In today’s society kids are always spending their money. It’s the result of children watching their parents spend money. As a child you can tell the difference between spending money on something they want, or saving it for a legitimate reason. Teenagers have absolutely no idea how to save money wisely, and non-impulsive. Teenagers need to be taught, and need to learn how to save. If not, as they get older they will go into debt and have a hard time getting themselves out.
As a child you are always watching your parents. You watch what they do, and you want to be just like them. When it comes to spending money you want to spend it all before you can get it home and in your piggy bank. That is the prime result of parents not helping their children learn how to spend wisely. Children see the excitement of their parents spending money on something they want, versus putting it in a savings account. As the children start to grow, they keep those habits and spend, and spend, and spend, and eventually go into debt.
As children grow into teenagers, we still spend money like there is no tomorrow. Many teenagers don’t even know how to save, or even spend frugally. As a teenager, they usually don’t care. They think “adults have no idea what to do with money.” Another example “look at my parents spending money all the time, they are doing perfectly fine!” But they have worked all their lives and they can afford to. When you are a teenager you usually can’t afford to spend all of your money. As they young adult I am today I realize I didn’t save and spend frugally like i needed too. I didn’t care and I spent it all. Now, as the more mature young adult I know how to save, and spend my money wisely.
As a young adult, I know how to save my money. It would be a good idea to have a financial class open for teenagers to take. It could teach them to spend wisely and give them reasons to save. I’m not saying to never spend your money, and save it all. I...