It is true that high school students are not renowned for their skills in managing their own finances. Two factors stand out as being responsible for this failing, but there are steps which can be taken to remedy the problem.
High school students are often incapable of managing money for two main reasons. The first is family background. During their formative years, children of high school age are often rebellious, asserting their independence as they prepare to enter adult life. They may say that parents are being overprotective when giving advice about money matters. Secondly, adolescents are very impressionable. They are easily swayed by advertisements, and the media skilfully employs market research to persuade teenage consumers to buy particular goods impulsively. So, regardless of the cost, high school students sometimes borrow on credit to spend on ‘must have’ items, such as designer label clothes or the latest i-Pod.
There are measures which parents and the authoritiesshould take to deal with this issue. From an early age, parents ought to bring up their children to make the most of their pocket money. Parents must encourage patterns of behaviour in which youngsters learn to use money wisely and not to squander their savings in order to keep up with their peers in school. Government, as well as parental involvement, also has a role to play. Controls must be placed on how the media operates, particularly in the booming field of online advertising. Celebrity endorsement should be banned, as young people of high school age are vulnerable to the association of certain products with glamour and success.
In conclusion, persuading high school students to manage their money wisely is not an easy task for the reasons explained, but parents and government can implement some common-sense solutions.
It is true that
high
school
students
are not renowned for their
skills
in managing their
own
finances. Two factors stand out as being responsible for this failing,
but
there are steps which can
be taken
to remedy the problem.
High
school
students
are
often
incapable of managing
money
for two main reasons. The
first
is family background. During their formative years, children of
high
school
age are
often
rebellious, asserting their independence as they prepare to enter adult life. They may say that
parents
are being overprotective when giving advice about
money
matters.
Secondly
, adolescents are
very
impressionable. They are
easily
swayed by advertisements, and the media
skilfully
employs market research to persuade teenage consumers to
buy
particular
goods
impulsively
.
So
, regardless of the cost,
high
school
students
sometimes
borrow on credit to spend on ‘
must
have’ items, such as designer label clothes or the latest i-Pod.
There are measures which
parents
and the
authoritiesshould
take to deal with this issue. From an early age,
parents
ought to bring up their children to
make
the most of their pocket
money
.
Parents
must
encourage patterns of
behaviour
in which youngsters learn to
use
money
wisely
and not to squander their savings in order to
keep
up with their peers in
school
.
Government
,
as well
as parental involvement,
also
has a role to play. Controls
must
be placed
on how the media operates,
particularly
in the booming field of online advertising. Celebrity endorsement should
be banned
, as young
people
of
high
school
age are vulnerable to the association of certain products with glamour and success.
In conclusion
, persuading
high
school
students
to manage their
money
wisely
is not an easy task for the reasons
explained
,
but
parents
and
government
can implement
some
common-sense solutions.