Pocket Money is my Birthright!

 

'Pocket money is my birthright!' Yes, birthright. Our parents have provided us with a home, food, clothes, education and a lot of other things. They along with you, respected teachers are helping us learn the 'ABC's of this world so that we may grow into capable and responsible human beings. Let's face it, Money oils the wheels of the World - so the skills of money management is a large part of my education. Therefore I consider money as my birthright!!!

Our world is changing at a very rapid pace and this is bringing about new challenges for us as children so as to be able to survive and prosper in the coming and is successful financially and professionally. In the current information age, it is no longer enough to get good grades and find a safe secure job with benefits, and retire after thirty years. Today twenty year olds can become billionaires because of new opportunities and personal money management is the key to this success.

Getting pocket money is but a lesson in personal finance, which is included in the national curriculum at UK state schools, so as to ensure children are equipped to manage their money in the future. So we do not get Pocket Money, we want to know - WHY? Parents can best help their children acquainted with money by giving them the opportunity to use it. Many parents may be worried about giving their children control, but we need this I order to learn.

According to chartered psychologist Dr Carole Burgoyne, "Children quickly pick up on other people's value of money. They start to have a rudimentary idea of money by ages of five and by nine, most children have started to understand some concepts of saving, what banks are for and so on." She further discourages the introduction for payment for household chores, as they should help around the house because they are members of the family.

There are many advantages to providing us pocket money, some of which are:

Personally speaking, it gives me tremendous pleasure and satisfaction when I can buy gifts for my mother and sister with my money. It also provides me the means of helping the less fortunate, howsoever little, through donating to charity and has taught me compassion. Pocket money has taught me to balance my needs between parents, my friends and myself and most importantly has taught me something about banking.

With so much learning and help that I receive from my Pocket money it is invaluable. So as it is my right and duty to acquire all possible lessons to grow into a responsible citizen, I consider pocket money to be my birthright.