The Concept of Pocket Money
Pocket Money is a concept that has been around for decades. It refers to a small amount of money that parents give to their children on a regular basis, usually weekly or monthly. The amount of Pocket Money may vary depending on the family’s financial situation and the child’s age. It is meant to teach children about financial responsibility and give them a sense of independence.
The Average Pocket Money in India Per Month
In India, the average amount of Pocket Money given to children ranges from 500 to 1000 rupees per month. However, this may differ from household to household. Some parents may give more, while others may give less. It is also dependent on the child’s age as older children are expected to be more financially responsible and may receive a higher amount.
The Problems with Giving Pocket Money
While the concept of Pocket Money may seem harmless, there are several reasons why children should not be given Pocket Money.
It Often Leads to Spoiling
When children are given Pocket Money, they may feel entitled and expect to get whatever they want with that money. This can lead to them becoming spoiled and not valuing money as they should. They may start to demand more and more Pocket Money, which can put a strain on the family’s finances.
It Can Create a Sense of Dependence
When children receive Pocket Money regularly, they may become dependent on it and start to rely on their parents for every little expense. This can create a lack of financial independence and responsibility in the long run.
It May Lead to Unnecessary Purchases
Children may not yet understand the value of money and may spend their Pocket Money on unnecessary items. This can lead to them not learning how to prioritize their expenses and save money for more important things.
It Can Be Misused
Giving children Pocket Money may also lead to them engaging in activities that their parents may not approve of, such as buying unhealthy snacks or even drugs if they come in contact with the wrong crowd.
Online Money Earning Without Investment for Students
With the rise of the internet and technology, there are now various ways for students to earn money online without any investment. Here are some options:
Freelancing
Students can use their skills, such as writing, graphic design, or coding, to do freelance work for clients all over the world. They can create profiles on freelancing websites and bid on projects to earn money.
Online Tutoring
Students who excel in a certain subject can offer online tutoring services to other students in exchange for a fee. This allows them to share their knowledge and earn money at the same time.
Online Surveys
There are many websites that pay people to participate in online surveys. While the pay may not be significant, it can still be a good way for students to earn some Pocket Money in their free time.
Social Media Influencing
Students with a good social media following can earn money through sponsored posts and collaborations with brands. They can also monetize their content through platforms like YouTube.
Online Earning Money App
There are also various apps available that allow students to earn money online through simple tasks and activities. Some popular ones include:
Swagbucks
This app rewards users for completing surveys, watching videos, playing games, and shopping online. These points can then be redeemed for gift cards or cash.
Taskbucks
Users can earn money by completing simple tasks, such as downloading and trying out new apps or referring the app to friends and family.
Google Opinion Rewards
This app pays users to complete short surveys. The money earned can then be used to make purchases on Google Play Store.
ZOOMBucks
This app rewards users for completing surveys, watching videos, and even for just logging in daily. The points can be redeemed for gift cards or cash through PayPal.
Conclusion
While Pocket Money may seem like a good way to teach children about financial responsibility, it can also have negative effects. As parents, it is important to find a balance and not rely solely on Pocket Money to teach children about money management. Instead, opportunities for online earning without investment can be explored to encourage financial independence and responsibility in children.
