Allowance Essay

â€Å"Please Dad, Can I? † â€Å"No, you can’t. † That is the answer of most parents, when asked by their child if he can have an allowance. Parents believe that allowance makes a child unappreciated money. The truth however, is the opposite. Allowance helps the child turn into a financially secure adult by teaching him money management. Also, because it is their own money, children will feel independent and important. Finally, allowances teach kids that to earn money and succeed as an adult, one has to work hard and be responsible. Parents should give children allowances to help the child prepare for the future. Every parent wants their child to grow up, and become more successful than they were. To do this, the child has to learn to manage money properly, especially nowadays since swiping a card is all it takes to bankrupt oneself. Starting an allowance system will help a young person manage money better. If a child uses up their money for immediate gratification instead of saving it, they might regret it later because they cannot afford something. By learning to save up money the child will be learning to prepare for the future. Allowance help kids learn that spending your own money is different than spending someone else’s. For the same reason, children with allowances can grow up to be independent adults. Because it is their own money they are spending, children will not have to rely on their parents all the time. Instead of asking their parents – which is annoying and even degrading for the child, and irritating for the parents – they are able to use their own money. This makes the child feel important and helps increase their self esteem. When an adult, the child will not borrow too much money from banks or people and obtain a large debt. Instead, the person will learn responsibility and use the money he himself owns. Which leads us to our third reason: allowances teach responsibility and hard work. By earning ones allowance by doing chores and work around the house, a child understands that money does not grow on trees; instead one has to work for it. As an adult this person would work hard at his job to get money. Additionally, the money will not be wasted on unnecessary items because the child knows that there is a limited source. So as one can see, contrary to popular belief, allowances actually make kids appreciate money. For that reason, allowances help children become responsible, independent, and financially secure adults. Essay Topic: Allowances By: Tarim Shahab September 17, 2008 Mrs. de Mestral 7/8-3