You are worried over the issue of your child’s pocket-money

Mayank, in the ninth standard, has been very restless, disobedient and

argumentative from his very childhood. Moreover, his stealing habit makes

his parents more aggressive, rather than worried. Despite being the son of

a rich father he hardly gets pocket money. As a result, he started stealing

money whenever he got the chance. His parents started treating him like a

real thief. Their abusive language and corporal punishment made their son

more rigid. He began taking revenge on his parents by being more adamant

and destructive. He formed a tendency to run away from home and spend

the night with his friends of the same mindset. His stealing tendency got so

aggravated that he ended up by being a real thief, in terms of stealing and

forcing his parents to hand over money to him as much as he required. Now

he is nineteen years old and he spends most of his time with his friends either

in a club or recreation centre, and testing his fate in gambling and betting.

Now he needs money for fulfilling his destructive needs.

36 How Your Personality Makes or Breaks Your Child

Teach your child the value of money.

Many parents do not realise that spending money is one of the major

social needs of a human being and it is normal for their child to develop and

express a burgeoning curiosity in financial matters. So parents should accept

this fact and try to satisfy their child’s curiosity. They should teach him how

to handle money. They must keep this in mind: the sooner the better! They

should give up the erroneous notion: it is too early to teach the child about

money matters

The best way to teach your child economics and finance is to spend

money through him. Educating children about money teaches them how to

be immune to the lure of money.

It is very much advisable to provide the child with certain small

responsibilities related to the handling of money, for example, letting him

pay the fare, pay the staff etc. Money in his hands makes him a confident

and trustworthy child and increases his mental skills and sense of social

responsibility as well. It also subsides the greed for money.

Here is an example of happy and proud parents.

Meghna has such parents as who are not only educated but also have a

broad and sensible outlook towards life. They used to give their daughter

some amount of money whenever they went on trips and encouraged her to

pay for everything, e.g., for shopping bills and fares and also pay for other

commodities right from when she was six years old. They decided to give

her some pocket money when she was ten. They made it a point for her

to spend it as she liked, but her small necessities like pencil, eraser, etc.,

were also included in that expenditure. When she grew up they increased the

amount of money by inclusion of her mobile charges, internet services and

so on. If she exceeded the fixed amount, it was going to be her own problem

because the extra amount would be deducted from the following month’s

pocket money; thereby, she slowly developed the sense of responsibility and

learnt the true value of money.

In fact, a child who starts handling money earlier has not much curiosity

and does not have greed towards money. But the deprived child, who faces

problems and pressure due to money, develops lots of behavioural problems,

like stealing, lying, aggression, or nurturing a revengeful attitude.

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