What is your opinion on children’s pocket money?,

@cashnono (1135)
Hong Kong
February 12, 2007 10:19pm CST
Nowadays, it is a commonplace that children own startle amount of pocket money. These new moneybags never earned one dollar but had glorious consumptive point of view. As far as I am concerned, we should decrease their pocket money. The reasons can be listed as following. First , money produce negative effect on children. As I can see, there are few children could make a correct decision on purchasing, especially as the sum of the money is affluent. They always use it in some harmful ways, such as trying to drink and smoke. It is danger both on their physical and mental aspects. Second, parents should change their way to express their love. In China, giving a little money to children is a traditional way to show the love of the adult. With the increasing amount of money that has be given , some children become a moneybags during one night. In this reason, changing the way to express our feeling is necessary. In order to reduce children’s money as well as the bad influence from money,…. At last but not least, schools and our society would offer the kids an opportunity to earn money by their labor. The proverb goes : no pay no gain. The junior moneybags cannot image the difficulties to earn money if they never try. From what has been discussed above, we come to the conclusion that we cannot ignore the gradually increasing pocket money of children. Because money would bring pernicious implication on children. What is your opinion on children’s pocket money?
12 people like this
34 responses
@jompach (97)
• Philippines
13 Feb 07
i think it is a good training for children in investing and saving money. they can use it provided they will have guidelines in buying something. parents must always be the guidance of their children in this kind of training the wrong training they give their children will educate their child in becoming bad at their money and maybe bad in business in the future. i think parents are the key to their child in being a successful money saving children.
4 people like this
@cashnono (1135)
• Hong Kong
13 Feb 07
Yap, I agreed. Parents should guide their kids even when they are in their small age!
1 person likes this
@hcromer (2712)
• United States
13 Feb 07
When I was younger I was given a pretty decent allowance which I spent mainly on clothing even though my mother bought clothing for me also. I kind of wish that instead of giving money directly to me when I was younger that she would have put it into a savings account for me to have when I was older and had a better concept of how to use it.
4 people like this
@asish1672 (338)
• United Arab Emirates
13 Feb 07
I, being a father of a 5 yr old kid has not faced it or started it yet. But I feel that, in this modern world, one cant ignore giving pocket money to our kids. I mean there are so many requirements, like paying bus fares, buying meals from the canteen etc. etc. Therefore in the beginning, it is wise to give pocket money to kids as much they might need for a particular reason and not pay them lots. it shuld be controlled as per the use of it. Also it is important to mention it while giving that for what purpose it is given for.This way the kid also keeps that in mind. Most important is to ask the kid at the end of the day that whether he has used it for that purpose or not? or may be even ask for an account of it. This might look a little too stringent, but this is the only way to teach the kids the value of money and that they shuld use it carefully.
@cashnono (1135)
• Hong Kong
13 Feb 07
For this issue, a parent can always speak louder. Thanks for sharing your idea here.
• Romania
13 Feb 07
My personal opinion about children's pocket moneys is that they should have a small amount of money so that they can get used to having money and having the responsibility to spend them in a right an harmless way for them or their friends !But remember a small amount off money ! I agree with you that giving our children huge amounts of cash can be harm full to them , because at such small ages they don't have a common sense about danged and they can be easy targets for thief's ! Have a nice day !
@cashnono (1135)
• Hong Kong
13 Feb 07
Yeah, children shoul have some money, and parents should also teach the children to take care of money and spend money wisely from their childhood.
• Philippines
14 Feb 07
I am a mother of 3 cute children, and my eldest is 10y/o. Giving pocket money to your kids depends on your kids maturity. As for me, my eldest daughter is matured enough for me to give her pocket money. She knows how to spend it wisely. And she always tells me what she bought or where she spends her money. She had seen how hard it is to earn money and she is so thankful to both of us (her mommy and daddy) that she always kiss us and say thank you every time we give her allowance. I'm so greatful that she value our hardships. We always tell our kids how we earn the money we are spending and always remind them that we should be thankful that we have enough blessings, while other people are begging for food or money just to survive for a day. We should also be their model. Most of our children sees their parents as their idol. If we want our children to value money and spend it wisely, then, they should see us doing it also. We can only teach our children the true values in life if we parents are the one who practice it. So giving pocket money to children depends on how matured enough your children are.
13 Feb 07
I agree that children should learn the value of money and the responsibility of managing money from as young an age as possible. I just think it is important that they earn it. This will protect them from the idea that money just appears, when in reality it doesn't.
@Celanith (2334)
• United States
13 Feb 07
We never gave our children an allowance nor our grandchildren. We do have a bank we put loose change in for each of our grandkids, My kids do not give allowances either. Not even when they were teens. If my kids and now grandkids want money they have to earn it. First doing chores and doing them correctly. When my kids became teens they got jobs and they set up a budget. We charged them a small amount of rent which we put in a savings for them for later. The idea was to teach them the value of money and that everything costs money. They had a certain amount of their checks they had for spending money. The rest they had to save, buy school clothes with, and auto upkeep and insurance and school supplies. We did not charge them for food though or utilities. But they got a good grasp of budgeting, saving and proper spending. We are teaching our grandkids the same principles. They get money for special things, and occassions, they earn it with chores being done properly. They learn need from want. I do not believe children should just be given money because they demand or want it. Giving money is not love. It is buying the kids and kids try blackmail tactics for it. Won't work with me as my kids and now grandkids learned. They need money for school dance, sports etc then do the job right, earn it get paid, do it wrong get a deduction maybe even forfeit the event.
• United States
13 Feb 07
When I was younger I was given a very scarce allowance... I'm talking like 50 cents to a dollar. I never really spent it on anything b/c I couldn't afford anything aside from ice cream. The majority of the time I had no money tho... I don't know why I just didn't have it. My dad was the one who taught me the real value of a dollar by not allowing me to get anything (and by anything I mean toys I wanted) unless I could pay for it myself... Which really sucked when I wanted a stuffed dog for 14.00 and I only had 2.00. I really don't see a problem with kids getting money as long as it's regulated for their age... like the older I got the more money I got. And by that time I had learned how to spend what I had and I had also learned to save very well (when you only got .50 as an allowance you HAD to save! lol). So I believe it's fine as long as parents aren't dishing out money to their kids everyday and actually pay them for chores and regulate what's given to them.
2 people like this
@brihanna (381)
• United States
13 Feb 07
I am not so sure I agree with all the points you have mentioned. Money does NOT produce a negative effect on children. Poor guidence about how to spend thier money produces poor decisions made by these children. They do not ALWAYS use it to purchase drink or smoke-my daughter has purchased her own computer, her own pets, and her own car. Second-yes, expressing love through money is not always benificail, however, money prompts children to act, to get good grades, or clean thier room, or help around the house. So, in that aspect, giving children money is good. I also think that there is very little a kid can do without money. They need money more now, than when we were younger. Everything cost money. Even the water, the sports they play, the clubs they belong to. I think kids should have money in their pocket. They will be adults all too soon, and then they will imagine how difficult it is to make money-why not have them enjoy the good life for as long as possible?
@denden (803)
• Philippines
13 Feb 07
i agree with you that children's pocket money can be harmful to the children now bacause as what i observed many children engage in addiction or smoking at an early age because of too much of money and lack of parental guidance. at an early age or during childhood you dont need lots of money because at that stage children's concern is on playing, studying so you dont need to give lots of money.
2 people like this
@nfhs79 (861)
• Malaysia
13 Feb 07
I think it depend on parent. Whether to give little bit or more. Like my dad gave us pocket money for a week than manage it myself. I didn't spend it too much. I save and can buy anything I want. I'd really want my child to be like me. I always bring bread or food from home. If my mom cook, afternoon I will eat at home. I avoid going to the school canteen. It always something I want to buy. I'd rather spend my money to buy books or stationery. :)
2 people like this
@sripriya (450)
• United States
14 Feb 07
As far as Iam concerned children's pocket money should neither be too more or too less.We can teach children to save and spend efffectively by giving children pocket money.We can by this way teach the value of money.As you said money can be given as a token of appreciation and love to children.Even in India money is given when elders bless the younger.
1 person likes this
@chileman (969)
• Australia
14 Feb 07
Our boys get pocket money for their chores each week, $5 goes into their hand and $5 goes into a bank account they can't touch until they are 18 years old. We do try to encourage them to save and budget so they are prepared in the future!
@cripfemme (7715)
• United States
14 Feb 07
I think children can earn pocket money, by useful service. I also think we can use the pocket money to teach them things like useful economic lessons. How much it takes to buy a pair of jeans or so on.
@XxAngelxX (2832)
• Canada
14 Feb 07
I think children having pocket money teaches them how to manage their money. I have certain chores set up for my children. If they do them, they get paid. Now they don't get paid a lot, not by a long shot, it's only $2 a week, but I'm hoping by making it a small amount (and I really can't afford any more than this) that it will teach them if they want something, they have to save their money until they have enough to buy it. I am trying to teach them to be responsible and at the same time that they have to work for what they want.
1 person likes this
• United States
14 Feb 07
I do think children do need an alowance however i also feel it should be earned by them doing chores such as taking out trash doing dishes or other tasks around the homeIn this way they learn that money while valuable need work to get it!
1 person likes this
@sharon613 (2323)
• United States
13 Feb 07
All I know is I had given my 18 year old a $38 dollar bus pass and she went and lost it the very same day.
1 person likes this
• India
13 Feb 07
I think children should be given pocket money at a age wen they learn things. If we will give them money andtell them power of saving, they will learn not only investing but also saving, this habit should b instilled in them from childhood. So that they become conscious and become self dependent.
• United States
13 Feb 07
I do not give my children pocket money, but they are still quite young. Sometimes when my daughter does a chore I will give her a quarter for the crane machine(those machines in stores that have little toys in them). For older children, I think it's fair to give them a little bit of money for chores-- but I would expect 1/2 to go in their bank accounts.
1 person likes this
13 Feb 07
There isn't an inevitable connection between owning and spending.Accordingly,a child who has been given lots of money isn't related to influence that generates on children in my opinion only.Most inportant of all,it lies in parents'correct guide.Parents can foster children a well habit which children administer their money by themselves from their childhood.
@mbarryton (1872)
• United States
13 Feb 07
i can see your point. m kids get an allowance for doing chores but its not a big sum. now i think if a teenager has a job then all they money he/she makes is theirs to do whatever with
1 person likes this