Advantages And Disadvantages Of Pocket Money Essay

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The power’s in their hands to make the decisions, and knowing they’ll have to wait until the next week or to save up in the long-term may make them think twice about their They have a regular flow of allowance and money to manage of their own, so won’t be pestering parents for money all the time – or at least in theory!

If it can’t wait until a holiday or birthday, let them know that they’ll need to use their pocket money to pay for it and to save if they don’t have enough yet.

This essay will elaborate on both positive and negative effects of this trend.

On the positive side, firstly, this movement makes perfect environmental sense.

With that in mind, let’s discuss the advantages and disadvantages of different payment options to help you decide what is best for your business. Checks have been around for probably longer than you think but lately are becoming somewhat of a dying form of payment.

The phrase, “Cash is King” has always been the rule of thumb, but even this King has weaknesses. With the technology boom of online banking & online bill pay, which have become a fast favorite for most people, written checks are becoming less and less common.Parent Circle have some great advice on Regular allowances aid kids in learning a key lesson on self-restraint that will help them in later life.Getting money of their own teaches them that if they spend it on one thing, they might not have enough to afford something else!If you’re still on the fence about what payment methods to accept, talk to a merchant service provider, talk to other business owners, but always do what feels right for you and your business.We all get a lot of bills; there’s the gas, electric, internet, phone… It may just seem like another expense in the long list of regular outgoings, but there’s a number of very good reasons behind why we’ve been giving a regular amount of money to children for the past two hundred years.Not all mobile wallets are the same, some accept loyalty programs where others do not, some only accept certain types of cards, etc.If you decide you want to be on the cutting edge of technology, talk to your merchant service provider about what they recommend when it comes to mobile payment options.On the negative side, doing business in the countryside also represents some notable drawbacks.To begin with, skilled workers are a rarity in rural areas.By giving them a regular allowance, it’s over to them to decide how money gets spent or saved.If parents put their foot down in that pocket money must cover all expenses, bar special events such as holidays or birthdays, kids can more carefully consider the value of money and how to handle the responsibility.


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