What does the term pocket money mean? It means money that is put into your pocket for you to spend. Pocket money is usually given to a child by his or her pocket.
Why is pocket money given to a child? Does it do the child good or cause more harm? When pocket money is given, the child will learn to be more independent. The child will lean how to manage his money wisely, spending on what's necessary and saving the rest for a rainy day. It will also instill good saving habits that will help the child in future.
By having pocket money, the child will have more choices. It will give the child choices. The child will learn how to sacrifice some items for another item he desires. He would also afford little little treats like going out for supper with friends or hanging out for just a game of bowling.
But having pocket money has its cons too. Sometimes, giving a child too much will encourage overspending. The child would be forever in debt and this would affect him into his adult life as he would have picked up the bad habit.
Having picket money has its pros and cons. The user determines whether pocket money is good or bad.