Some of the main advantages of giving money to children: Today many parents don't believe that giving pocket money to their children is that beneficial and that each family should have its own appropriate reward system for children. Psychologists and experts are divided on whether pocket money is good for children. However pocket money was not always a common practice. Thanks to pocket money parents also incentivize their children's chores. For many pocket money has an educational purpose: children can learn the value of work, as well as how to save and manage a small budget. These allowances are handed over either on a regular basis or as a reward for certain tasks or accomplishments. Many parents give pocket money to their children. We debate whether children should get pocket money, and under which conditions. Allowances are often seen as a good way of teaching kids about money.
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