As a young child of my family, I think giving an allowance is something many families should consider about. Because I personally think that it's a good idea but only if it is being handled in a right way. As we all know children already are having their basic needs such as clothes, foods or education expenses, even living under their parents’ roof, so basically everything is already covered.
But it's the responsibility of a parent because they choose to become one and the child didn't get to choose if he wants to come into this world. Anyway, apart from that I feel at least a small amount of money should be given to the children so that they can learn important life skills.
I am still young and not a parent yet, but from my point of view I don't think of allowance as an “extra money” because I see it as a learning tool. Like when I was a kid I barely knew what money was and I didn't recognise the worth of money. So, if a fixed amount of money is regularly given to a child, they will slowly understand the value of money.
Well, if you ask me what will they learn? I'll say they are gonna acknowledge that money is limited and after spending it, it's not coming back unless he earns it. This helps them think before buying things instead demanding everything from their parents.
When I got in my teenage era, I remember how excited I always felt for the little pocket money given to me by my mom. Of course I had to do task and after that I would receive money as rewards. And I didn’t receive a formal allowance every week, but whatever I would get I always stayed careful before spending it. Because in the beginning I used to spend it very quickly for snacks and later felt regrets, because I couldn’t buy the actual thing I really wanted to have. After making multiple mistakes it taught me a lot about saving and making better choices.
That’s why I don’t think giving kids an allowance is a stretch at all. Parents are already providing which are their responsibility, but an allowance is a different thing because this will teach these kids some responsibility. In a way the constant requests will stop from children, like they won't be asking their parents "Can you buy me that? buy me this please?" If they are getting money they will save up for it and then use their own money, start buying by their own.
To be noted, if the allowance is given in a wrong way, it will make a big difference. If it's free money like "Here you go your pocket money," then it's considered free money. There should be some sort of guidance. Like parents are supposed to teach the kids how to do budgets and save money. Like teaching them that half of the money should be spent for necessary things and the other half should be saved. So they should be encouraged to divide their money into two parts. This is gonna help them grow good habits at an early age.
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