High School Students and Their Allowance Management

HIGH SCHOOL STUDENTS AND THEIR ALLOWANCE MANAGEMENT High School Students and Their Allowance Management [Author’s Name: First name, Middle initial(s), Last name] [Institutional affiliation] Abstract Every day, high school students leave their homes to attend school and they may or may not have allowances in their pockets from their parents. Whether a child has the right to hold his own money seems to be an ongoing question for most parents, but only if they do not realize what is to be benefitted from the experience. Allowances and the chance to have money of their own is more than just power. After all they say, “with power comes great responsibility”, and that applies with the possession of some fortune—however little. When you allow a child to go to school with an allowance, you do not just supply him with money to spend; you give him the opportunity to exert discipline in terms of budgeting and managing his given wealth. It teaches him how to set his priorities straight, so that he can appropriately allocate the money where it is most needed. All of that, of course, will be best appreciated in the future. When money is no longer given to him, but earned. Keywords: research paper about high school student allowance, effects of allowance to students, how students spend their allowance, thesis about student allowance Before a person earns his own money, he will be dependent on the financial assistance that’s provided by his parents or guardians—the allowance. It is often a fixed sum of money, between P100 - P250 per day; and it is supposed to cover the student’s daily expenses. But what exactly does a high school student spend for, during the few hours that he’s in school? In the past, students were able to survive without any pocket money. Some parents would rather provide everything for their children rather than to let them handle cash at a young age. Is it really bad for teenagers to have money of their own? What are the effects of allowance to students and why are some parents sending their children to school with money in their pockets? Believe it or not, there are many adults who are incapable of managing their own money. As soon as they start earning, they find themselves completely overwhelmed and many end up in debt (or barely surviving their incomes due to their lavish lifestyles. Many research paper about high school student allowance put focus on the true value of this early responsibility as an individual’s first taste of budgeting and putting up some savings. Needless to say, if parents want their children to be good stewards of their own money in the future, they would allow them to take some responsibility. Of course, parents would need to monitor how students spend their allowance these days, so that they can guide them about budgeting and managing their expenses. They can even teach them a thing or two about saving money. When a child asks his parents for something he truly covets, the parents can tell him to save for it, instead of simply giving in to his request. And instead of giving too much money, give him just enough so that he will learn how to prioritize his expenses. Because if a teenager has make a decision to pay for a school book or buy a tall Starbucks drink and he ends up ...