Is Pocket Money Necessary for Children?

Although I agree with giving children pocket money, you should do so by taking necessary pre-cautions. Firstly, educate them on the value of that money. Teach them that although they can spend it on what they want, try not to waste it as saving it can often result in buying bigger and better things like toys and such. Also, they must do something to earn that money. Don't just give it to them because they asked, make an agreement. Any time they mis-behave, they will lose money. Any time they do any chores or something worthy of reward, raise the amount they receive.

No. pocket money is necessary for us children.. haha ! because what if something will happen right? so at least we have pocket money to solve unnecessary things ..

i think it depends on the terms and amount as well as the age of the child. For instance, a young child shouldn't need any pocket money. Particularly one who is too young to do any real chores (apart from picking up their toys and putting their dirty clothes in the hamper). As kids get older, they have things they want to buy that parents won't buy for them, or activities they want to do with their friends (go to the movies, skating, etc) -- but then they're also able to do assigned chores. So if a child is given some money for doing a certain list of chores per week, that's not only a good way to encourage them to take an active role in maintaining the household cleanliness but a nice way for them to learn what it feels like to actually EARN the things they get to buy or do. When I was a kid we did that. We were given 10 chores to do per week (for instance, wash dishes on Mon, Wed and Fri, clean the bathroom on Tues and Sat, vacuum the living room on Tuesday and Saturday, wash the windows on Sunday... you get the idea). In return for those chores, we received $10. For each of those chores that isn't done, you lose a dollar. Additional chores could also be negotiated for more money. We also could not ask for additional money without offering something in trade... chores, babysitting younger siblings, running errands, etc. But there has to be terms. If you're giving your kids $10 a week and they're still asking for more money... well that's just ridiculous.

I think that it is good to give pocket money to children. They should know how to manage money even from young age. Also, encourage them to buy things for their need depending on the age of the child. It is good to give money to them and practice them saving money. It will help them to understand the importance of having money to support themselves.

I give my son pocket money, just to teach him how to handle money, to budget and be responsible. I always told him not to buy things that aren't necessary just buy the things that need at school and at the same time he is learning to save money from his allowance.

Pocket money is given to my kids aged 13, 9 and 7 only if they go out-of-town and neither my husband nor I is with them. The amount is enough for them to buy the food that they want to eat and to buy a little souvenir that they like.

I think in some respects that giving pocket money can be good, it can teach them some valuable lessons about money as long as you stick to the amount they get and they have to save it if they want to buy something special. I do not however agree with money as a reward for good behaviour I think it is a little sad to be honest that the days have gone where good behaviour is rewarded by a parents response for example they are good we enjoy that behaviour and respond accordingly so children behave because they like the feeling it gives them.

Hi there, i will answer to you, just from my experience, with my parents, when i was kid, and with my kids now, when i am parent. When i was kid, every week my father give me an amount of money, let s say 10 dollars, and with this money i can buy ice cream, candies, all what i want to buy..but all time i receive this money just with one condition; to be very good in school, and i was for sure, but i can tell you that never i spent that money for candies or sweets, week by week i deposit this money in a box, and one time in a year i can afford to buy something just for me, or for traveling; so, i was good in deposit and save money . After many years, i try to make same with my kids, and i want to say that they make same; they save money, and when was my birthday all time they have money in theirs pockets to buy something for me. Never they don t ask more money, never buy ciggaret or something like this, and they apreciatte very much my trust in them. So, in my case was a good solution; kids must to know to apreciate work, money, but never they must to have empty pocket if they want to buy a candy or a ice cream, or a present for me, why not So, all depend only of kids education how they know to manage a small amount of money, how they feel in secure with few cents in pocket. If a parent trust in his kid, kid will trust in his parent too, and will respect each other.

I think yes, if your child is in problem like if he missed his or her bus or suddenly he or she can got an accident that type only his or her money can help your child.