Children should be taught the value of money at an early age as that is when they are most susceptible to their parents' influence. Teaching children the value of money is important as they will grow to become more sensible. One example is when children are taught to save up their allowance to buy something they really want. This teaches them patience as they will learn to curb their unneccessary wants for a certain cause. Children will also grow to learn the difference between neccessities and what is not required.
However is a tendancy for parents to offer monetary rewards for certain achievements of the child such as achievements for tests. Although this may motivate the children to study for the wrong reasons, they have learnt that money is earned through hard work and will thus spend more carefully. Good money habits are essential for the future and its important that these habits are instilled in them from a young age to put them in good stead for their futures.
posted by mickeymonkey @ 12:06 pm
3 Comments:
I agree. Children growing up in affluence will not realize the true value of money as they will think that it is something that is there all the time and take it for granted. Parents should also try not to use money to replace the time they don't spend with their children as this does not serve to improve their bond. Children will only see their parents as money source and nothing else.
YAY same I save moneyy :))
<3 stef:)
After a long period, the topic on saving money has resurfaced in the press again. I believe that it is high time this generation is served a reminder how difficult it is to earn money and how easy it is to spend it. Especially in an increasingly materialistic world, the word saving is almost unheard of among teenagers.
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