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In many countries it is common for parents to give their children pocket money. What are the advantages and disadvantages of this practice?

#countries #parents #children #pocket #money #practice
Providing children with an allowance has become a standard practice in recent years.
Although
 some cash can lead to certain drawbacks like children feel that they have
f
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the
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reedom to purchase anything from it, others use it wisely to save and learn management skills.
This
 essay will highlight both of these aspects with not only greater details but
also
 provide examples.
To begin
 with, the major disadvantage is that pocket money can sometimes put a negative impact on children because of freedom. Some parents feel guilty of the fact that the kids get neglected and they try to win them over by giving them a huge amount.
Such
 kids use
this
 extra caring effort to their disadvantage due to their parent's negligence.
For example
, Most of the millennials get involved in drugs and they tend to purchase drugs through their income which eventually becomes a bad habit.
Hence
, it is necessary to have a strict at home when it comes to allowing cash.
On the contrary
, the majority of youngsters are taught to save money from their childhood.
This
 encourages both parents and children to boost their saving techniques effectively. Due to a lot of engagement between the two, children are likely motivated towards mastering the skills of management.
For instance
, a lot of youngsters have been investing into share market at an early age due to hard-earned cash they have profited from their small businesses or through part-time jobs.
Therefore
, it is vital for parents to guide their children correctly of what is required in return when they share a bit of their income. To conclude,
this
 has become a common practice nowadays, there is always a negative and positive aspects to
this
. But,how to do perform
this
 task correctly is the responsibility of the parents.
Therefore
, extra allowance is not a bad thing but doing it in the right way will have better outcomes.
Submitted by jazkaur96 on

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