Introduction
Pocket Money is a small amount of money that is given to a child by their parents or guardians for their personal use. It can be seen as a way for children to learn financial responsibility and how to budget their expenses. As children grow older, the amount of Pocket Money they receive may also increase. In this article, we will discuss the importance of giving Pocket Money to 12-year-olds and how much they should receive.
How Much Pocket Money for a 12-Year-Old?
One of the most common questions parents have is how much Pocket Money they should give to their 12-year-olds. The truth is, there is no exact amount that is recommended as it may vary depending on your family’s financial situation and your child’s needs. However, experts suggest that parents should consider giving their 12-year-olds an amount that is a reflection of the expenses they will have to cover, whether it’s for transportation, school supplies, or personal leisure.
According to a survey conducted by The Telegraph, the average Pocket Money for a 12-year-old in the UK is £6.20 per week. Another study by RoosterMoney shows that the average amount of Pocket Money for a 12-year-old in the US is $9.80 per week. However, these are just averages, and it’s up to you as a parent to determine the right amount for your child.
Every Teen Should Be Given Pocket Money Essay
Giving Pocket Money to teenagers is not just about teaching them about money management. It also has other benefits that can help them in their development. Here are some reasons why every teen should be given Pocket Money:
- Learn financial responsibility: By giving your teen Pocket Money, you are teaching them to be responsible for their own expenses. They will learn how to budget their money and make decisions on what they can or cannot afford.
- Build decision-making skills: With their own money, teenagers can make decisions on how they want to spend it. They will have to think carefully about their expenses, which can develop their decision-making skills.
- Gain independence: Giving Pocket Money also gives teens a sense of independence. They can choose what to buy with their own money without having to rely on their parents for every expense.
- Set financial goals: When teenagers have their own money, they can also start setting financial goals, whether it’s saving up for a big purchase or learning how to invest their money.
- Learn the value of money: By earning their own money, teenagers will understand the value of money and how hard it is to earn it. This can lead to a better understanding and appreciation of their parents’ hard work.
Online Money Earning Work from Home
In today’s digital age, teenagers have access to various online opportunities to earn money from home. This can be a good way to supplement their Pocket Money or even save up for their future expenses. Here are some ways for teenagers to earn money online:
- Freelancing: Teenagers can offer their skills and services such as graphic design, writing, or social media management on freelance websites like Fiverr or Upwork.
- Taking online surveys: There are many websites that pay users to take surveys. This can be a quick and easy way for teenagers to earn some Pocket Money.
- Selling crafts: If your teenager is creative, they can sell their handmade crafts on platforms like Etsy or at local markets.
- Virtual tutoring: If your teen excels in a particular subject, they can offer virtual tutoring services to younger students.
- Creating content: Teenagers can also earn money by creating content on platforms like YouTube or Twitch. This can be in the form of vlogs, gaming videos, or tutorials.
Best Online Money Earning Games
Online games have become a popular source of entertainment for teenagers. But did you know that there are also games that can help them earn money? Here are some of the best online money earning games:
- InboxDollars: This game allows players to earn money by playing games, taking surveys, and watching videos. The earnings can then be redeemed for gift cards or cash.
- Second Life: This online virtual world allows players to earn real money by buying and selling virtual properties, designing items, and more.
- Swagbucks: Similar to InboxDollars, this game also rewards players for completing various tasks like watching videos, playing games, and taking surveys.
- RuneScape: This popular online game has a feature called Bonds, where players can sell in-game items for real money.
- Dream11: Sports fans can use their knowledge of the game to create their own fantasy teams and earn money based on their team’s performance.
Conclusion
Pocket Money is an essential tool in teaching teenagers about financial responsibility and decision-making. While there is no specific amount of Pocket Money that should be given to a 12-year-old, parents should consider the expenses their child will have to cover and their overall financial situation. By giving teenagers Pocket Money, they can also explore various opportunities to earn money online, which can help them develop valuable skills and prepare for their future financial goals.
