When you have a loan to pay back, it is easy to become responsible fast.
Contrast this with the US, where most students take a loan to pursue a college education. We pay for their undergraduate college tuition and in some cases even postgraduate college expenses. Which school of thought is correct? Here is our take on this eternal question.Īt the risk of over-generalizing, Indian parents are rather protective of their children. On the other, some parents believe that giving allowance to kids and making them accountable for how the allowance is spent, makes the children financially disciplined. On one end of the spectrum, the skeptics see children getting spoilt with all the pocket money they are getting.
Parents in India are divided over the issue of giving an allowance or pocket money to their kids.
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