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Pocket Money

This document discusses the advantages and disadvantages of giving children pocket money. While an unconditional allowance could lead to entitlement and lack of financial responsibility, pocket money with appropriate conditions has benefits. Requiring children to earn their allowance through chores can teach them the value of money and make them less likely to waste it. Receiving money for their efforts also allows children to develop money management skills, which improves their financial maturity and prepares them for adulthood. Overall, the document argues that while an unconditional allowance has drawbacks, pocket money with boundaries can promote financial responsibility in young people.

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291 views1 page

Pocket Money

This document discusses the advantages and disadvantages of giving children pocket money. While an unconditional allowance could lead to entitlement and lack of financial responsibility, pocket money with appropriate conditions has benefits. Requiring children to earn their allowance through chores can teach them the value of money and make them less likely to waste it. Receiving money for their efforts also allows children to develop money management skills, which improves their financial maturity and prepares them for adulthood. Overall, the document argues that while an unconditional allowance has drawbacks, pocket money with boundaries can promote financial responsibility in young people.

Uploaded by

krishnachaitanya.vegi
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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The IELTS Teacher Mastering IELTS Writing: Webinar

Giving children and adolescents pocket money is common throughout


the world

Discuss the advantages and disadvantages of this practice and give


your own opinion.

In many countries, parents often provide their children with an allowance.


Although this custom can be problematic in some cases, I believe that the
potential bene ts of nancial maturity outweigh these drawbacks.

To begin with the challenges, the most worrying aspect of giving children
pocket money is that it can engender a sense of entitlement. In other words, it
may cause them to believe they deserve nancial rewards without effort. For
instance, a child who receives money on an unquali ed basis might become
a spoilt and dependent adolescent. Another concern is that an allowance can
prevent children from developing scal responsibility. Consequently, they
could grow up to become nancially unstable adults because they would have
become used to receiving money regardless of their efforts.

However, these negatives can be outweighed by the positives of pocket


money, so long as appropriate conditions are put in place. Firstly, requiring
children to work for their allowance, such as through household chores,
should encourage them to appreciate the value of money. This is because
they will be less likely to squander their allowance after having worked hard to
earn it. Secondly, children who are nancially rewarded for their efforts can
develop new skills related to money management. If, in contrast, a teenager
is never given pocket money, their ability to manage their nances in
adulthood might be compromised by their inexperience in such matters.

In conclusion, despite the entitlement and irresponsibleness which an


unconditional allowance might bring about in young people, my view is that
pocket money with boundaries can promote economic responsibility.

The IELTS Teacher 2020


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