Pocket money has a wealth of benefits for both the child and the family. In fact, kids who get pocket money are more likely to develop strong financial planning skills, and are less likely to get in debt as adults. The above factor alone should be enough to sway you in to giving your children pocket money. However, there are a wide range of benefits to giving pocket money. Pocket money reinforces this — teaching children the benefits of saving, careful spending, and money management. Pocket money is the building block for adult self-sufficiency.
Pocket Money Should Be Given to the Teenagers or Not? Free Essay Sample
Lauryn immediately pulls her cellphone from her jean pocket and captures pictures of herself driving. Unknowingly to Lauryn, police officers pull up next to her car at the stop light but she quickly put down her phone to avoid a ticket or any other serious consequences. The light turned green and the police officers went down the street without having made any type of contact with Lauryn. She then proceeds to take her cellphone out from her jean pocket again and began to text her friend, Daniela that.
Paragraph on the importance of pocket money for children
Research suggests that children as young as four who receive pocket money can learn valuable lessons about independence and managing money. A six-year-old child might get R60 per week R per month and be responsible to provide their own spending money for the school tuck shop, to pay for the movie they want to see that month, and to save a little towards a toy they want to buy when they have enough money. Discussing the process and how it will work with your child is part of teaching them about money. Some parents set up some basic guidelines and rules in collaboration with their children.
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