Some say it is important for parents to teach their children about the importance of money. Why and how should they do it? Include examples from your own experience.

 Some say it is important for parents to teach their children about the importance of money. Why and how should they do it? Include examples from your own experience.

Why to teach Value of Money to Young ones

- Tender minds are easily influenced by the possessions of their elite peers. - Over pampering by the parents, which is turning them into demanding individuals - Train them about being rational

How to do it

- Mothers and fathers must set precedents by making sacrifices

Intro one

Money, saving and spending, is an integral part of life, but young ones are quite oblivious to this fact. This makes it a practical approach, as per many, to impact this critical life skill  to the little ones  by applying disparate strategies. 

Intro two

Child rearing is an arduous task, and making young ones aware of critical matters, like appreciating the relevance of money, to help them grow as rational adults, is a desirable task. Experts have discovered several methods to accomplish this important goal. 

Coaching youngsters about the relevance of money is a paramount task in the contemporary times when the young ones are more frequently interacting with their surroundings. Tender minds are easily influenced by the possessions of their elite peers; attractive advertisements of products; and over pampering by the parents, which is turning them into demanding individuals, presenting a serious challenge for mothers and fathers who have to struggle coping with unwarranted demands. Informing young ones about the importance of this resource will go a long way in teaching them about being rational. 

Nevertheless, enlightening young minds about the significance of money is although a little tricky, a surmountable challenge provided people at a little prudently. Many commentators suggest that mothers and fathers should set precedents for their wards by making sacrifices, delaying purchases of unnecessary things, and putting some money into savings. Such actions should be taken, and openly discussed in front of the young ones.

Similarly, another method that can bring radical changes in attitudes of youngsters and help them appreciate the relevance money has in comfort filled life, is by making them visit locations that are populated by those belonging to the deprived/underprivileged sections. This will surely have a long lasting impact on the young psyche and teach them why money is critical.

Hence, I strongly feel the current era has added new challenges to the task of parenting, and bringing youngsters face to face with money management is one of them, but this can be easily negotiated with a judicious approach.