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In a Perfect World, The Answer is YesJun 21 '01 Write an essay on this topic.
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The Bottom Line Allowances help teach children about money management. The sad truth is, sometimes life teaches them better.
If life were perfect, my answer to the question of whether or not to give a child an allowance would be an emphatic YES. Allowances allow children to learn about budgets and responsibility. In addition, they allow children to splurge a little on themselves, which is something I believe everybody needs to do now and then. But life isn’t perfect. Sometimes, allowances aren’t possible. It’s a sad truth that many American families live on the financial edge. Living from paycheck to paycheck, every penny counts. I grew up in a middle-class American household. My father worked, my mother stayed home, and all the bills were paid on time. I was given an allowance every two weeks when my father received his paycheck. My father’s goal was to teach me to manage my money and to live on a budget. He took care of all my necessities and even school activities. However, if I wanted to buy gifts for my friends and family, or if I wanted to buy extras, it had to come out of my allowance. I honestly can’t say that the allowance system did me much good. I have a very bad case of “instant-gratificationitis”. Consequently, I am not above spending money that I don’t have for things that I don’t need. However, don’t let my failures dissuade you. Experts agree that allowances are valuable tools in teaching children about money. I try to give my children an allowance. I honestly do. I believe in the ideals of an allowance, plus I like my children to have mad money to spend as they see fit. However, sometimes life conspires against the allowance system. There was a time in my life when I was so poor that I wasn’t sure where our next meal was coming from. Luckily, those days were when my children were very small and had no need for an allowance. However, it took years for me to climb totally out of poverty, and even now we have some shaky times. Not having a solid financial foundation affects all of us. We all have to tighten our belts. My children have learned that when the family has extra money, then they get extra money as well. It is a hard lesson, but they are learning from my mistakes. For a long time, I felt extremely guilty over the fact that I couldn’t give my children a steady allowance every week. Allowances are supposed to teach children about money management. In essence, my children were getting laid off with no unemployment insurance every time my finances were tight. Gradually, I came to understand something. Although allowances are a way to teach children about money, the lack of one was just as valuable a lesson. I have seen my children accept tough financial situations with grace and dignity. They have learned to pull together as a family in hard times, and that is a lesson an allowance could never teach. I know I am not the only parent who has ever lived on the financial edge. I also know that I am not the only parent to feel guilty for not being able to give my children an allowance that would allow them to keep up with pre-teen Joneses. My advice to you if you find yourself in this situation is this: ditch the guilt. Not having an allowance will not make your children financially crippled adults. Not having an allowance won’t ruin their entire childhood. When you can afford to give an allowance, do so. When you can’t help your child to understand the financial limitations of the real world. In an ideal world, I believe every child should have an allowance. However, if your world is less than ideal, your child will still learn how to manage money. Their lesson will just be harder than other childrens’.  |
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