Some people might think that
children don't need to learn how to use their money well in their young age.
This is because it is enough to learn financial managing after being
responsible for their money such as after getting
a job. However, I strongly think that people
should teach children how to use their money wisely to be financially
responsible in their future. There are two reasons for this.
First of all, proper learning
about financial mangement management at a
young age is needed since people's habits of using money do not change well
once they have formed. It is true that adults' financial habits are continued
from their early ages. For instance, a child who
was used to using all his/her money right after getting it is very likely to
use money without purposes or impulsively in his/her future. Or, a child who
was used to save saving some part of
his/her money has a high probability of keeping a saving habit after he/she has his/her job and gets
income. Also, like other habits, it is hard to change each financial habit that
is formed in their early age even if they want to. Therefore, to be financially
responsible adults, people should teach their children the
proper way of managing their own money. This leads to form sound and good
financial habits in their early age and it will continue to their future.
In addition, early education on
managing money enables children to experience management failure in a relatively small scale and to try many various
managing ways to fit their own styles. It is obvious that big or small failures
can occur when people learn something because everyone experiences his their 'first times' and it should be
applied to financial management. When children learn how to use their own money
properly, they might fail to use it with a purpose
purposely. But, it is relatively affordable because their allowance
might not have a big impact on them. However,
for adults, failures in managing their money can lead to troubles in living or
can be a considerable amount. For example, when
I was young, my parents gave me some pocket money every week and taught me how to use it
wisely. At first, I didn't get how to use it properly, so I used every all my money to buy a robot impulsively right after getting my money it. Due to my behavior without purpose, I couldn't buy
any other cookies, snacks, or books and I regretted
buying the robot too impulsively. This episode gave me lessons without any big
damage to me such as hardships of life because I was very young and the allowance had no big influence.
To sum up, people should
teach children how to use their own money wisely to be financially responsible
adults in the future. This is attributed to the
fact that people's habits of using money usually form in their young age and do
not change well, and early education on managing money enables children to
experience failure in a relatively small scale
and try to many various managing ways to fit their own styles.