their financial matters by themselves. As

such

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, they will grow into adults with an increased self-esteem compared to their counterparts.

On the other hand

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, children can abuse and misuse their

allowance

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. The financial freedom can result in youngsters, particularly teenagers, using their

money

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on tobacco, drugs, or alcohol. Being immature and impressionable they can easily take advantage of the situation, which can ultimately be detrimental to them.

Moreover

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, having an excess of

pocket

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money

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can encourage them to indulge in unnecessary activities. If

money

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would not be an issue, they could spend most of their time in recreational activities that could negatively impact their academics in the long run.

Finally

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, I believe

pocket

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money

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is an essentiality for every child.

However

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, the

allowance

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ought to be not only given in moderation, but

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also be

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also is

is also being

supervised by parents on how and where was the expenditure was made. In conclusion, even though there are

few drawbacks

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a few drawbacks

of giving children

pocket

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money

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, the benefits of

earned

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earning

responsibility and higher self-esteem far outweigh those disadvantages.