Pocket money is the money that parents give to their children when they young. Pocket money helps children to learn about money management, and slowly, they get to know about the importance of money in their lives.
Significance of Pocket money: Pocket money carries huge significance in every child’s or every person’s life. Pocket money eventually helps children to learn about spending and saving money in the right manner, which is also called money management.
Pocket money leaves a beautiful smile on the faces of children which nothing else can provide at that age unless a relative has offered some sweets or money to him/her. And parents are usually pleased to provide pocket money to their children to see the beautiful smile on their faces.
Parents should also make sure that they give pocket money to their children, which is sufficient for them to survive for a week or even for a day. Extra money given to your children would always make them spend money carelessly, and this will be difficult to control when they become adults.
Many parents make a deal with their children like making them clean their rooms or clean the mess that they have created, and then only, they offer their children their pocket money. In this way, children also learn the importance of staying in a clean atmosphere.
As a parent, one should always make sure that he/she is giving sufficient pocket money to the children as children should never be borrowing money from their friends in the school or colony. Borrowing is not a good habit, and it never will be. In extreme cases, borrowed money involves interest due to which, one needs to pay an extra amount of money than he/she has borrowed from someone.
All these points mentioned above should be followed by every parent as pocket money is necessary for every child. However, pocket money should be given in a manner that your child may never get ill-mannered or careless. And he/she should always become a kid who cleans his/her surroundings and rooms for the sake of earning a few bucks from his/her parents. Do it right, and your kids can learn a great deal from the process of pocket money!