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Money and children, here is the greatest polytheism for parents

Money and children, here is the greatest polytheism for parents

Those who are a little older grew up with classical music Pocket money Weekly provided by their parents to allow them to satisfy some whims but also to learn how to manage money correctly, which is not always a given. Today, this may happen increasingly and in a different way.

With the pandemic, online commerce and therefore i Digital payments They literally exploded. We are increasingly moving towards the end of cash. Card payments and digital app payments are increasingly taking over our lives. Undoubtedly, this brings greater convenience but also saves a lot Risks Such as not knowing how to manage money properly.

Paying digitally leads to spending more because it is an abstract expense that is not accompanied by the physical gesture of opening the wallet and handing over the banknote. Those who pay online don't actually see the money coming out and therefore don't realize how much they're actually spending.

Digital payments also risk creating problems children. Today it is still inconceivable to see children getting their pocket money from digital money but in the future? If cash becomes more obsolete, there is a risk that very young children will get a bank card or app to which their allowance will be charged.

This is something that experts define as worrying. Children are unable to understand how to manage money properly, because they cannot see it physically, and the danger is that they may waste it excessively through digital payments.

The importance of financial education

With the boom in digital payments, it's already not easy for parents to know how to manage money, let alone kids. What is unfortunately missing is financial literacy and teaching proper money management. Something that is never talked about in school but is a topic that should be addressed at an early age instead. At home, it's the same, hardly a parent explains to their children how to properly manage money and how to think correctly and be self-controlled. This is because in most cases it is not known.

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The strong tendency of today's youth to own consumer goods and the possibility of receiving the product today and paying for it tomorrow represents a danger. The ability to track your finances and individual budget items has become more important today.

Learning how to handle money is very important today more than before. If it is easier to keep expenses under control in cash, it is more difficult with digital payments. Experts advise parents to talk to their children about money and the cost of living. Parents also provide an important role model with their values ​​and purchasing decisions. The advice is to always keep pouring Pocket money Cash and do not switch to digital payments.