Pocket money dilemma

Where should parents draw the line when giving allowance?

Many teenagers in the city are not satisfied with the amount of pocket money they are getting. That's because their needs and interests have changed over the years.

The Associated Chambers of Commerce and Industry survey for 2008-2009 says that while boys splurge on electronic items, girls spend their money on clothes, shoes, bags and make-up.

Counsellor speak

Meera Jeyraj, student counsellor said,u00a0 "A reasonable amount of deprivation helps one to be a more motivated person. I have seen affluent people give their kids everything, so the children have no ambition. They're complacent because they know they'll inherit dad's business anyway."

Balance

Parents have to find middle ground.

Sunanda, a mother of two, said, "Giving pocket money to a youngster makes them feel grown up, mature and responsible. More importantly is the intrinsic reward a youngster receives when she performs well," says
Dru00a0 Rashmi Desai, another parent, said, "My 14-year-old wanted more money. After a lot of persuasion we found that he got lessu00a0 pocket money than his peers. So I gave in and offered him a monthly allowance ofu00a0 Rs 3, 500,"
In fact, Pavan Desai, a 10th standard student of Ryan International School said, "I used to get lesser money than my friends. They all get above Rs 5,000 a month while I got Rs 2,000. I guilt-tripped my parents into giving me more."u00a0u00a0

Psychologist Rohan Srikanth said, "Too much pocket money is not good for children's development, and parents need to give their children money based on the family's economic conditions. Also, parents need to keep a check on their children's spending habits."

Celeb talk

I've never had any problems with my son. I gave him a monthly allowance of Rs 5,000. Also I've bought him all that he wanted before he could ask.
Prasad Bidappa, fashion designer

Pocket money gives a child a sense of independence. I don't get pocket money anymore, but when I did I felt good as I didn't have to keep asking my parents for money all the time. Kids should get it, but it's up to the parents how much they get.
Adam Bidappa, Prasad's son