Some people think that it is a good idea to give children a small amount of money each week to spend on what they would like. Other people think that this is wrong and that it is a waste of money. Discuss both views and give your own opinion. v.2

The pocket money for children has always been a topic of argument between parents, all over the world. Some support this idea by saying it teaches financial aspects, and others find it wastage of money. My thoughts are with the first part of the above said statement. Furthermore, this essay will discuss both aspects of the topic. On one hand, parents want their children to learn financial independence at an early stage of their life. Eventually, they start giving them some money which could be spent on anything of their liking. For instance, parent allotting a weekly budget to their children want them to spend it or save it as per their requirements. Thus, the children do not need to always ask money from their parents and make them self-dependent because of the money, they own now. On the other hand, since, a child do not have very mature mind and can start wasting money on some bad habits, such as eating junk food or smoking. Thus, the easy access to money can turn into their downfall. One very popular example is, the rich people's children, who fall prey to bad habits just because of the handful of money they have in their pockets. In my view, parents should provide a chunk of money after analysing their needs, and they need to monitor it properly to keep them away from bad companies. Moreover, it is to teach them a monetary value of different products in their life. In conclusion, a coin has two different sides, similarly, this model of allowing children weekly budget has its own pros, like learning about the finances, and cons as wastage of money. However, the monitored approach makes it very successful in the long term.