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

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Providing children with an allowance has become a standard practice in recent years.
Although
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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
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essay will highlight both of these aspects with not only greater details but
also
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provide examples.
To begin
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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
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kids use
this
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extra caring effort to their disadvantage due to their parent's negligence.
For example
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, Most of the millennials get involved in drugs and they tend to purchase drugs through their income which eventually becomes a bad habit.
Hence
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, it is necessary to have a strict at home when it comes to allowing cash.
On the contrary
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, the majority of youngsters are taught to save money from their childhood.
This
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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
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, 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
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, 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
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has become a common practice nowadays, there is always a negative and positive aspects to
this
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. But,how to do perform
this
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task correctly is the responsibility of the parents.
Therefore
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, extra allowance is not a bad thing but doing it in the right way will have better outcomes.
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