ECONOMICS
MONEY MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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To buy lunch at school
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The money you only put in your pocket
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The money you spend to watch a movie at the cinema
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To buy your daily needs
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Detailed explanation-1: -The main reason for giving pocket money is to help children learn to manage money while they are young and you can still guide them. It is a valuable way to teach responsibility. Pocket money can help children feel that they are important members of the family because they are given part of the family’s spending money.
Detailed explanation-2: -It helps them outline their money and track their expenses. This way they learn to develop financially responsible habits in the long run. Value of Money: When kids get their own pocket money, they learn to make smart choices about spending and saving. They appreciate the true value of money.
Detailed explanation-3: -Giving children regular pocket money is a really good way for them to learn about money and managing their finances. Children learn best through their own experience, and learning about money is no different.
Detailed explanation-4: -Pocket Money Essay: ‘Pocket Money’ is the term for the money that parents give to their children to spend every month. In America, they call it ‘allowance’. A child can spend this money in anyway he or she likes. Sometimes parents guide their children and help them decide how the money should be spent.