Giving children and adolescents pocket money is common throughout the world. Do the advantages of this practice outweigh the disadvantages?

In many countries, parents often provide their

children

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with an

allowance

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.

Although

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the custom can be problematic in some cases, I believe that these issues are negligible compared to the potential benefits of financial maturity. Concerning the challenges, one of the most worrying aspects of giving

money

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to

children

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is that it can engender a sense of entitlement.

In other words

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,

this

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practice might cause them to believe that they have a right to deserve pocket

money

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without any effort.

As a result

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, a child who is used to receiving financial awards on an unqualified basis will have a higher tendency of growing up as an irresponsible and spoilt as an adolescent.

Furthermore

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, the provision of a consistent

allowance

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can enable

children

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to squander on unnecessities. It is not uncommon to see these youngsters spend most of their time in-game clubs or even become involved in drugs due to having extra

money

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. These in turn will have an adverse effect on their future.

However

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, the above drawbacks are outweighed by the benefits of

this

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practice so long as appropriate conditions are put in place.

Firstly

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, requiring

children

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to work for an

allowance

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through,

for instance

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, assigning home chores should encourage them to appreciate the value of

money

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.

This

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way of upbringing leads them to make better use of their acquired

money

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on more reasonable matters.

Secondly

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,

children

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who are financially rewarded for their efforts could develop new skills related to

money

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management. If,

in contrast

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, a teenager is never given pocket

money

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, their ability to manage finances in adulthood might be compromised due to inexperience in

such

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cases. In conclusion, despite the entitlement and irresponsible usage of

money

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that an unconditional

allowance

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might bring about in young people, my view is that pocket

money

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with boundaries can promote economic responsibility, which will be of greater importance later in life.