1 Adv/ Disadv. Giving children and adolescents pocket money is common throughout the world. Do the advantages of this practice outweigh the disadvantages?

1) Adv/ Disadv. Giving children and adolescents pocket money is common throughout the world.
Do the advantages of this practice outweigh the disadvantages?
In many countries, parents often provide their children with an allowance.
Although the custom can be problematic in some cases, I believe that these issues
are negligible compared to the potential benefits of financial maturity.

Concerning the challenges, one of the most worrying aspects of giving money to

children is that it can engender a sense of entitlement. In other words, this
practice might cause them to believe that they have a right to deserve pocket
money without any efforts. As a result, a child who is used to receiving financial
awards on an unqualified basis will have a higher tendency of growing up as an
irresponsible and spoilt as adolescent. Furthermore, the provision of a consistent
allowance can enable children to squander on unnecessities. It is not uncommon
to see these youngsters to spend most of their time in game clubs or even
become involved in drugs due to having extra money. These in turn will have an
adverse effect on their future.

However, the above drawbacks are outweighed by the benefits of this practice so

long as appropriate conditions are put in place. Firstly, requiring children to work
for an allowance through, for instance, assigning home chores should encourage
them to appreciate the value of money. This way of upbringing leads them to
make a better use of their acquired money on more reasonable matters.
Secondly, children who are financially rewarded for their efforts could develop
new skills related to money management. If, in contrast, a teenager is never given
pocket money, their ability to manage finances in adulthood might be
compromised due to inexperience in such case.

In conclusion, despite the entitlement and irresponsible usage of money which an

unconditional allowance might bring about in young people, my view is that
pocket money with boundaries can promote economic responsibility, which will
be of greater importance later in life.