Money

Mom or Dad? Who gives more pocket money to children? Study reveals interesting trend

Mothers give more pocket money to children than dads, in accordance to a examine of over one lakh mother and father. The examine by Junio recommended that youngsters obtain a mean of over Rs 1500 from moms whereas dads hand out someplace round Rs 1100. 

The examine exhibits that fifty per cent of youngsters receiving pocket money got here from Delhi, Mumbai, Bangalore, Hyderabad, Chennai, Kolkata, Ahmedabad, Pune, Chandigarh, and Lucknow, and their common month-to-month allowance was greater than kids in different cities.

Mothers play a significant position in instructing money administration classes to children and establishing a agency monetary basis for them. The survey revealed that moms are giving their children first-hand expertise of various money administration expertise like month-to-month budgeting, controlling bills, saving, and preserving observe of all of their transactions. 

What do kids do with their pocket money?

The examine exhibits that kids majorly spend their pocket money on utility funds equivalent to cell recharge, gas payments, cab rides, meals payments, and many others. Tracking the money stream and the month-to-month allowance, the opposite vital spending was seen on platforms like Zomato, Swiggy, Zepto, Paytm, PhonePe, Blinkit, Flipkart and Amazon. 

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Commenting on the findings of the examine, Ankit Gera, Co-Founder of Junio, mentioned, “Mothers are taking a lead position in instructing children monetary self-discipline. Raising financially literate children and giving them the virtues of wholesome spending and saving habits is without doubt one of the finest items mother and father may give to their kids.

”Saving for a wet day is a necessary a part of parenting, and oldsters can empower the following era by instructing them the worth of money at an early age. Today’s children are fast learners and tech-savvy, so it’s straightforward for fogeys to educate them monetary self-discipline, budgeting, and saving habits, and Junio has all the time been dedicated to making the journey less complicated and more thrilling for each children and the mother and father,” he added.  

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