Earn and Manage: The Importance of Pocket Money
Pocket Money, also known as allowance or spending money, is a small amount of money given to a child by their parents on a regular basis. It serves as a means for children to learn about financial responsibility and managing their own money. It also gives them a sense of independence and teaches them the value of money. But how much Pocket Money should a 13-year-old get in India, and what are some ways for them to earn money on their own?
The Right Amount: How Much Pocket Money Should a 13-Year-Old Get in India?
In India, the amount of Pocket Money given to children varies depending on their family’s financial situation and the cost of living in their city. According to a survey conducted by the Times of India, an average 13-year-old in India receives around 200 to 500 rupees per month as Pocket Money. This amount may seem small compared to other countries, but it is more than enough for children to learn about budgeting and saving.
However, parents should also consider their child’s needs and expenses when deciding on the amount of Pocket Money to give. For example, if a child has to travel a long distance to school, they might need more money for transportation. Children who are attending schools with a higher standard of living may also require a slightly larger allowance. It is important for parents to have an open discussion with their children about their needs and come up with a reasonable amount together.
Earn it: Online Apps for Earning Money
In today’s digital age, there are many opportunities for children to earn money online. These online apps are not only fun and engaging but also teach valuable skills such as time management, teamwork, and money management. Here are some popular apps that can help 13-year-olds earn money:
1. Fiverr: Fiverr is an online platform that allows individuals to offer their skills and services to potential clients. 13-year-olds can create accounts and offer services like graphic design, video editing, or social media management, to name a few. The minimum age to create an account on Fiverr is 13, making it a great option for teens to start earning money.
2. Swagbucks: Swagbucks is a popular app that rewards users for completing simple tasks like taking surveys, watching videos, and playing games. 13-year-olds can join and earn points by completing these tasks, which can later be redeemed for money or gift cards.
3. TaskRabbit: TaskRabbit is an app that connects people who need help with tasks like cleaning, moving, or shopping, to people who are willing to do the job. 13-year-olds can use this app to earn money by offering their services for jobs in their local community.
4. Babysitting: Babysitting is a popular choice for teenagers to earn money. There are many online babysitting platforms like Care.com and Sittercity, where 13-year-olds can register and connect with families looking for babysitters in their area.
Earning Without Investment: Money-Making Ideas for Teens
Aside from online apps, there are also ways for 13-year-olds to earn money without having to invest their own capital. Here are some ideas that teens can explore:
1. Sell handmade items: If a child has a creative side, they can make handmade items such as jewelry, paintings, or home decor and sell them online or at local craft fairs. This not only allows them to earn money but also helps them learn about entrepreneurship and marketing.
2. Pet-sitting or dog walking: Many pet owners are in need of pet care services, making this a viable option for teenagers to earn money. 13-year-olds can offer their services as pet sitters or dog walkers in their neighborhood for a fee.
3. Yard work or house-sitting: Similar to pet-sitting, 13-year-olds can offer their services for yard work or house-sitting to their neighbors. This is a great way for them to earn money while helping out their community.
4. Tutoring: If a 13-year-old excels in a particular subject, they can offer their services as a tutor to younger students. Parents are always looking for tutors for their children, and this can be a lucrative opportunity for teenagers to earn money.
In Conclusion
Pocket Money serves as a valuable tool for 13-year-olds to learn about financial responsibility and independence. It is important for parents to have open discussions with their children about their needs and expenses when deciding the amount of Pocket Money to give. Additionally, online apps and other money-making ideas can help teenagers earn money and learn valuable skills at the same time. With the right guidance and encouragement, Pocket Money can be a great way for 13-year-olds to start their journey towards financial responsibility.
