“Pocket Money” is the term for the money they parents give to their children or spend every month. In America, they all it “allowance”, A child can spend this Monet in anyway he or she likes. Sometimes parents guide their children and help them decide how the money should be spent.
I also get a fixed amount of pocket money every month from my patents.
I don’t spend all my pocket money. I put some of it in my piggy bank. Since I love chess. I use my pocket money to buy books about the game. Now I have a very good collection of books on chess. Sometimes, I go our to watch a film with my friends. Often we go our for lunch to some restaurant. If I like some music. I use my pocket money to buy  CDs & IT devices.
Since my sister is still too young, she does not get any pocket money. So , Sometimes , I give her some money to spend or by things for her. During some months I’m able to save most of my pocket money is good. It helps children understand the value of money and how one should plan for the entire month. It is important that parents are strict and do not give children more money once they have finished their pocket money.