Opinions are divided on whether giving children pocket money on a weekly basis can help them become more capable in the future. Although this practice may have some potential downsides, I believe we still need to allow children to have their allowance because this will help them improve their budgeting and saving skills.
Admittedly, providing children with a limited amount of money every week may have several negative effects. Financially supported children usually do not have a deep understanding of the value of money. This is because if they do not spend their time and effort working diligently, they may not know how hard it is to earn money. Such students may become overly reliant on their parents since they are used to receiving money frequently. Furthermore, young children may lack the maturity to make wise spending decisions. Influenced by peer pressure or advertising, they could be tempted to purchase trendy but unnecessary items, such as items promoted by celebrities, rather than prioritizing their needs.
However, I would argue that the benefits of giving a small amount of money weekly to children outweigh the disadvantages. First and foremost, this could be seen as an effective way for children to learn budgeting skills. With a fixed amount to spend, children will need to figure out a reasonable way to allocate the given allowance to specific activities from hanging out with friends to buying necessary school supplies. A limited allowance can also instill the habit of saving. As children are not able to buy everything they want immediately, they will need to accumulate money, which surely helps them become an efficient spender in the future.
In conclusion, while letting children receive pocket money weekly can be deemed disadvantageous to some extent, I believe that parents should continue to do so since this practice can help students acquire many crucial skills such as financial management.