ach of us undergoes a sea and how they can collect more
change once we hit the savings. This is what allows them
golden age of sixteen. At to understand the concept of
this time, they are made to start saving. They come to realize that
managing their own finances. Soon accumulating savings will give
they will be completing high them the bonus of having some
school and will be ready for extra money when their friends
college. Some of them might even have all used up their pocket
take up jobs and decide to become money. Once the value of money
self-sufficient right away. Thus, has been understood, young people
it becomes important for children gain a degree of financial
to learn about finance right from responsible.
the time when they are in school.
They finally begin to
Parents sometimes follow the understand that they can achieve
practice of giving pocket money a lot more if they are careful
to their children. with their spending. If on
Most often, this allowance this impulse, they spend all their
could be given to them on a money on a music album or a
weekly or monthly basis. In most tennis racquet, they will realize
families it is seen that once a that they have little liquid
child runs out of money, he will cash. After such an impulsive
approach the parent for an buy, they will have to wait till
advance. This constitutes the it is time for their next
first step towards getting to advance. This will teach them to
know how money should be cut corners and use their money
used.
in a wise and prudent manner.
Young people learn the value
Also while applying for
of money through the practice of colleges, parents should guide
taking an allowance. They learn their children and help them
about how much they should spend understand the fee structure.
Students should be encouraged to with friends, they will consider
secure loans for their education the money that they have, will
and familiarized with the calculate how much they can
processes of applying for these. spend, and will act accordingly.
They will then realize that The young people of today are
college degrees tend to be rather well aware that they need to
costly. Paying for a degree is start acting like adults while
not a cake walk. They will they are still studying. Many
finally understand that money is young people reveal this maturity
a necessity and not a luxury. through their spending
They will learn to approach habits.
will look around for part time
opportunities so that they can
start repaying their loan at
once. This gives them the
independence and freedom to do type="text/javascript">
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