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Giving children and adolescents pocket money is common throughout the world.

Do the advantages of this practice outweigh the disadvantages?

Over the last few years, a number of parents have been supporting their children by spending much more money. While there are some downsides to this trend, I believe its upsides are more important.

On the one hand, there are a few obvious disadvantages behind expending money on young people by their parents. The main one is the lack of financial responsibility. To explain, if children receive money too easily, they may not learn the value of earnings and manage it wisely. In this case, children can spend their money without any thought and may ask for it again and again from their parents. For example, they may spend their money to go to the bars and restaurants in order to drink alcohol or smoke with their friends, which is insignificant most of the time for children. In contrast, if they earn money by themselves, they will not spend their money on such unnecessary things, which allows them to learn how to spend money carefully.

On the other hand, there are clear advantages to spending money on young people. The first one is that children may learn how to spend money earlier if their parents teach them about financial issues. To be specific, children or adolescents are using money during school time, but they do not know how to spend it effectively. For example, they sometimes look up to their peers because they spend a lot on entertainment. Instead of expending on such nonessential activities like playing computer or video games and going to the cinema or parks a lot, they should have learned to spend their money to gain more knowledge, such as learning foreign languages or computer science, which gives them a chance to earn much more money in their future. Thus, parents should invest money on their children in order to build their strong future, not only for the entertainment.

To conclude, not only does spending much more money on children have some drawbacks because of the lack of knowledge about how to spend money correctly, but it also has a host of advantages for building their vivid future.

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