Jun 27, 2010

Parenting Vs Pocket Money


I’ve just read an interesting article in TOI on parenting the children to make them understand the importance of savings out of the pocket money they figure out every time. Well, I can not debate the fact that parenting has become a tougher job these days where the kids have got their own desires from what to wear to where they want to holiday. Nothing can justify this more than the changing times and lifestyles of human race.


When I was a kid I never knew about this pocket-money jargon. Whenever I wanted money I would ask my parents. This apart, my grand parents used to give me some rupees to keep my kitty full most of the time. I still remember the kid in me who always wondered what should be done with the money she was given.


Times change, people change, things change, resulting in an eventual change of parenting. The article says- if you make your kid think that he/she will have to adjust everything with in the pocket money, a rebellious attitude develops. I wonder where the same rebelliousness was hidden in earlier generations! Truth is to be accepted, no matter how boring or stunning. These days’ children have got this kind of rebellious attitude as an inherent quality. It is up to the parents how they address the same and how they care to keep their kids normal.


Short-term savings play an important role in building the consciousness for the desire of long term savings. Of course, every penny needs to be accounted for the kid’s own will and wish. Every kid shall be exposed to the joy of saving and getting benefited out of the same. This attitude not only builds the discipline in money management, as I believe this way of parenting will have it’s own impact on many other mature psychic actions of the child as he grows older.


The way the parents save or spend the money has huge to do with the qualities that the kid adapt time to time. If the same continues and if the kid starts challenging the parents for what they are and for what they reject the child to do, no answer can be suitable to get the child normal yet again.


PS: This topic is out of the box for the age group I belong to. This is just a hit at the parenting. Please let me know how do you feel.

22 comments:

Sourav C. Pandey said...

Hey Pramoda. Good to read your comment back there on my blog, how have you been?

And yes I have read the same article on TOI today! If I remember my pre-teen years, I do remember pocket money, which was around Rs.5 per day! Ohh and am not so old, I am just 26 now! :P

I somehow favor the system of pocket money, kids get to understand the meaning of saving and the ratio of how they should distribute their expenses from an early age.

And yes times have changed! Nice post. :)

Swapna Raghu Sanand said...

Good, relevant post, Pramoda. I loved the way you expressed your feelings on the issue. As a parent, I face the dilemma of deciding whether its right to give pocket money or not simply because I see so many young kids misusing it and I just don't want to see my kid doing the same.

Also, like you mentioned, I too never knew the concept of having pocket money. Whatever was required, parents provided it and so much more. There was no McDonalds for me to splurge on or designer brands. Ask me what designer brands I had and I'd look like a country bumpkin coz I had a very happy, simple and down to earth childhood, which is not the case for most kids today.

Your post got me thinking seriously about this issue once again and I agree with what you are saying. A lot of this has to do with parents and their values and the legacy that they want to leave behind in this world.

Do keep writing on these important issues.

Best, Swapna

sleeping beauty said...

ya my first pocket money was 5Rs at the age of 7 and it had build my confidence in using money and subtraction and addition .well written .

welcome to my world of poetry said...

one of my grandsons'is very good at saving, the other three grandchildren are not, Harry the one who saves is very good, he will save up and buy anything he requires. His mother and father taught him the values of money, where as my other three are brought up by their mother (divorced parents) so don't really know those values, such a shame,

Yvonne.

Joseph Pulikotil said...

Hi Pramoda:)

Very interesting and useful post.

It is important to inculcate the habit of savings in children. A spendthrift child will blow up all the money and ask for more.They have no value for money.Such children will grow up without understanding the importance of money and they will regret later when they are old.

I was one such child. I did not understand the importance of money. When I got a job, my elderly supervisor advised me to save money but I laughed at him. Now I understand the importance of having good savings. But it is too late. My active and productive years are almost over and therefore I will never be able to save much. This much for myself.

So if children get into the habit of saving, they will have a better life when they are old.

Best wishes Pramoda:)
Joseph

Ellen said...

It is smart parenting to teach children at an early age about responsibility, accountability, and smart management of money. They're never too young to learn stuff like that. It will surely serve them in good stead when they join the adult world someday soon.

God bless you, Pram. :-)

Creativity!! said...

Very Well Said Dear :) :)

A New Beginning said...

So very true Pramoda, thats a veryimp thing that one needs to keep in mind!Thanks for sharing such a thought provoking post!!:)

Ria said...

Ha ha i dont understand the concept of pocket money anyways coz when i was a kid i used to ask whatever i needed and got tht too. So no concept of getting a specific amt every month n stuff.

The Holy Lama said...

Pocket money is a problem. Money should be given to kids only for needs we know about. Else, its risky.

Being Pramoda... said...

Hi SOurav, nice to see u back here...:)

**I somehow favor the system of pocket money, kids get to understand the meaning of saving and the ratio of how they should distribute their expenses from an early age.

yeah.. that holds a good point..:) Thanks for sharing this..:)

Being Pramoda... said...

Hi Swapna, Many thanks ..:) YEah..that makes much sense..

**A lot of this has to do with parents and their values and the legacy that they want to leave behind in this world.

Thats so fantastic..thanks fr sharing..

Being Pramoda... said...

HI SLeeping beauty, thats soo positive approach..:) good and thank you.

Being Pramoda... said...

Hi Yvonne...so sad to know that...any ways, good life to the children..thanks fr sharing..

Being Pramoda... said...

HI Joseph..

Thanks fr being here and nice to see u..

**I did not understand the importance of money. When I got a job, my elderly supervisor advised me to save money but I laughed at him. Now I understand the importance of having good savings.

Thank you so much fr sharing this; so much to learn..:)

Being Pramoda... said...

Hi Ellen, accountability and money management are two important strategies that every child shall be taught of..:) thanks.

Being Pramoda... said...

HI Sahana, thanks so much!

Being Pramoda... said...

New Beginning,hey..well said.. thank you so much..:)

Being Pramoda... said...

Hi Ria,

yeah..as I told mine is also same situation..:)

Have nice time..:)

Being Pramoda... said...

Hi Lama,

yeah..good to hear that..:) Thank yu.

Saumya said...

"I wonder where the same rebelliousness was hidden in earlier generations! "...rightly said...things are really becoming complex these days.

Being Pramoda... said...

Hi Saumya, nice to see you here and thanks so much..:)