Pocket money is money that we have and that we can spend on what we like without having to account to someone. Usually, as far as children and teenagers are concerned, pocket money is given by their parents to help them pay for necessities. The amount of pocket money one requires depends on what one needs to pay for. It also depends on how much the parents can fork out. It may be given on a weekly, fortnightly, or monthly basis. Some parents attach conditions on what the money can be spent on.
Children can always ask their parents for money but there are limits. Parents will say that they have very few needs, other than food they have to buy in the school canteen. However, teenagers have more things to pay for like snacks, entertainment such as cinema tickets, DVD rentals, books, and magazines when they go on an outing with friends. Other items they need to pay for may include mobile phones and phone credit, school supplies, public transport, and other travel expenses, birthday and holiday presents, and savings.
So, some teenagers may help their parents with household chores to supplement their pocket money. But, this is not advisable as it is wrong to attach a monetary value to tasks in the household. They may however be able to look for some ways to earn extra pocket money. It is more fun to earn your own money whatever the amount is. Parents should and can allow their children to earn pocket money.
There are several ways to supplement pocket money. Consider taking on a steady part-time job at a fast-food outlet or a shop near your house. Helping your parents, neighbors, or old people in the neighborhood with their work, such as typing or running errands like doing weekly shopping for them is another way of earning some pocket money. At, times, one can also do some mowing of the grass for the neighbor or looking after their home when they are away. These are good neighborly act and perfectly sensible ways of earning some extra money.
Tutoring other students is a good way of supplementing your pocket money. Doing this helps the students and in return, you are indirectly doing revision. Babysitting for some neighbors is another activity that is both useful were earning pocket money is concerned and developing a sense of responsibility. In many countries, teenagers earn quite a bit of money by offering to babysit on weekends or for a couple of hours in the afternoon.
Ask your parents about joining a car boot sale, rummage sale, or posting items on eBay or another online auction site is another good way to earn some extra money. While you are earning money, you are helping the family to clear the clutter in the house. Make sure whatever you take to the sale is really not wanted by family members or you might end up poorer and burn a hole in your pocket.
Allowing teenagers to earn pocket money benefits both parents and teenagers. The latter learn to value money as they have to work hard to earn it. They learn to be independent and may appreciate their parents as the breadwinners. They also learn the importance of being responsible for their work, either at school or part-time work. The former or parents will realize that teenagers need their space to mature with confidence.
Whether parents should allow teenagers to earn pocket money depends on the family circumstances. Pocket money can be the bane of any teenager’s existence. No matter how much you get, it never seems enough. Of course, this is the point of pocket money, to teach you to budget and save and become responsible for your purchases. Prove to your parents that you are equal to the task and you just might be pleasantly surprised by the results!