Some people think that giving their children a certain amount of money every week will help them have fewer financial problems in the future. Do you agree or disagree?
Nowadays it is common that parents giving some pocket money to their children. Even some parents think that such routines are helpful for children to minimize financial troubles in their future. It is disagreed to that concept. This view will be supported with the following reasons.
Firstly, children who receive money from their parents are more prone to become extravagant. For instance, one of my cousins, who is nearly bankrupt, received pocket money from his parents at his schooldays. Unfortunately, that source of money led him to spend more than what he earned and ended up in debts. From this example it is clear that giving money to children is not helpful for them to secure their financial status in future.
Secondly, allowing handling of money at childhood is not the finest way to eliminate financial trouble in adolescence, but teaching them to work hard has more effect. For example, Ravi Pillai, a successful businessman from Kerala, told that advises from his parents to work tirelessly to reach goals helped him to succeed in his business life despite the financial troubles he had initially in it. Thus, instead of giving money, parents can influence their children to be a competitor in life to stabilize their financial status in future. Now it is clear that pocket money itself won’t help children to secure their future financial background.
To conclude, giving some money to children is not unacceptable. However, that custom is not intended to reduce the financial problems in adulthood. After analyzing this subject it is advisable that every parent should teach their children to use the money they received wisely. Then only children can face the financial difficulties in their future.