P​OCKET MONEY IS BECOMING A MENACE FOR PARENTS THESE DAY​S

Reference: TOI Article, 22 Oct’19, Pg 2

By Ragini Bharadwaj

The concept of Pocket Money was introduced so as to keep a track of the amount of money
spent by children. But these days it has become more of a show-off thing, losing its purpose of
teaching value of money and expense management to kids. The more affluent school you
choose for your ward, the more heat you are going to feel in your pocket.

It was really shocking to read about the case of a school going boy spending Rs 1.5 lakh just
within one month from his father’s credit card. I wonder if these kids have any idea about the
worth of Rs 1.5 lakh, and the efforts needed to earn this much money. This scenario is not just
with boys, but it is the same with girls as well. Most of the money these school students spend
goes into impressing their friends and peers. These spendings include throwing parties,
shopping online, buying gifts for friends, buying the latest gadgets randomly, etc.

Even though the parents are facing troubles with such a high amount of money spent by their
wards, still many of them are not taking strict actions. There are some who do so in order to
avoid having conflict and argument with their child. But think for a moment that who else will
teach right and wrong to your child. Some are so blind in their love for their kid, that they are
ready to provide him with everything he asks for from them. I believe that rather than directly
fulfilling their demands, train them to be capable enough to sustain their needs by themselves.
At least, teach them the value of money and how much hard work and struggles it takes to earn
money.