Some people say that children given pocket money every week will have fewer money problems when they become adults. Do you agree or disagree?
According to Forbes magazine statistics from 2019, approximately 40% of adults in developed countries at least once in their life have experienced problems directly connected to their finance. It is believed by some individuals that kids who are given cash may experience fewer money problems when they get older. I totally agree with this statement, because the earlier a child can have a responsibility and confidence with spending, the easier it will be for him in adulthood. Firstly, it is believed that responsible people tend to be more successful than unresponsible ones. People who achieved great results in their career and family issues have good orderliness almost in everything, especially in financial issues. Thus, in order to be organized in adulthood, successful individuals must be responsible for managing their spending. Secondly, it is known that the more a person can have confidence in his decisions throughout his life, the easier it will be for him to reach his set goals. Thus, in general, successful people, like Bill Gates, Warren Buffet and others, have conviction, when it comes to decisive moments of investing their savings into different financial instruments. Hence, that sureness was obtained from the early stages of their life when they had an opportunity to be in control of their spendings. In conclusion, as we can see from the arguments above, responsibility and confidence in spending are gained in childhood. As a result, the earlier a child can have the pocket cash, the easier it would be for him in his adulthood. That is why it is better to give children pin money as soon as possible.