Introduction
As an 18-year-old, you may feel like you have more freedom and independence than ever before. And with that freedom comes the responsibility of managing your own finances. One of the key aspects of this is Pocket Money – the amount of money that you receive regularly from your parents or guardians for your personal expenses. However, with the rise of technology, the concept of Pocket Money has evolved, and many students are now turning to online methods of earning money. In this article, we will explore how much Pocket Money is given to 18-year-olds, particularly in India, and the various ways of earning money online for students.
How Much Pocket Money for an 18-Year-Old?
The amount of Pocket Money that an 18-year-old receives can vary depending on various factors, such as location, family income, and personal choices. In India, the average Pocket Money given to an 18-year-old ranges from Rs. 1000 to Rs. 5000 per month. This may seem like a wide range, but it ultimately depends on the financial situation and preferences of the family.
For instance, if you come from a low-income family, you may receive a smaller amount of Pocket Money as your family may have limited resources. On the other hand, if your family has a higher income, you may receive a larger amount as your family can afford it. Additionally, some families may have a set amount for Pocket Money, while others may adjust it based on their child’s needs and expenses.
Moreover, your personal choices and lifestyle can also impact the amount of Pocket Money you receive. If you have expensive hobbies or regularly go out with friends, your parents may give you more Pocket Money to cover these expenses. However, if you prefer to save or have more modest expenses, you may receive a smaller amount of Pocket Money.
The Average Pocket Money for 18-Year-Olds in India
To gain a better understanding of the average Pocket Money given to 18-year-olds in India, let’s take a look at some statistics. According to a 2020 survey by Ipsos, the average monthly Pocket Money given to 18-year-olds across India was around Rs. 2862. This is slightly lower than the average Pocket Money for 16-year-olds, which was around Rs. 3033 per month. This can be attributed to 18-year-olds having the option to work part-time and earn their own money.
Moreover, the survey also found that the amount of Pocket Money increased with age, with 18-year-olds receiving around 12% more than 16-year-olds. Additionally, the survey also showed that boys tend to receive a slightly higher amount of Pocket Money than girls.
It is worth mentioning that these are just averages, and the actual amount of Pocket Money given to an 18-year-old can vary significantly. Some families may provide a higher or lower amount than the average based on their personal preferences and financial situation.
Online Money Earning Apps for Students
The internet has opened up endless opportunities for students to earn money online. With the rise of smartphones and mobile apps, students can now earn money from the comfort of their own homes through various online money earning apps. These apps offer a range of tasks, from filling out surveys to completing small gigs, and pay users for their time and effort.
One of the most popular apps in this segment is Swagbucks, which rewards users for completing various tasks such as surveys, watching videos, and playing games. Similarly, apps like Toluna, Survey Junkie, and iPoll also offer paid surveys and other tasks for students to earn money in their free time. The key to earning a decent amount of money through these apps is to be consistent and choose tasks that align with your interests.
Another popular way of earning money through online apps is by participating in referral programs. For instance, apps like Meesho and GlowRoad allow you to earn a commission by referring their products to your friends and family. If you have a large network and influence online, you can make a considerable amount of money through these referral programs.
Lastly, many students also earn money through freelance work, such as writing, designing, coding, and virtual assistant tasks. Platforms like Fiverr, Upwork, and Freelancer offer a wide range of freelancing opportunities for students to explore and earn money from.
Ways of Earning Money Online
Besides online money earning apps, there are several other ways in which students can earn money online. These include:
- Content creation: If you have a flair for writing, you can start a blog or a YouTube channel and monetize your content through ads, sponsorships, and affiliate marketing.
- Social media management: Many businesses and individuals are looking for people to manage their social media accounts, and this can be a great source of income for students with excellent social media skills.
- Online tutoring: If you excel in a particular subject or language, you can offer online tutoring services to students and earn a decent amount of money.
- E-commerce: You can also set up an online store and sell products, such as handmade items, digital products, or even dropship products from other sellers.
The best part of earning money online is that you have the freedom to choose what you want to do and when you want to do it. This can be a great way for 18-year-olds to earn some extra Pocket Money without compromising their studies.
In Conclusion
Pocket Money is an essential aspect of your financial management that you will have to learn to handle as an 18-year-old. While the amount of Pocket Money given to you by your parents may vary, it is essential to remember that managing this money responsibly is crucial. Additionally, online money earning apps and other ways of earning money online can be a great way for students to earn some extra cash and gain valuable skills. With the right approach and dedication, you can achieve financial independence and build a strong foundation for your future.
