What is Pocket Money?
Pocket Money, also known as allowance or spending money, is a small amount of money provided to children or teenagers by their parents or guardians. It is intended to teach kids financial responsibility and help them develop good money habits from a young age. Pocket Money can be used for any expenses outside of basic necessities, such as school supplies, snacks, toys, or entertainment.
The Average Pocket Money in India
In India, the concept of Pocket Money differs from household to household and varies depending on factors such as financial status, location, and culture. According to a survey conducted by the Reserve Bank of India, the average Pocket Money for school-going children ranges from 100 to 500 rupees per month, with urban households providing a higher amount compared to rural households.
However, the amount of Pocket Money also increases as children grow older, with teenagers receiving an average of 1000 to 1500 rupees per month. This is due to their increasing needs and expenses, such as transportation costs, school trips, and hanging out with friends.
Pocket Money Jobs for Students
While parents are the main providers of Pocket Money, it is also essential for students to learn the value of hard work and earning money on their own. With the rise in the cost of living and the need for financial independence, many students are taking up part-time or weekend jobs to supplement their Pocket Money. Here are some Pocket Money jobs that students can take up:
- Babysitting – This is a popular job for teenagers, and it pays well too. Babysitters can earn around 100 to 200 rupees per hour.
- Tutoring – Students who excel in certain subjects can offer tutoring services to younger students in their neighborhood and earn extra cash.
- Delivery Services – With the increase in online shopping, there is a demand for delivery persons. Students can sign up for delivery jobs and earn commission on each delivery.
- Freelance Work – Many students possess skills such as writing, graphic designing, or coding that can be used for freelancing and earning money.
Online Money Earning for Students
In today’s digital age, there are numerous opportunities for students to earn money online without leaving their homes. These jobs not only provide additional Pocket Money but also improve students’ skills and knowledge. Let’s explore some ways students can earn money online:
- Make money through social media – Students can become influencers on social media platforms and earn money by promoting products and services.
- Take online surveys – Many companies pay students to take online surveys and give their opinions on various products and services.
- Offer virtual assistance – Students can offer their services as virtual assistants to professionals and business owners who require administrative support.
- Create and sell digital products – Students can use their talents to create digital products such as e-books, printables, or digital art and sell them online.
Online Earning for Students Without Investment
Many students may not have the resources or means to invest in online jobs or businesses. However, there are still ways for them to earn money online without any investment. These methods may require more effort and patience, but they can be equally rewarding. Here are some ways students can earn money online without investment:
- Start a blog – Students can share their thoughts, experiences, and knowledge on a particular topic by creating a blog and earn money through advertising, sponsored content, and affiliate marketing.
- Become a virtual tutor – With the rise in online learning, students can offer virtual tutoring services to students around the world and earn money without any investment.
- Participate in online competitions – Many websites and organizations host online contests and competitions with cash prizes, providing an opportunity for students to earn money through their skills or talents.
- Do freelancing gigs – Students can offer their services as freelancers on various platforms and earn money by completing tasks such as data entry, transcription, or virtual assisting.
In Conclusion
Pocket Money plays a crucial role in the financial growth and development of students in India. It provides them with a sense of responsibility and teaches them financial management from a young age. With the increasing cost of living and the need for financial independence, it is also essential for students to learn how to earn money through various means. Whether it is through traditional part-time jobs or online opportunities, students can use their skills, talents, and determination to earn money and achieve their goals.
