Children Allowances
(Many parents give children a weekly or monthly allowance regardless of their behavior because they believe an allowance teaches children to be financially responsible. Other parents only give children an allowance as a reward for completing chores or when they have behaved properly. Explain what you think parents should do and why.)
Parents have different opinions on whether an allowance at an early age is appropriate or not. Some believe that children should receive an allowance whether or not the child behaves properly. Most financial experts say that an allowance at an early age is a good idea because the child learns financial responsibility.
A parent can provide a child with an allowance as young as three or five. This is the appropriate age because this is the period where children want material items. An allowance can provide a child with understanding the concept of budgeting and saving. If a child is provided with a weekly allowance it helps the kids take responsibility on spending decisions and encourages independence on the child.
The controversial topic on whether a child should be given an allowance based on chores or good grades or just given on a weekly base is debated all the time. Child development experts say that generally giving children an allowance based on chores and good grades is generally not a good idea. The problem in this idea is that it undercuts the idea of the family morals. It also undermines the lessons parents want to teach their children and it becomes manipulative. I personally do not see any harm in this idea. Children will learn responsibility because in performing a chorethey know they have helped the family and will receive an award which is money for their work. They will learn responsibility and be prepared for when the time comes for them and engage in the work place. They will have experience because if they know they’re performance should be impeccable then they will be rewarded.
An allowance can also be beneficial to children because they can save the money they receive. All children are different; some need more encouragement than others when it comes to the concept of saving. Some children who save on their own and is very difficult for them to spend money. For those children who don’t want to save, parents should require these children to save a portion of their allowance, but at the same time parents should make saving something fun.
Since parents have different perceptive on the way they want to teach their children about allowances, there might not be a right or wrong way in about dealing with the situation. In my opinion I believe that children should be rewarded on when they’re performance is good. Children should not be rewarded if their behavior is inappropriate because the child will know that they will receive an allowance regardless of their behavior.
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