The notion of money and work used by parents in devising their allowance system
The allowance systems used by parents differ in many ways and is, to some extent, influenced by the allowance system used by other parents. Accordingly, it implies that the social connections would be at play as a theoretical disposition on the same issue. Most of the parents support the need for an allowance based on the extra chores performed around the house such as babysitting. This is so because the parents consider such actions as babysitting as some form of work because that ought to be rewarded by payment. However, this should not be the primary reason parents give out allowances. This is evident as some parents argue that the tasks performed at the household level are an indication of being part of the family and no compensation should be given since the child would still perform the task anyhow. The argument supports the notion of parents devising an allowance system as with an intention of teaching money management (Tugend, 2006).
Different meanings of money use in relation to the allowance payments
Parents make varied sense as to the meaning of money depending on the nature of the allowance and its use. For some parents, the amount they give to their child as the allowance is based on the chores they perform at home while to others, an allowance act as an extra expense for the child to use on luxuries that is spending on things above the basics (Tugend, 2006). These may include spending things like movies and other activities of personal importance for the child.
Goals parents want to achieve by giving or not giving their children allowance
By giving out allowances, parents can create a savings culture in their children. Similarly, it could also imply that the parents would be giving the children money for their expenditure. This is particularly possible for parents who encourage their children to save a portion of their allowance, donate some to charity and spend the rest. Another goal parents hope to achieve is do develop financial independence in their children by encouraging proper money management. By giving out a fixed amount as allowance after a specified period, parents develop the culture of responsible spending of money and discourage instances of extravagance since the allowance is only given after the specified period.
How the practices reflect and reinforce social relationships
The use of the allowance system is significant in strengthening social relationships as it incorporates the social and the symbolic significance of money. This includes the children’s money, that is the allowance, and the money owned by the parents (Zelizer, 1989). The meaning of this is that the allocation and the quantity of an allowance are shaped by the changing cultural relationships such as the age of the child. Therefore, the money given out either for compensation, as a gift or as entitlement implies subordination which defines the quality of the social relations that exist between the parties (Zelizer, 1996).
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