Question

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Write a speech on the topic:-

Parents should let their children decide their pocket money...

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Answer 1

Answer:

Giving pocket money to children as young as four or five years helps them start learning about the value of money and money management. For example, when children get pocket money, they have to make choices about spending or saving. And if they’re saving, they’ll learn about waiting for things they want.

Pocket money can also help children learn about consequences, including the consequences of losing money or spending it unwisely. Letting your children make a few mistakes is part of the learning process.

Children learn a lot about money management by watching how you use money. For example, if your child sees you setting a spending limit or shopping around for the best price, you help your child learn about sticking to a budget.

Answer 2

Answer:

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Pocket Money has always been a huge concern for both the parents as well as children. Children want money so that they could spend on their own for the things that they like and parents on the other hand do not want to give money as they are surrounded by their own inhibitions of what will the child do with that money? He may misuse the money and lead onto a wrong path and so on? As every coin has 2 sides, so does this also have, but let me share the advantages of giving pocket money to your child.

The first and foremost benefit of giving pocket money to your child is teaching him to be independent. It is always with children, in fact with adults as well you like to be the opposite of what you are, i.e. children want to behave like grownups whereas adults always feel like going back to their childhood days; So when you give your child pocket money, they appreciate the fact that you have trust in them to handle the amount wisely. When you give them money you can teach them to manage their expenses. Make it very clear to them, the amount that they have received, they have to manage all their expenses within that amount and they will not get an extra amount if they misuse it. Also if you are skeptical if they would misuse the amount, ask them to give you the list of expenditure at the end of the week/ month.