Is Pocket Money A Good Thing?

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So, we kids LOVE getting pocket money because we can spend it on (in most cases) anything we like!

But is it actually a good thing?

These are some reasons for and against...

For: Yes, it is a good thing, because...

most children earn pocket money when they do jobs around the house; chores etc. or when they do good in school; getting awards, being praised by teacher or headteacher etc. and this encourages them to do more of these things. When they do chores, it helps them in later life. And when they do good in school, that helps them achieve more, also in later life.

Against: No, it is a bad thing, because...

some children do not get pocket money, and they might ask for some and parents may feel under some sort of pressure to give money, especially if they are not working, and then the kids will feel bad and, with their friends, embarrased. The parents will feel bad for not giving their children what they want, and end up feeling guilty. It is unfair for those families...

I ,personally, think...

that pocket money is a good thing because it encourages kids to do good, for pocket money. The best thing is: POCKET MONEY IS POCKET MONEY. When I say this, I mean that it doesn't really matteer how much pocket money you get. I knew a girl who had been saving up 2ps as pocket money... others get much more... but they are all still examples of pocket money.

However...

this may cause a finantial crisis, as we kids will probably only spend it on useless stuff, like sweets. Not on important stuff, like what parents use it for.

I'd love to hear your opinion on this!

Comments (16)

  • Upton-Cross-logo-250x250.jpg clever_starfish
    Upton Cross Primary School 01 Nov 2018

    I agree with the paragraph that says :
    Pocket money is a good thing.
    I say this because it encourages children to behave and it keeps them organised and disciplined.
    I was wondering how this might cause a financial crisis. Thank you

    Reply to this comment
  • CuddingtonCroft-logo-250x250.jpg joyful_pineapple
    Cuddington Croft Primary School 01 Nov 2018

    Personally, I think that pocket money could be a positive and negative thing in our lives.
    Positive, because it will encourage us to do good things in life, we can practise spending the money and learning how to keep it safe, how the bank works and how it plays an important role in life for when we’re older, and mostly, BUY WHAT WE WANT! However, this then connects to the negative side: we might spend it on objects that are addictive or not useful; when parents have the money, they spend it on what we NEED, not what we WANT. Furthermore, we could waste it, loose it, or even, give it to someone when we are deceived, and parents shouldn't have to lure us in to do something with pocket money. On the other hand, this will teach us to be more careful in future, and we can learn from the mistakes we make. In addition, as a family, you all have the share the chores and money.
    What do you think?

    Reply to this comment
  • Olivia-Avatar.jpg Olivia @ the BNC 02 Nov 2018 in reply to joyful_pineapple's comment

    Excellent reasoning shown! Well done for being open-minded and giving arguments on both sides.

    Reply to this comment
  • Boutcher-logo-250x250.jpg content_lemon
    Boutcher C of E Primary School 02 Nov 2018 in reply to joyful_pineapple's comment

    I couldn’t put in better words myself and you really made me think about different reasons! Thank you

    Reply to this comment
  • Ormiston-Bushfield-logo-250x250.jpg trusting_politics
    Ormiston Bushfield Academy 02 Nov 2018

    I think that it up to parents to decide. Personally I think that you should get pocket money weekly but not for doing anything because then when it comes to later life you will not want to do chores because you will not be rewarded. Also I think that you should get it because it teaches you about the value of money and about choices in life. You may spend it on sweets but that might be what you wanted. I agree that people might not be able to give there children pocket money which is okay but they need to explain to the child why they do not get pocket money and then they will understand. Overall I think that it is up to parents to decide and they should not feel pressured to give pocket money but if I was a parent I would give my child a weekly allowance.

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  • Boutcher-logo-250x250.jpg content_lemon
    Boutcher C of E Primary School 03 Nov 2018 in reply to clever_starfish's comment

    It will cause a financial crisis if we keep spending money on silly, unimportant things

    Reply to this comment
  • Graveney-logo-250x250.jpg beloved_chocolate
    Graveney School 03 Nov 2018

    I think that pocket money can be both a good and bad thing.

    Pocket money can be good because it means that children get rewarded for doing good things, which will encourage them to do more. Also, if children are given money to spend themselves, they will learn how to use money properly and how to look after it. As well as this, it gives them a certain amount of freedom and independence, which can help them when they grow up.

    On the other hand, pocket money can be a bad thing because children may feel jealous if others receive more money than them. Another dilemma is that if the money is spend on bad or unhealthy things, it would be a waste of money which could be used on something better. Receiving money for doing chores or doing well in exams will teach children that they will always be rewarded when they do something good, which does not happen when they become adults. Also, parents buy clothes and food for their children, as well as birthday and Christmas presents and maybe buying the presents that their children give to others. Children owe a lot to their parents and they can pay them back by helping with chores, instead of making them lose even more money which they could use to buy food.

    My opinion is that children should not be given pocket money unless they earn it really well, not if they just do well. If children receive pocket money constantly, parents may be pressured to give them more or buy their kids anything which they ask for, which is bad.

    Reply to this comment
  • Olivia-Avatar.jpg Olivia @ the BNC 05 Nov 2018 in reply to beloved_chocolate's comment

    Excellent reasons and an open-minded response. Well done!

    Reply to this comment
  • Noel-Park-logo-250x250.jpg fearless_wolverine
    Noel Park Primary School 05 Nov 2018

    In my opinion, pocket money is a good and bad thing.

    Some children get pocket money when they do a deed or if they behave and they get it as a reward. This means that they are doing something good and it can encourage children to carry on. In addition, children will learn how to use money and ways to save money as well as make them happy because they can choose what to buy.

    On the other hand, children might waste their pocket money on expensive and inconvenient things. Furthermore, children might start thinking that every time they do something good, they expect to receive money.Consequently, parents might run out of money. Also, if children become jealous of the amount of money which others receive, they will start to do too much chores meaning that they will not have much time to complete other tasks.

    Personally, i believe that pocket money is a good thing as long as children spend it wisely on useful and age appropriate things that are inexpensive. Additionally, i think that children should also get permission on when they want to buy it and whatever they buy should be checked by adults. This way, adults wont need to worry about giving their children pocket money.

    Reply to this comment
  • Olivia-Avatar.jpg Olivia @ the BNC 05 Nov 2018 in reply to fearless_wolverine's comment

    Well done for giving reasons on both side of the argument, which shows great open-mindedness!

    Reply to this comment
  • St-Edwards-logo-250x250.jpg chatty_temperature
    St Edward's Catholic Primary School 05 Nov 2018 in reply to beloved_chocolate's comment

    I also agree with you because it will actually encourage the children to do more work and experience how other children who are poor and have no money and have to do these chores to earn the money and I also agree that it is a bad thing because they might just go out and buy something that they don't need.

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  • St-Edwards-logo-250x250.jpg chatty_temperature
    St Edward's Catholic Primary School 05 Nov 2018 in reply to beloved_chocolate's comment

    I also like the way you have set out your paragraphs on each topic. Great reasonings.

    Reply to this comment
  • Boutcher-logo-250x250.jpg impartial_panda_bear
    Boutcher C of E Primary School 09 Nov 2018

    Hi content lemon, I loved your post. I liked the structure and the paragraph headings. I have done a similar post. Some of it even seemed like it was copied and pasted. (not saying you did, it was the first thing that came to my mind!) Oh well... Great minds think alike!
    Maybe you could visit my post and look at some of my ideas!

    Reply to this comment
  • Boutcher-logo-250x250.jpg content_lemon
    Boutcher C of E Primary School 09 Nov 2018 in reply to impartial_panda_bear's comment

    Hey impartial_panda_bear! Thank you for admiring my use of words!
    I have visited your posts and think that they are equally as good!

    Reply to this comment
  • Boutcher-logo-250x250.jpg believable_introduction
    Boutcher C of E Primary School 12 Nov 2018

    Hello content_lemon. I really liked your post and thought on the AGAINST,NO IT'S A BAD THING -I think it's true because they actually might feel some pressure and also it is really embrassing if the child doesn't get pocket money and their friends do.
    I think pocket money is a good idea and a bad idea.

    Reply to this comment

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