Wednesday, May 9, 2012

Should kids be given weekly allowances or not?

Some people believe that giving a weekly allowance will help children to develop good spending habits. Do you agree or disagree?

Model Answer
Parents have been teaching their kids making budget and to decide spending choices through a weekly allowance for last many years. In recent time, it has become a controversial question whether this trend will help the children to learn some monetary management of life or will hinder their development in other ways by diverting them. There are good arguments on both the sides. But in my point of view, this can help them a far more if given under some proper guidance and supervision. My essay will give some strong reasons to support my view. Let me elaborate in detail. 

First of all, providing allowances to kids will give them a chance to understand how money works, and to learn how to carefully monitor their budget. For instance, I was provided a small amount of money as my pocket money every week in my childhood. That small sum of money gave me a sense of independence. Because I always had a small amount with me, I did not have to ask him every time I needed to buy a book, pencil or things like that. I also learned the importance of spending money wisely. As I was getting only a small allowance, I had to limit my spending. I had to spend money only on things that was absolutely necessary. Moreover, this will teach them to prioritize their choices, like what to buy and what not to or what to buy first and what to later. In addition this will develop money saving habit in children as well. So in my opinion, giving kids allowance is a good idea which can teach them money management or will help them in learning spending choices, which will be very much helpful in later life.

On the flip side, allowance systems are effective only when they afford the possibility for discussions about their expenses within the family, such as why, where and how the kids are spending this money. Sometimes giving too much money to kids can spoil them or make them pervert. Many parents who have high disposable incomes commit this mistake. Kids are too young to understand what is necessary and what is not so if they get a lot of money without supervision, they are invariably going to splurge. They might even get into harmful habits like smoking, drinking and gambling. So I think what parents should do is to give a small amount that would meet the day-to-day needs of their children. Parents must also monitor what their kids are doing with that money.

All in all, giving weekly allowances to children will give them a good chance to understand how money works as well as teach them value of money and can develop habit of saving money but this all can only be possible with proper supervision. So I support the idea to give allowances to kids but with a condition of enough supervision. (486 Words)

Dear students,
Here I have written a sample answer which is quite over-length,   you can read it and get some ideas about this topic.

You can ask me any of your difficult topic which you want to gather idea about.
Waiting for kind comments....

With regards,

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