The concept of giving kids allowances has never been a popular practice in most African countries, and the reason for this is often justifiable because of economic status and family beliefs. Where I grew up, it was mandatory for parents to do everything legal within their power to provide the basic needs for their kids. But the idea of an allowance was rarely welcomed, as it was a common belief that the kids didn’t need any of it when their parents already provided everything.
Many parents in my vicinity also believed that giving their children an allowance would make them have less control over their financial decisions, which in some sense is true because kids can be very spoilt about material things. At their developmental stages, they care more about the fanciest things and spend money on all that may be considered vanity. They’re always interested in buying anything that appeals to them without caring about usefulness, and the reason for this is simply their lack of understanding of what it takes to work and earn money.
In my home, my parents never gave us any allowance. However, we were given pocket monies at different points. I was given much more because I attended a boarding school, and it was important that I always had some cash in hand, regardless of my parents buying the things I needed.
I do consider this a privilege because as much as I can admit that I spent a portion of what I was given on things that didn’t matter, it also taught me how to save. I had a little savings box that I put a part of my pocket money in, and sometimes when we were asked to pay a small fee at school, I would use the money I had saved instead of bothering my parents.
Many people had thought that me receiving money from my parents would make me overly dependent on them, but it did the opposite. I became a little independent at a young age because I had learned that having some savings would bail me out of tough situations without asking others for help. This mindset encouraged me to pick up skills early on so I could earn and have my own savings, if my pocket money ever stopped coming. This experience is the reason I will always be in support of parents giving their children an allowance. However, I think certain things should be put in place before it becomes a habit.
Firstly, I suggest that parents begin to show their financial discipline early on before they become teenagers. That way, they get to internalize what they see and apply it in little ways as they grow up. Secondly, before the kids are placed on any allowance, they should be given some form of financial education and advised against recklessness. This should be accompanied with expectations from them. E.g., 'We will start and continue your allowance if you maintain good grades at school, and we reserve the right to discontinue it if you perform poorly.'
This way, the kids get to understand how the reward system works, and it changes the way they view money. When they also realize that they are expected to spend their allowance on some useful things their parents would ordinarily buy if they were placed on zero allowance, they begin to lose their sense of entitlement and place more value on money.
I also think that the kids should be accountable to their parents at the end of every week or month. This will help their parents assess whether or not they are indeed making progress with their financial priorities. In conclusion, when allowance is rightly used as a tool for financial education for kids, it can reinforce positive habits and motivation for work. So, I strongly beleive in parents giving their children allowances to help them become financially responsible adults.
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