Pocket money for kids- the advantages and disadvantages pocket money for kids- the advantages and disadvantages april 30, 2012 april 30, 2012 are you intending to start giving money to your kids . That will make the child feel that 'parents money is not his/her money','it could lead to fights between children','unhealthy competition amongst children on the amount of pocket money they get . With the development of our modern society, people’s living conditions become much more comfortable but along with intense competition, parents have less time to consider children’s needs in all-round. Really, it’s pocket money on demand and subject to the discretion of the parent this is the only method that allows the parent to control how, when and on what money is spent this is the only method that allows the parent to control how, when and on what money is spent.
The major advantage is the increased amount of money stashed away for an emergency, major purchase, retirement or simply peace of mind also, saving pocket money is easy - you empty the money from . Paper money is the most convenient form of money a large amount can be carried conveniently in the pocket without anybody knowing it it is very risky to carry on one’s person rs 5,000 in cash, but not in notes. Disadvantages of pocket money given to children competition, parents have less time to consider children needs in all-round one method to solve this contradiction is to give children some pocket money.
Mandell cited a study done in australia in 1995 by warton & goodnow suggesting that teenagers saw household work as a means to earn pocket money rather than as a way to learn that everyone has to do his or her fair share as a member of the family, learn how to be helpful, and do what needs to be done. Disadvantages of giving pocket money to children pocket money itself is neither good nor bad however, how we use it makes it good or bad i strongly believe before giving pocket money to children, we must teach them the value of money along with the wisdom of using it wisely and judiciously. 5 disadvantages of giving pocket money to teenagers all mom and dads keep aside some pocket money for teenagers with the object of making them responsible and instilling saving habits in them but if parents shower excess love and become lenient with their children, it is when the children start being reckless with the money given to them.
“if you’ve got your own money on the line, when we think of small biz owners using personal funds, we tend to think of retirement accounts or savings nest . The investor might be able to get the conventional loan to cover refinancing the hard money loan, any closing costs and not have to use any out of pocket money, at all for instance, if we go by the figures mentioned above using the purchase price of $50,000, with another $20,000 estimated for repairs the appraisal could be about $100,000 or . 'unhealthy competition amongst children on the a mount of pocket money they get' 'loss of control on where children spend the money' 'loss of control on where children spend the money' advantages and disadvantages of black money. Disadvantages of pocket money unnecessary expenses the biggest disadvantage of pocket money is that it leads to unnecessary expenses because when kids have money they to purchase those things which they do not need resulting in wasteful expenditure and if they are not stopped in the beginning than they tend to carry that habit in their adulthood also which in turn leads to improper financial .
Pocket money will get them across the definition of money and let them learn how complicating earning money is with such sense, gradually will they form a habit of saving money and think twice before using it . Pocket money may help children become more independent however there are also some disadvantages : if children receive money on a regular basis, like for example if they get weekly allowances, they may get used to it and believe that it is an acquired right. Is pocket money leading him to some unhealthy habits pocket money: boon or bane for children according to me the disadvantages mentioned here are not . Parents should give pocket money to their children pocket money has always been a huge concern for both the parents as well as children children want money so that they could spend on their own for the things that they like and parents on the other hand do not want to give money as they are surrounded by their own inhibitions of what will the child do with that money.
An allowance may undermine the importance of contributing to the family your kids may get the perception that duties always deserve a reward instead of simply doing their share for the family paying kids for doing chores teaches them that working for money isn’t always fun. Advantages and disadvantages of pocket money to children with the development of our modern society, people's living conditions become much more comfortable but along with intense competition, parents have less time to consider children's needs in all-round. Students should prefer pocket money it is is a good way of understanding the value of money and to get the budgeting habit early they learn how to be independent and responsiblethe amount of money which they had earned by helping their parents will kept it more carefully with them .
Check out our top free essays on advantages and disadvantages of pocket money to help you write your own essay. Answer (1 of 1): - it may make the receiver of the pocket money eg children go spoilt and expect more money to be given- children can spend the pocket money on unnecessary, useless items- they may become so dependent on money so much that they leave school and get a job to get extra money- children can become greedy. Free essay on my pocket money for kids – pocket money is what parents give to their sons and daughters to spend a child can spend his pocket money as he or she likes.