I definitely agree that providing children with a little amount of pocket money on a weekly basis is helpful for their development. In the following paragraphs, I shall put forth my arguments to support my views.
Firstly, giving children a small amount of money instills in them a sense of independence. When children are given the independence to buy things themselves they begin to see the value in the things they already have and other household items more clearly. They may start to treat the DVD player or PlayStation with a lot more respect. Giving pocket money to their children also saves a lot of time for grownups to buy small things for their children. They can utilize this time for other important tasks.
Secondly, parents who issue their children a minute weekly allowance encourage the development of the child’s sense of responsibility. It makes them feel an important part of the family since they know that they get a part of the family’s monthly income. Furthermore, a weekly allowance can work out much cheaper in the long run provided parents do not top it up with more money if their child runs out of money. Parents who do not give pocket money but buy children whatever they need would be surprised if they just total the amount they spend on their children’s desires every week.
Finally, children learn about saving and budgeting. For example, if they want to buy a present for their mother’s birthday, they will need to put aside some amount of money every month to collect the commensurate amount and buy the gift. They learn and understand that the amount of money is limited and they need to always choose between their various desires to ensure correct use of their pocket money.
To sum up, giving children a little cash on a weekly basis develops their financial comprehension and level of responsibility. Thus, parents are encouraged to consider adopting this regime.