Money is an important source of bread and butter for every human. Without it life becomes far more miserable and things go haywire, regardless of the status of any person. It reflects the economic condition of a family as a whole. Having no financial strength is like a body without soul. The importance and magnitude of money surely cannot be measured with family members but it is the only source which helps everyone survives in this chaotic world of wealth hunger. In today's modern world people have become far more career-oriented than before but the sole motive is to keep the family condition stable and make it better every year. All families have kids and they too gradually need to learn the importance of money, no matter even if they are 20+ adults.
The most important factor in the betterment of a family's condition is the increase in wealth which cannot take place until and unless the next generation is taught the method of valuing money. Children surely are small reckless brats who just want to enjoy life and forget present and future for some petty pleasures which exists only because of the money they have in their pockets. It's always said that till the pocket is warm nothing can depress a person. The saying has held the ground firmly because those who loose their money experience it first hand and realize the grave mistake they do for their whole life.
Children during schooling get influenced by a few rich students and tend to copy them by getting money from home. This age is quite ripe to learn about the loss of money. If a child understands the meaning of loss of finance then there won't be any kind of problems related to handling wealth in future. Parents should start by giving them little money in which they can have a bottle of soft drink at any time of the day. They need to learn the essence of wealth and its real value. Such things cannot be taught verbally, only experience makes them understand the hard truth of life.
The allowances can be provided on certain conditions which they will have to fulfill if they want their monthly allowance to be a regular one. In this way they will get used to doing domestic chores and learn to be independent gradually. This exercise can change their thinking too as children can then comprehend the sole motive of their parents behind it. This learning only comes with gradual maturity which shows up from time to time. Children and youngsters should also be taught the importance of saving money and its need.
Savings are a person's only finance which is left once retirement takes place. The habit of saving will help them in the long run to a great extent and make them wise citizens of their country. Youngsters need to remember to spend their money wisely rather than on just their enjoyment. Enjoyment is a part of normal human life but the real lessons need to be learnt to be successful in life. Therefore parents should guide the future generation at all times in order to make them good people.