This is addition to what is being provided at Home by way of Food, Shelter Clothing, Study expenses and in fact covers everything.
This concept is a new one, since about fifteen years,;even then, it was not followed as it is being done now.
We were provided every thing by the parents at Home(about 50 years back) and I did not even know what to ask.
I used accept what was given by my father.
Even School textbooks were not asked for.
If I needed something, which was rare, at times I used to ask my mother and what I wanted was provided, but never Money.
Today, we find Pocket Money is being demanded as a matter of Right by the children and parents also consider this as a part of a Child growing into an adult!
It sounds funny.
Why does a child require Money and why do parents encourage it?
One point is that the peer Pressure exerted on the Parents by the other parents on the one hand and , on the other,the pressure exerted by the child’s friends.
Many parents resort to this practice to show their status,also to assuage their guilt feeling of not being with the child as much as they would like because of the fact that both Husband and wife are employed.
They think they are compensating this by giving money to children.
At a relatively young age, say up to 10 years, if you bring up the child properly. the child would not ask for Pocket Money and what it needs is the fact that the Father/Mother personally bought something for him
Once you allow the child the taste of money, it never leaves.
The child develops a taste for things which it can not afford and assumes that the Money is there merely for the asking.
When you have money, one tends to spend on things one does not need, this applies more to Adults,look at your credit card purchase-s you would have bought things which you would otherwise have not bought if you hard currency ;such being the case, imagine a child!
When the child has more money it tends to develop bad habits like Smoking< Drinking and begin to use drugs.