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

with an

allowance

.

Although

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

to

children

is that it can engender a sense of entitlement.

In other words

,

this

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

money

without any effort.

As a result

, 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

, the provision of a consistent

allowance

can enable

children

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

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

However

, the above drawbacks are outweighed by the benefits of

this

practice so long as appropriate conditions are put in place.

Firstly

, requiring

children

to work for an

allowance

through,

for instance

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

money

.

This

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

money

on more reasonable matters.

Secondly

,

children

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

money

management. If,

in contrast

, a teenager is never given pocket

money

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

such

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

money

that an unconditional

allowance

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

money

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