Question 1 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. According...Read More
~Posted on
Feb 2018
Question
1
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.
Question
2
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).