It is ordinary for guardians to provide allowance to the youth in today’s society. I suppose that there are both pros and cons in this consequence.
To begin with, allowing teenagers to manage their own money would be a valuable lesson for them, in term of financial management, at an early age. This could be a vital start for children, becoming more responsible to adjust their money at different circumstances. Consequently, not only young-adults will learn how to spend their funds throughout the day but they can also adapt this money management skill in the future as well. To illustrate, teenagers will allocate their salary more wisely from the prior saving habit in the past experience. They can limit their spending on consumption, transportation, and personal expenses efficiently. It is clear that encouraging kids to manage their own money can be beneficial for them in the future.
On the contrary, it is undeniable that some adolescents might not be responsible enough to sustain their limited allowance from parents. Most children still have not acknowledge about the importance of money that much, leading them to purchase unnecessary or frivolous goods, which they may ended up spending all of their savings over something that is not worth it. For instance, youngsters with insufficient knowledge of money allocation would likely to spend their money on toys or extravagant products which cost them for a fortune. It can be seen that having parents supervise or monitor their children’s financial activity would prevent them to encounter with cashing on unnecessitate goods that is unimportant for the youth.
To sum up, Facilitating budget to children can uplift their discipline on money usage, especially in the future. However, parents are ought to giving advise to their kids about money management closely as well.