Statistics show that almost half of the population of the United States lives pay check to pay check. This means that nearly half of us have no disposable income. Even if the idea of pocket money still existed in the form of extra money on the debit card, it still wouldn't apply to much of the nation. Now, the majority of people are on very tight budgets and must carefully plan spending allowances, even for daily necessities like food.
Few people nowadays have so-called pocket money except, perhaps, for children who get an allowance. It is outdated, as people are mostly paying via other means, like debit and credit cards, or even imaginary currency, like PayPal and Bitcoins. That being said, its concept is a good one, and having a set amount that can be spent freely would help keep people from being in debt. Paying by plastic and other non-cash means helps us to forget money is a real thing, and perhaps be more able to freely spend it, which is not necessarily a good thing.
The way foreign entities are breaking into peoples accounts and the easy theft of peoples credit cards, people are getting scared and are being more concerned and are starting to use cash. Also people on a budget are more easily swayed when having aa credit card to rack up bills which will sometimes never be paid and why bankruptcies are up. And then you have the people who never intend to pay their bills and buy extravagant items since credit card companies seem to give out card to anyone even with horrendous credit reports