![]() Which school of thought is correct? Here is our take on this eternal question.Īt the risk of over-generalizing, Indian parents are rather protective of their children. On the other, some parents believe that giving allowance to kids and making them accountable for how the allowance is spent, makes the children financially disciplined. On one end of the spectrum, the skeptics see children getting spoilt with all the pocket money they are getting. ![]() Parents in India are divided over the issue of giving an allowance or pocket money to their kids. We also explore the potential contribution a ‘pocket money culture’ makes to today’s societal problems – obesity-pandemic, addiction-culture and materialism.To give or not to give is the question. Our objective was to investigate the practices of a cohort of modern-day parents in Ireland regarding the administration of pocket-money to their children in terms of ethos, amount, frequency and supervision. ![]() There is a dearth of information available worldwide in either the medical literature or contemporary media on the amount children receive as pocket-money, how they spend it, how they should spend it and the consequences of the above. 1įrom a paediatric-research viewpoint, pocket-money is considered a minor variable to be assessed when examining the broader picture of children’s negative health habits. ![]() Previous research has found that pocket-money is a simple way of preparing children for the future and creating more financially literate adults. Much of the available published research focuses on the philosophical and sociological impact of pocket-money on the child’s autonomy and on the dialogue between the parents’ value systems or work ethic and how they confer this on their children. Background and aims Pocket-money is generally accepted to be a means for parents to introduce concepts of self-management, saving, budgeting and responsibility for their children. ![]()
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