It is common that many parents today offer nominal sums of money to their children weekly. Some people assert that this method of financial gifting would develop certain independent skills required for children in the long run. I personally agree that this would make children more capable and skilled in money management as they grow older for various reasons but would possess some dangers that cannot be ignored.
To begin with, one of the major advantages of this practice is the accomplishment of the knowledge about money management in childhood. Moreover, it is a fact that childhood is the formative period of life. Therefore, if children are taught such skills, certainly that would strengthen their ability to confront with various skills and tribulations in the long run. Another merit of this act is that this money could be used for their personal needs especially in emergency situations. To cite an example, children can effectively manage incidences like the unexpected cancellation of the public transport and strikes and so on. Besides, the habit of saving can be cultivated and parents can keep them happy and satisfied and thereby strengthen the family bonds.
On the other hand, it can be noticed that children are just agile and fun-loving in nature, who are not always physically and mentally matured enough to take informed decisions about money. These youngsters, who are tender-minded, could use this money for various purposes such as smoking, drug addiction and for amazing latest trendy gadgets. The result would be even more disastrous as it would surge the number of crimes in the society. To cite an example, many evil minded people could take it as a source of revenue by cheating and harming the vulnerable children for the money.
In conclusion, I believe that though weekly allowance by parents to children has some positive sides, the negative aspect of this practice is much less rosy than many people think it is.
It is common that
many
parents
today
offer nominal sums of
money
to their
children
weekly.
Some
people
assert that this method of financial gifting would develop certain independent
skills
required for
children
in the long run. I
personally
agree
that this would
make
children
more capable and skilled in
money
management as they grow older for various reasons
but
would possess
some
dangers
that cannot be
ignored
.
To
begin
with, one of the major advantages of this practice is the accomplishment of the knowledge about
money
management in childhood.
Moreover
, it is a fact that childhood is the formative period of life.
Therefore
, if
children
are taught
such
skills
,
certainly
that would strengthen their ability to confront with various
skills
and tribulations in the long run. Another merit of this act is that this
money
could be
used
for their personal needs
especially
in emergency situations. To cite an example,
children
can
effectively
manage incidences like the unexpected cancellation of the public transport and strikes and
so
on.
Besides
, the habit of saving can
be cultivated
and parents can
keep
them happy and satisfied and thereby strengthen the family bonds.
On the other hand
, it can
be noticed
that
children
are
just
agile and fun-loving in nature, who are not always
physically
and mentally matured
enough
to take informed decisions about
money
. These youngsters, who are tender-minded, could
use
this
money
for various purposes such as smoking, drug addiction and for amazing latest trendy gadgets. The result would be even more disastrous as it would surge the number of crimes in the society. To cite an example,
many
evil minded
people
could take it as a source of revenue by cheating and harming the vulnerable
children
for the money.
In conclusion
, I believe that though weekly allowance by parents to
children
has
some
positive
sides, the
negative
aspect of this practice is much less rosy than
many
people
think
it is.