FINANCIAL MANAGEMENT AMONG CHILDREN

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Special thanks to the management for this wonderful prompt and I'm glad to share my view on this timely topic. I think this is the matter that many are battling with in their families. Having a balanced perspective would go a long way.

Giving children allowances is not bad depending on the intentions of the parents and what you intend to achieve at the end of the day. God created us with different ideas therefore there are always reasons why we normally do things especially when it comes to parenthood where every parent have a desire for his ward.

Putting children on allowance is not bad when it's done carefully because it would be a very good strategy and template in inculcating the right values in the life of the child. It's a tool for teaching how to be responsible and carry out financial duties. In this post, I will like to share some reasons why a child is placed on an allowance and why is not and at the end is to establish a balance.

There is a common saying that goes when a purpose of a thing is not known abuse is inevitable. This statement is not far fetched from what I want to say concerning this theme. In whatever we do in life understanding the purpose of a thing is very important. Allowance shouldn't just be taken as an act of responsibility from the parent. I mean to say that it shouldn't be taken as a substitute for parental responsibility. Rather every parent should endeavor to do more than what the allowance could cover. For instance the clothing, meals, shelter, healthcare etc shouldn't be neglected because the child is under allowance instead it should be a tool for training the child on how to manage finances.

I could remember when I was in secondary school a particular father got virtually all his children engaged with the local government even though they were small. I don't know how he was able to penetrate through but at least something drops for the kids before they got to 18years. Allowance helps to shape the child's financial mindset on time. It helps to reduce the rate of financial dependency. It also helps a child to draw good decisions on how to use resources.

There is need for parents to bring balance if not the children may use that as a yardstick to compare themselves with other children. For instance a child will ask another how much did your father gave you as allowance? There might be sense of dissatisfaction after both shared how much they received from their parents. Therefore try to consider this. Guide them it not they may develop poor spending habit.

Conclusion
Placing children on an allowance is not bad—it is beneficial when used intentionally. It does not remove your responsibility as a parent; rather, it complements it by preparing your children for real-life financial decisions. The goal is not just to give money, but to raise wise, disciplined, and responsible individuals. When guided with love, structure, and clear values, allowance becomes a tool for growth rather than a source of harm.

Thanks so much for reading through.