Introduction
As parents, we always want what’s best for our children. One of the things that we often debate about is how much Pocket Money to give them. Pocket Money is an essential tool in teaching kids about financial management, responsibility, and independence. In this article, we will delve into the average Pocket Money in India per month, as well as explore Pocket Money apps and websites that can help kids learn about online earning and money management.
What is Pocket Money?
Pocket Money refers to the allowance given by parents to their children on a regular basis. It is usually a fixed amount of money that kids can spend as they please. The amount of Pocket Money varies from family to family and depends on the child’s age, financial status of the parents, and the child’s needs and wants. However, parents should not use Pocket Money as a form of bribery or reward for good behavior, as this defeats the purpose of teaching the child about financial management.
The Average Pocket Money in India per Month
The average amount of Pocket Money given to children in India varies greatly, depending on the socioeconomic background of the family and the child’s age. According to a survey conducted by Ipsos, Indian parents give an average of INR 500 to 1000 per month to children aged 6 to 12 years old, and INR 1000 to 3000 per month to children aged 13 to 18 years old. However, these amounts are not set in stone, and some parents may give more or less depending on their personal preferences.
It is essential for parents to strike a balance when giving Pocket Money to their kids. Giving too much Pocket Money can spoil the child and make them dependent on their parents for money. On the other hand, giving too little may deprive the child of learning how to manage money effectively. Parents should also consider the child’s needs and wants when deciding on the amount of Pocket Money to give.
Pocket Money App Download
In this digital age, many parents are turning to technology to help teach their children about financial management. One way to do this is through Pocket Money apps. These apps can track and manage the child’s Pocket Money, making it more convenient and efficient for both parents and the child. Parents can easily monitor where their child is spending the money, and kids can learn to budget and save through these apps.
Some popular Pocket Money apps in India include ZedMonk, Kidspocketmoney, and My Piggy Bank. These apps allow parents to set tasks and chores for their kids to earn Pocket Money, track their spending, and even restrict certain purchases. Kids can also set savings goals and learn about financial planning through these apps.
Online Money Earning Apps and Websites
Aside from Pocket Money apps, there are also online earning money apps and websites that parents can introduce to their children to teach them about earning money. These platforms offer various ways for children to earn money, such as completing surveys, testing websites, or participating in online games.
Some popular online earning money apps and websites in India include Swagbucks, Toluna, and CashKaro. These platforms offer easy and fun ways for kids to earn money, and parents can supervise and guide their children in using these apps to ensure their safety.
Conclusion
Pocket Money is not just about giving children money, but it’s also about teaching them about financial responsibility and independence. It is essential for parents to find the right balance in giving Pocket Money to their kids and utilize technology to teach them about money management. By doing so, we are not just preparing our children for the future, but we are also giving them valuable life skills that they can carry with them throughout their lives.
So, as parents, let’s not underestimate the power of Pocket Money and utilize it as a tool to raise financially responsible and independent individuals.
