Date Posted: 7/10/2014 6:36:16 AM
Posted By: Ashaaki Membership Level: Bronze Total Points: 12
With the rising cost of living and high inflation rates, it has become increasingly difficult for the average college students to subsist on education loans. Parents and guardians should therefore be willing to help supplement on these loans however small the amount.Having pocket money enables students to live comfortably in college without thinking of where they will get money to buy basic necessities. Having pocket money enables the student to focus solely on their education. In Kenya, for example it is very difficult for students to get part-time jobs to supplement their education loans. Most students are also these loans.However, students should also be able to use their funds wisely and judiciously. Having pocket money should not be an excuse for students to spend their money on frivolous items. Students should be taught how to prioritize their use of money. Having a simple budget goes along way in helping students manage their finances effectively. Having pocket money should not be a reason for students to be lazy.Parents should limit pocket money. This encourages the students to get part-time jobs or start up a business which enables them to be entrepreneurs. This creates job opportunities for other citizens. This also enables the students to be self reliant and independent. Most parents, in Kenya, cannot provide their children with pocket money and are actually relying on students to help educate their younger sibling with the paltry student loan from the government.Parents who are able to give their children pocket money should give it to them. They should not spoil their children, but give them enough to buy basic necessities and continuously encourage them to work for their own money. Students who are in their final years of college should however not be given pocket money, unless in the case of an emergency, since by this time they should be able to provide for themselves. They should have found means to provide for themselves however small the amount. With the rising cost of living and lack of jobs, student s should be aggressive and try to earn money at a very young age so that they don’t have to wait until they get older.Pocket money should not be taken as a right but as a privilege by students. They should therefore strive to earn their own money. Earning your own money comes with a lot of benefits like economic freedom, the student is able to provide for him/herself and also buy a few luxury items. This is desired by any human being.By earning their own money, students help build the economy and do not have to wait for the government to provide jobs for the very many graduates seeking these jobs.College students should therefore not rely on pocket money to survive in school but should however strive to provide for themselves alleviating their parents stress and in allowing them to use their money on other needs.
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