Topic: 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?
I, as a normal employee in a private company, always struggle to spend my monthly salary wisely. I think many other people like me do not know how to spend their money on the basis of a time frame. Thus, some people have brought forth a solution that if children receive a specific sum of money weekly, it would be a good practice for their future lives as adults. I totally agree with this opinion because of several financial issues.
To begin with, a weekly pocket money strategy teaches youngsters the pivotal life lesson of "how to become a good accountant". A good accountant always calculate and monitor the whole amount of money available, and remained financial resources for a certain period of time. If children are given a particular amount of money for one week, they have to act as an accountant and carefully spend their money on things they actually need. Thus they learn how to manage their money. This approach unconsciously changes into a habit for them and in the future they will encounter less economic difficulties.
Second, saving money in a proficient way is a valuable skill which is required to be taught to youth. Allotting an amount of money to children's weekly pocket money is a method to meet this end. For example, if children know that the only income resource they have is only that money they gain every week, they will be obliged to save their money with the intent to purchase their favourite book, computer or toy. Learning not to be a great spender and save money based on a plan are crucial life skills that the weekly money given to children enable us to develop them.
Finally, children value money when they know it is not accessible any time they need it. Living in a luxurious world where all people are overwhelmed by advertisements steers individuals to save less, borrow more, and consume endless array of products, which is known as consumerism. This wrong cultural norm of the contemporary era would be erased by providing a way for people to worth their money more and do not lose it easily. Weekly pocket money is an exercise that can evolve this thought form the very early ages of a person's life. In other words, children learn if they consume money unnecessarily, they will not have money for one week. This behaviour at a higher level would save the society form the epidemic of materialistic values.
To sum up, many of the financial problems we are fighting against every day would not be viewed as issues to the next generation, if we grant them a specific amount of money per week in order to teach them how to manage their money and spend it rationally.