Parents have widely different views on the problem of pocket money. Four new fathers were asked this question and this is how they answered. Ashish Khanna: Although many argue that pocket money helps develop children's sense of value, I don't agree. I wouldn't give my child any pocket money. First of all, I never got pocket money and I seem to have a good value for money. If my child ever needed something and I felt it was a reasonable   request, I would buy it for him. Sharad Sanghi: No, I wouldn't give my child pocket money because I don't want to create the perception   of "her" money and "my" money. Besides, if I refuse to buy her something that I think is bad for her, she may buy it with her pocket money _ In this way, I would lose control over my child's requests. I feel it also encourages children to care more about money than anything else. I don't want my child to start judging other children by the amount of money or pocket money they have. Rakesh Shah: Yes, I would give my child pocket money because I feel that children should learn to spend money properly. I will give him a fixed amount every month and if he spends the money before the month is over, he will learn a lesson and not spend money so freely. He will learn what his limitations   are and feel the difficulty when he has to pay for something that is over his own pocket. Rajiv Patel: Yes, I would give my child pocket money because it is important that he learns to manage money. But I would not give it to him on a weekly or monthly basis. He would have to earn it. If he helped me finish some of my jobs or helped his mother with housework, I would reward him. This helps him realize that "money does not grow on trees" and it requires hard work to earn money. What do Rakesh Shah and Rajiv Patel have in common?
They want their children to learn to manage money from an early age. They ask their children to get pocket money by working. They teach their children the difficulty of making money. They allow their children to spend money freely.