What do children want money for?
Answering this question, many adults and psychologists sound quite determined: children must feel independent and not threatened by the world of the adults. If a kid can’t at times buy what (s)he likes (s)he’ll be trapped by negative emotions. (S)he might become sort of addicted to materialistic things and envious towards other children as well as develop an inferiority complex.
The opponents of the pocket money reason that as long as the child is not old enough the adults should provide entirely. (S)he might misuse the money so (s)he must be relieved of this responsibility. Sure, if you keep providing him/her with pocket money, in however insignificant amounts, (s)he’ll become a moody and selfish little creature unable to calm his/her fancies.
As the child gets older, (s)he must learn to make money himself/herself. Those opposing pocket money often refer one to the American family life. Wealthy parents don’t give a cent to their offspring, but force them to get a job as delivery boys, couriers or car washers. Such is, after all, the only way to see what the money is worth and experience life in all its toughness.
You might give the money if…
(S)he understands the parents’ problems. Aware that there’s no such thing as easy money. If parents talk with their children about their job, the latter might start realizing it as early as 6-7 years old. (S)he knows exactly what (s)he needs the money for and can clearly explain where his/her money will go to. The result is not that important after all. It is not very important if (s)he ends up buying bubble-gum every day or save the money. The point is the child has to sound reasonable when (s)he asks for money.
(S)he’s old enough to go and buy something. That is to say, before you start giving him/her some money regularly, test his/her ability to buy some domestic stuff. (S)he must be able to manage the given cash so that there’s enough money for the milk, the bread and the meat. And keep in mind picking up the change.
The child isn’t old enough to deal with the pocket money if…
(S)he is out of touch with what parents do for living, what wages and salaries are and how you get it. Mind that not only the kids of the well-off parents (who roll in wealth) might be as naive as that. If the parents make very little money and work hard for it, too (but do the best they can to not let the kid see it), their child might end up being just as inexperienced.
(S)he is not able to abandon a petty wish for the sake of something bigger. (S)he’s not going to abandon any passion and refuse to hitch his/her wagon to a star saving the pocket money. The kid is out of control. If (s)he misbehaves, reneges on his/her promises and is apt to resort to a lie, (s)he won’t benefit from pocket money. (S)he might start to think that (s)he can get money just like that rather than as a reward for something.
You can check the recent articles of the same author about best indicators for forex trading and about a difficult problem To lend, or not to lend money to relatives
If you would like to make a comment, please fill out the form below.
