From my point of view, I think all teenagers deserve an allowance. Allowances help teenagers manage money and will prepare kids for the future. Without money managing experiences, adults of the future will spend money foolishly. Others will have plenty of cash if they learn young. Another reason I think allowances are a good idea is so teenagers will have a certain limit to spending money. A weekly or monthly allowance of a reasonable amount of cash is good. My allowance is $60 at the first of each month and if my parents don’t give me my allowance on time, I charge them a $1 interest for each day I don’t receive it.
I think the amount I get is pretty reasonable because it’s not too little and not too much so I seem to manage well.
Allowances should depend on a family’s financial situation. Some families are too poor to give their children an allowance and other families are so rich that they constantly hand out money to their children without refusing, which spoils most teens.
In order to avoid that kind of situation I think whether a family is rich or poor they should still provide their child with an allowance. At least a dollar a day or just enough to realize the value of a dollar. Ten dollars every two weeks would be reasonable for a middle class family or whatever the family decides on. Any amount will be fine so that kids can learn to save there money and let it grow or just blow it all off and be broke.
As I was saying, what is done with the money is the teenager’s choice. But parents should still watch what their kids do with their money and guide them to spend it wisely.
Some kids may start buying drugs or betting their money in foolish ways. Others, like myself can invest their money by putting it into stocks. This is also another learning experience for many teens. In conclusion to my opinion, allowances do help educate teenagers and at the same time prepare them for the future. Allowances may prevent bankruptcies in the future and help teens make important financial decisions, which may result either in success or failure. Those who have already resulted in failure have learned their lesson the hard way and are now paying the price. Allowances can contribute to a successful future. For those parents who don’t give their children an allowance I suggest you take my word for it and start now before it’s too late.
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