Growing up in a small town, most of my needs were taken care by parents. However the world changed when I boarded a hostel for my graduation and subsequently the post graduation.
While grooming up as an engineer, my take on money was nothing but a goal to achieve. Learning economics for post graduation, however opened up a new frontier. Money now appeared as a means to achieve goals.
Soon the work life factored in and then I realised that money is a tool to achieve certain goals in life and its not everything!
Now that I have two kids, who belong to a dynamic world, I feel immense urgency and necessity that they learn this fact sooner in life than later.
Why do I feel so?
Just because, money being a means can be put to a good use and it can be inculcated as a habit. It being a tool, the kids can be trained well over the years to use it for the best. The early start also ensures balancing money matters diligently later in life.
Good habits are difficult to come by and once they are settled, they never leave you! Starting at early age also has the benefit of not getting adulterated with twisted views. Young minds are just like the clay, mould them early and then it easy. Have you tried moulding the clay that is exposed to air for long… then you will understand from where I am deriving this!
I want my children to know that money is a necessity to satisfy the basic needs and provide comforts of life. Earning money honestly and with just means also carries the message of dignity of labour. Early start to saving and investment means a long term for it to reap rich harvest! There is a thin line between the impulsive spending and an actual need. Explaining to them with real life situation will help them be moderate.Experience it to believe it!
With the advent of the plastic money these days, the kids if exposed to the digital nature of the money and threats there in will equip them with necessary caution.
Good money habits also mean that they should understand the social responsibility. Paying back to society in some form or other brings happiness that no money can buy! Being sensitive towards other's needs, if taught at the early stage of life, will make them good human beings and the better citizens as well!
Money is a good servant but a very bad master. This better be learnt early!
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