Most adults allow their children to spend money lavishly as they want as they mistakenly believe they are still lack of ability to manage their allowance so they should be protected. However I strongly beleive that preventing them from managing their own maney is not beneficial to become financilally resoponsible adults. The rationale behind this is that managing their money allows children to have ability to suitablely organize their restricted resourses. Additionally, children would have opportunities to consider their future.
Learning management of their money certainly contribut to become financially well-organized grown ups. This is largely because allmost chilrdern with unlimited affection from their parents have no idea of restricted resourcese as they have had experience of when they wanted something then got it from their parents. From my personal experience, I was very panic when I was given a planner from my mother and was told that she will give a certain amount of allowance monthly so I had to manage it by writing what I spend my money on the planner. Even though I felt disappointed as I could not enjoy as much as I want, while planing my limited allowance to afford a month and writing it down on a planner, I could able to organize my daily life as not to mention of my allowance. This good habit to manage my life resulted in 3000 dollar in my saving bank when I graduate from high school.
Also, management of their money could serve as a great oppotunity to prepare them for their future. That is, when children manage their money they naturally think about their future. Therefore they can furthrer make a plan for their further academical paths as well as careers. An Psycological assessment shows that children who had maged their allowance dilignetly have demonstrated much higher passion toward their dream compared to those who little organize their financial matters. Assessment further states that magazing their finace, they were able to delieberate about their future career so they could be more firmly decided for thier dream. This results clearly shows that managing their resorses could result in verifying their enthusiasm toward their own lives.
As I mentioned above, allowing children to manage thier own finacial resourses is the best method for them because it encourages them to have more balanced sense of money, as well as insights about their lives. Blind affection toward children never makes them truely grown up. It would be wise for parent to be selective when it comes to finace children.
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