Pocket money reinforces culture of consumption

A recent study by Hibernian Life in Ireland shows that children are given substantial amounts of pocket money – € 10 per week on average at primary and € 20 per week on average at secondary.  More than half of the children spend all of their pocket money.  This indicator, coupled with the continuous stream of reports on poor childhood health, it is clear that children are just spending the cash on sweets, junk food, and probably cigarettes and alcohol.

Parents are doing their children a disservice by failing to educate them as to money matters and worse, encouraging them to believe that there are no bad consequences to profligate behaviour.