In today’s world, wealth has a prominent role in one’s life; therefore, some part of the society think that the offspring should be taught regarding money by parents. In the present essay, a few helpful methods in this endeavor are enlisted.
First and foremost, parents should give their children monthly allowance to teach them how to manage money. If children receive their allowance on monthly basis, they learn to be thrifty and not to spend it all at once. For instance, I was never given money when I wanted to buy something, instead, I had to hold on to the sum that I had till it was necessary to spend it.
Another beneficial way is to punish children for unnecessary expenditure, which teaches them how to spend their money wisely. Children should be taught that money should not be spent on extravagance. The best way is to discourage them with mild punishments such as cutting their play time or their access to some of their belongings.
Last but not least, rewarding children with money when they have constructive behavior. When children are behaving in a helpful manner such as helping with the chores and running errands, they should be rewarded with money so they learn that money is earned by being responsible for completing tasks. Moreover, encouraging children to take on part-time job during school break is highly beneficial because they learn money is merited through hard work.
All in all, there are a plethora of methods to teach children about money. Based on the explanation above, I believe the most beneficial ones are giving a monthly allowance, punishment for spending on unnecessary luxuries, reward them with money when they are helpful around the house and encouraging children to take on a part-time job.
In
today
’s world, wealth has a prominent role in one’s life;
therefore
,
some
part of the society
think
that the offspring should
be taught
regarding
money
by parents. In the present essay, a few helpful methods in this endeavor
are enlisted
.
First
and foremost, parents should give their
children
monthly allowance to teach them how to manage
money
. If
children
receive their allowance on monthly basis, they learn to be thrifty and not to spend it all at once.
For instance
, I was never
given
money
when I wanted to
buy
something,
instead
, I had to hold on to the sum that I had till it was necessary to spend it.
Another beneficial way is to punish
children
for unnecessary expenditure, which teaches them how to spend their
money
wisely
.
Children
should
be taught
that
money
should not
be spent
on extravagance. The best way is to discourage them with mild punishments such as cutting their play time or their access to
some
of their belongings.
Last
but
not least, rewarding
children
with
money
when they have constructive behavior. When
children
are behaving
in a helpful manner
such as helping with the chores and running errands, they should
be rewarded
with
money
so
they learn that
money
is earned
by being responsible for completing tasks.
Moreover
, encouraging
children
to take on part-time job during school break is
highly
beneficial
because
they learn
money
is merited
through
hard
work.
All in all, there are a plethora of methods to teach
children
about
money
. Based on the explanation above, I believe the most beneficial
ones
are giving a monthly allowance, punishment for spending on unnecessary luxuries, reward them with
money
when they are helpful around the
house
and encouraging
children
to take on a part-time job.