Should Children Learn to Manage Money?

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Should Children Learn to Manage Money?
Many young people do not know the importance of personal financial ability to personal life when they have just stepped into society. In the article named "Top 10 financial mistakes young people make" (Ho), we can see 10 common but terrible problems that most young people are facing in the current world. The root of these mistakes that they make is they are not able to manage their own money when they begin to work, so that they have all kinds of inappropriate spending and consumption. Because of wrong financial knowledge and lack of basic financial management, lots of financial problems appear in their lives. For example,, young people are overwhelmed by various paychecks and bills. They cannot afford the expenses, because they have no economic planning, and impulse buying. At the end of a month, they will find they do not have their own savings, and even the source of the economy depends on their parents and families. With the time goes by, their life will have a variety of difficulties. Even if they realize these problems, it is hard and too late for young people who has no financial base and management ability to solve them. Finally, they realize the importance of learning to manage money from a young age at that time. If they start learning manage their own money since they were young, these problems will not appear and therefore, in order to become financial success in their adulthood, children should learn how to manage money from a young age.
In the research paper “Foundations of Financial Well-Being: Insights into the Role of Executive Function, Financial Socialization, and Experience-Based Learning in Childhood and Youth”, author Drever begins building on the importance of money management using facts and sources that are reputable and including convincing arguments and facts hence successfully employing logical appeals. The arrangement of the paper in a systematic form helps to create credibility. For example the papers talks of how children are able to know that money does not come easy and also the fact that teaching young children is easy since it is a blank slate and this seems logical because it shows the clear advantages of teaching children about money management. Therefore, while most of the young people do not know how to manage their money when they begin working, they encounter financial problems and realize learning how to manage money from a very young age is very important. Throughout the paper, there are strong sources which strengthen the credibility of the paper and appeals to the ethos as well as building the argument.
Consequently, learning money management can help children establish correct concept of fortune and principle of behavior. Though learning, children know money doesn't come easily, and spend money on appropriate place. Batty explains that " teaching younger children has the added benefits of beginning with a blank slate rather than trying to correct negative habits or misconceptions already acquired or observed" (72). Therefore, this reveals the benefits of learning from a young age because children are a blank slate and easily internalize new information without having contradictory ideas hence...