Managing own finances and utilizing the savings at the time of needs play a critically important role in a person's life, Crises and unfavorable moments are undeniable facts. Should parents realize the significance of teaching their children to overcome these circumstances, they wonder over it scrupulously. There are various schools of thoughts among the people on this issue of giving children control of their money, which some of the parents see eye to eye on it, while others see an issue with it, which in my humble opinion, giving children control of their expenditure is better to groom them as a responsible adult and in the ensuing lines, I will elaborate this on the most outstanding and cogent ground.
First and foremost, teaching children to manage their own money will engender a myriad of advantages for them in the future. The main reason behind this rationale is children will learn to be more independent in their life by keeping their budgets under control. It is critically important if children know the difference between their needs and wants from the beginning. It helps them not to rely on others and manage their lives when they become grown-up. My own life is a compelling example of this. When I was in 5th grade and I was very fond of playing video games, my parents started to give me pocket money for the whole month to instill a sense of responsibility, I have to bough my all school supplies and my favorite video games from the fixed amount of money. In the start, I had great difficulty as I couldn't manage my bills and spent most of the money on my wants and left with no more money to buy essential school supplies, but gradually I figured out that if I hadn't bought video games for a month I could get my school's needs fulfilled and next month I would have bought my favorite game. Fast forward last year, I paid my college tuition fees and get admission to a prestigious university. If my parents hadn't handled the money, I would have never been an independent and successful person now.
On top of this, money management motivates the children to take their studies seriously as they realize that it's not easy to earn money. Knowing the worth of money, children learn that in life nothing is free, and to have a better status in society and good quality of life, they have to struggle, so they focus on their studies and strive for the best outcome. For instance, my nephew is 10 years old, but he knows that he would have to play his role, and do good in his studies as only then he would be able to a successful person and earn a high salary. If my brother had not given him control of his pocket money he would have never realized it and had taken their parent's hard-earned money as his birthright.
For the above-mentioned reason, I am completely convinced that children should have to manage their money to make them more responsible for their expenditures and dedicated to their studies.
Managing
own
finances and utilizing the savings at the time of needs play a
critically
important
role in a person's
life
, Crises and unfavorable moments are undeniable facts. Should
parents
realize the significance of teaching their
children
to overcome these circumstances, they wonder over it
scrupulously
. There are various schools of thoughts among the
people
on this issue of giving
children
control
of their
money
, which
some of the
parents
see
eye to eye on it, while others
see
an issue with it, which in my humble opinion, giving
children
control
of their expenditure is better to groom them as a responsible adult and in the ensuing lines, I will elaborate this on the most outstanding and cogent ground.
First
and foremost, teaching
children
to
manage
their
own
money
will engender a myriad of advantages for them in the future. The main reason behind this rationale is
children
will learn to be more independent in their
life
by keeping their budgets under
control
. It is
critically
important
if
children
know the difference between their needs and wants from the beginning. It
helps
them not to rely on others and
manage
their
lives
when they become grown-up. My
own
life
is a compelling example of this. When I was in 5th
grade and
I was
very
fond of playing video
games
, my
parents
started
to give me pocket
money
for the whole month to instill a sense of responsibility, I
have to
bough my all school supplies and my favorite video
games
from the
fixed
amount of
money
. In the
start
, I had great difficulty as I couldn't
manage
my bills and spent most of the
money
on my wants and
left
with no more
money
to
buy
essential school supplies,
but
gradually
I figured out that if I hadn't
bought
video
games
for a month I could
get
my school's needs fulfilled and
next
month I would have
bought
my favorite game.
Fast forward
last year, I paid my college tuition fees and
get
admission to a prestigious university. If my
parents
hadn't handled the
money
, I would have never been an independent and successful person
now
.
On top of this,
money
management motivates the
children
to take their
studies
seriously
as they realize that it's not easy to earn
money
. Knowing the worth of
money
,
children
learn that in
life
nothing is free, and to have a better status in society and
good
quality of
life
, they
have to
struggle,
so
they focus on their
studies
and strive for the best outcome.
For instance
, my nephew is 10 years
old
,
but
he knows that he would
have to
play his role, and do
good
in his
studies
as
only
then
he would be able to a successful person and earn a high salary. If my brother had not
given
him
control
of his pocket
money
he would have never realized it and had taken their parent's
hard
-earned
money
as his birthright.
For the above-mentioned reason, I am completely convinced that
children
should
have to
manage
their
money
to
make
them more responsible for their expenditures and dedicated to their
studies
.