Final Exam part 3

I think that parents should give their child a set allowance every week for the benefit of a child learning more about finances. I think when a child has the ability to some freedoms at a young age it can help them later in life.  

Personally I did get allowance when I was younger and I do believe now that that has taught me things about when I really want to or need to spend money. As most children would as soon as I got my allowance i would want to go buy something for myself because it made me feel important when I could spend my own money.  When my parents then took me to the store it made me realizes that I might not have all the money I need to buy this toy so I had to save up which today I do. Being able to save money is really important.

Another lesson that can be taught is that is the child does want to buy unnecessary items that the parent does not think is reasonable you can make them purchase it themselves. They can also learn the value of money and about the difference between things you need and do not really need.   Which is another important life lessons that eventually taught so why not teach it to them while they are young so they do not in the future go around spending money recklessly. 

Children tend to go through life with the task that they learn at a younger age and comprehend and practice them for when they will eventually be an adult. You need to teach a child early so they can continue and advance. So all these benefits that I have mentioned can really help your child when they get older.

Although allowances are good you can not over estimate the correct amount to give them. You should start smaller then continue to grow as the child gets older do they feel more accomplished.  If you give the enough os that they can always buy anything they want then it is really contradicting the idea of an allowance in the first place. 

If you are not comfortable with just giving a child money then try basins it off of behavior as well. This could also help them learn things such as manners and get good practice on them. Eventually you could also tack  on some chores for extra amounts at their pay period. 

Over all giving a child money for a set schedule is a good idea and has any benefits to it.