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Whether or not children should be given pocket money is an issue that is often neglected and dismissed... But what people don't realise is that without pocket money children start to steal money. Kids should get pocket money because it is a way of teaching them the value of money and the cost of living. In giving your children pocket money it is believed to encourage independence and decision making. If kids didn't receive pocket money then they are at a disadvantage because they wouldn't know how to cope independently and will always rely on their parents.
We live in a society where money is a big issue, money is absolutely necessary for our survival in world. Our retirement, shelter, entertainment and life essentials all require money. In order to achieve these things you must have money, and know how to save money. By giving them pocket money it will help them to understand the concept of saving. Giving your child pocket money at an early age you can teach them how to save. Saving money at a young age will become a habit as they grow older. This will benefit them because they learn a valuable skill. This skill will benefit your child because if they start saving now they wouldn't have to start saving when their 0 with a wife and children. It would much harder for them to save then. Another example is for our Retirement, it requires money. In order to have money for our retirement, we need to save money. Saving money is a habit. Habits are easily built at a young age. When people make excuses to cover things when they are young, they end up doing it when they are older.
Pocket money can be used as doing house chores or black mail for good behaviour. Mums and Dads can use pocket money as making their children doing their weekly chores around the house. You can also use pocket money as another way of your children's behaviour. In some cases parents can say no pocket money for a week for bad behaviour or undone chores. You can encourage your children by doing their chores by rewarding them pocket money. If you gave your children pocket money every time they did their beds your children did their beds. If they didn't do their beds then they don't get to receive pocket money. Would that encourage them to do their bed everyday? If you didn't give your children pocket money one week would they then work out why and change?
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