Pocket money? Indian parents always frown at the word. My mom used to tell me (long back) that we’ll get you things that you want, from stationary to snacks, whatever you want just ask for it… what do you need the money for! There is a century long history of Teenagers and their parents having tiffs for “why the pocket money”.
Here I’d like to ask parents to be a little liberal. Just because you are giving pocket money to your teen doesn’t mean you’ll find him sitting in some bar spilling drinks! What you need to understand here is as much as you doubt that money will corrupt your child’s mind, on the flip side you can also make your child learn the value of money through pocket money. Just the right way, right time and a little faith in your teen.
When they have some money that they can call their own, they have some important decisions to make. Flashback to the first salary of your life, didn’t you feel suddenly grown up? Ahh, well… nostalgic I know! Now come back and think… don’t you want your child to take some decisions on how to spend their money? I don’t say that they won’t make the wrong (read tempting) decision but that’s how you learn right from wrong. And you are there to correct them when they are wrong. Cutting off pocket money outright isn’t the best thing to do for a smart new-age parent like you. And trust me when your child buys a birthday gift for his grandpa instead of the much desired videogame, you are gonna be a proud parent!
The pocket money teaches the child to spend and save from an early age and this is something he/she is gonna encounter throughout their life span.
Wanna know how to manage your teen’s pocket money? Click here…