Should Parents Give Their Children an Allowance?

Families differ greatly with regard to giving their children an allowance. Some parents think it is only fair to allow their children the freedom to do something that they enjoy doing and will gladly give them a weekly allowance. Other parents are worried about what their child will do with the money. It can be a touchy subject for some parents.

Reasons to give an allowance/ pocket money

Parents may choose to give their child(ren) an allowance based on their academic performance, and because they have been shown proper respect. Under these circumstances, giving their child an allowance is an easy thing for them to do. They are given a specified amount of money and they can spend or save it in any way they choose. Children can use it to buy snacks, magazines, or save up for a toy or some other purchase. Some prefer to put the money in the bank for a rainy day. The decision is the parents' to make and depends on their relationship with the child.

Choosing not to give an allowance

On the other hand, some parents choose not to give their child an allowance. This may be due in part to their child's performance in school, rebelliousness and a disrespectful attitude towards them. Under such circumstances, refusing to give an allowance is part of the child's punishment, so that they can learn from their mistakes and correct their life course. It will curtail their freedom to do as they would like to do. This may be a temporary arrangement or a sustained, long term arrangement.

Work for an allowance around the home

Other parents would prefer to give their child an allowance as "wages" for work they have carried out around the house. This may include such tasks as dusting, vacuuming, cleaning the bathroom and mowing the lawn. The parents decide how much each task is worth and then pay their child according to the tasks that have been completed. This can work very well and teach a child valuable money management skills from a young age. They will also learn that they will only get paid for completed tasks. It is a skill that will stand them in good stead for when they enter the workforce later on in life.

Part-time job outside the home

Rather than give their children any kind of allowance at all, some parents encourage their children to get a part-time job outside the home. This may be a paper round, washing cars or mowing other people's lawns. The job may be part of a family business, in which case, they can keep an eye on their child and make sure they are getting on well with the tasks they have been assigned.

In conclusion, deciding whether to give their child an allowance is a very personal decision that should be left to the parents or guardians. It is based on many factors and will reflect the value system of parents themselves. Whatever method is chosen will help a child learn the connection between work and money. It will hopefully teach them that money is not earned easily, but requires some effort. Children who do not receive an allowance due to misconduct can see that their actions are holding them back and can be just what they need to help them make the necessary changes in their lives. There is no right or wrong answer in this discussion. Each family must decide for themselves what works best for them.