Advantages And Disadvantages Of Pocket Money Essay

Advantages And Disadvantages Of Pocket Money Essay-8
On the negative side, doing business in the countryside also represents some notable drawbacks.

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.Cash is instant gratification; you receive the money, and it’s yours unless they return the item, but even then you can offer store credit instead of cash in hand. Checks have always seemed funny to me, don’t get me wrong, we all use them, but a check is simply an I. However for a merchant, like cash, the beauty of checks is that it costs nothing to accept.Now that being said, this payment method does come with drawbacks.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.So let’s look at the advantages of giving pocket money!First and foremost, we often give pocket money so children gain a deeper understanding of financial responsibility.Alternatively, you can set them additional earners outside of their allowance (see our You may want to consider if the money given to your children as pocket money will be spent frivolously.This could be increasingly risky if the money is given regardless of behaviour.


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