Which strategy is better?

[Queentoshi]

Talking about teaching financial intelligence to children, what do you think is the best practice to enforce this as a parent,
Scenario 1
Giving them enough money at a young age to see how well they will manage it.

Scenario 2
Not giving them enough money, so they can work for their own money.

Put these conditions in mind,
In the first scenario, it is a close condition where the parent intends to teach the child early how to manage money, and in the second scenario, the parent wants the child to learn from their own experience.

[Ambatman]

Everybody are different
A strategy that would work for party A may not work for Party B
So you have to understand the child first before picking what can be considered best
Not excluding the fact you have to be good at implementing it.

Personally prefer scenario 1 because it tells me what am working on
The essence is to see how well they manage money
Why not see that when they have lots to spend rather than little.

Like they say, power changes a Man.

[Joy- maker]

I think the second scenario is better for children, because not given them enough money will make them wake up and work hard to make their own money and it will also make them to be decipline when spending money.
the first scenario is the reason why we have  lazy youths all over the world who are just roaming about doing nothing for themselves, because their parents was always giving them money so they see no reason to work for their own money and most of the children who fall into the first scenario end up being useless in the future, please note this I didn't say all the children that fall into the first scenario end up being useless I said most of them, because am talking from experience.

[Findingnemo]

Plan B, that's the most effective way if you want to teach your kid some real lesson and the significance of financial freedom, but it can go either way so you as a parent should ne there to guide and help but not giving things in a platter that makes them lazy and that's what we called spoiled rich kids, isn't?

But there's no one rule that will work for everyone so it's also important to give what's the best as of your financial status. But an average middle class parent give more comfortable living conditions that is why they fail when they have to face the world on their own.

[Orpichukwu]

Scenario 1
If only it has been put into there consciousness that the money is for a test to see how well they can manage there finances or money then giving them enough money to see how well they can manage it is a good opinion too but when it's a constant financial support giving them enough money will only make them begin to think that money is easy to get without proper knowledge of how difficult it is to make the money.

A good example that I know is Cristiano Ronaldo's son who had abundant of money and began to miss use it because he had so much but was later restricted from using money for him to learn so giving children too much could ruin the intention.

Scenario 2
Teaching them how to manage money, how to make it for them selves is the best.

[GeorgeJohn]

Teaching someone how to make money you must or not give the person money before you teach the person they impact of making money, what children mostly need during teaching is attention and also the basic Foundation of what you are in parting on them if your transfer in negative information to them it is what will embedded in them because it is what they brought up with

But if you want to reach them with the money by gift to them money, I think they will not take it serious to make their own money, for me the ability to teach people how to make money is through information and practical

[Rockstarguy]

Talking about teaching financial intelligence to children, what do you think is the best practice to enforce this as a parent,
Scenario 1
Giving them enough money at a young age to see how well they will manage it.

Scenario 2
Not giving them enough money, so they can work for their own money.

Put these conditions in mind,
In the first scenario, it is a close condition where the parent intends to teach the child early how to manage money, and in the second scenario, the parent wants the child to learn from their own experience.

Giving children money or not giving them money has nothing to do with financial intelligence. Most children don't even see money to be anything because they believe they have parents who are there to provide anything they want. There is a way you expose money to children it can even affect children negatively.  Children can learn financial intelligence from the lifestyle of parents as they grow and watch parents how they manage money.  The lifestyle of parents has more effect in teaching children on how to handle money than giving them money.

Encouraging children to save and having a financial interaction will even be more effective and as they grow up it will be easy for them to manage money based on what they have been taught from their parents.

[Josefjix]

None of the scenerio works for kids:

What's best for kids is to learn how to leverage their talents as well as their potential to carter for themselves, some kids are good at painting, dancing, singing and others, so why not use those natural skills to provide service to the society while the parent protecting them and using the money rewarded to care about the kids thereby teaching the kids how to manage his funds.

Doing this will let the kids loves himself/herself more and even unlock the potential in him/her to perform more of her abilities more and more, it's up to the parent to manage the rewarded funds untill the child is mature enough to control the funds by himself to the way he wants.

[kotajikikox]

Talking about teaching financial intelligence to children, what do you think is the best practice to enforce this as a parent,
Scenario 1
Giving them enough money at a young age to see how well they will manage it.

I am more favorable of this one. They will not know how to use money if they did not have one to begin with. Just teach your kids enough about the concept of money and being responsible and they’ll reinforce it themselves.

Scenario 2
Not giving them enough money, so they can work for their own money.

This will do nothing but make your kids resent you. We work hard so our kids live a comfortable life so why would you deprive them off of it?

[Alpha Marine]

I think it's a mix of both. You have to give kids money, and at the same time, you need to teach kids how to make their own money and how to manage money.
I believe kids should know about money from a young age, but they have to learn it gradually. There is a limit to how certain kids may understand different things, so you just have to look for a way that fits the kids.

It doesn't help being rigid when raising children. Try to be dynamic. Following the "this way or no other way" route won't always work; in fact, it rarely works.

And I think this topic should be in "politics and society"

[Dzwaafu11]

For my own opinion, if you have a kid, you must do both things you mention: you will give your child money and also introduce them to work for themselves. However, the thing is that the child is yours; you may do what they will be happy with. Even if they have where they are going, you know they will start earning as soon as they get introduced, so it will take a lot of time before they start getting their own money.

So the first and second scenarios are something you must do as long as the child is yours; I don’t think there is a way to escape that.

[AYOBA]

The second scenario is more better is not that a parents cannot give his children money, but release to much of money for the children is the leading some child to do what pass their power a moment they begin receiving big amounts of money they will not give anyone respect claim that their parents has money which is not proper.

Their some kid that know matter their parents rushed money for them it will never show for their body hence they will keep this money on their account or for their mothers account till after they grow up before they can use the money, because by then know how the life goes they will can only begin think of business that can generate more money for them; by creating another way of success of income.

[peter0425]

Everybody are different
A strategy that would work for party A may not work for Party B
So you have to understand the child first before picking what can be considered best
Not excluding the fact you have to be good at implementing it.

True that children are each different and different parenting styles must be applied however I also think that a child will turn out exactly how you raised them. If you raised them right, they will end up well. So, you also have to consider teaching them from an early age and build foundations that will be later on used in life.

[Kemarit]

Talking about teaching financial intelligence to children, what do you think is the best practice to enforce this as a parent,
Scenario 1
Giving them enough money at a young age to see how well they will manage it.

Scenario 2
Not giving them enough money, so they can work for their own money.

I think the first one will be a better choice in my opinion. It's like they will understand the effort:reward ratio. So they will have to focus into working something to achieved that they wanted it life. Let's say they want to buy their own car, then they will work for that and manage their time and money to get that goal.

So you are teaching them the appreciation of money, and then what we call delayed gratification, which is I think a good mindset for them to learn very early in life. And this can trickle to everything like in investments or their 401K and any savings that they will do.

Also they can understand the "needs vs wants" dilemma and which one to chose.

[kawetsriyanto]

First all of all, giving enough money for our children is a must for any parents. You need to understand that giving enough money doesn't mean giving an excessive money. When you say "enough money", it means the money is used for the basic necessities for the children. But, if you give a lot of money or an excessive money for children, it is surely a mistake. Children who always get what they want, they will too depend on the parents. So, they will be difficult to be independent. As parent, I always learn my children to be an independent individual since they were kids. So whenever they are already capable to work, I will lead them to work according to their ability. The main goal is not intended to get money to fulfill all their own necessities but it is a way to make them learning about working and understanding the value of money.

[Reatim]

Talking about teaching financial intelligence to children, what do you think is the best practice to enforce this as a parent,
Scenario 1
Giving them enough money at a young age to see how well they will manage it.

Scenario 2
Not giving them enough money, so they can work for their own money.

to be honest i think that there is some pros and cons for both approaches like if we give them money they will have first hand experience of what’s it’s like and they can realize themselves how money works and why they should be careful with it

on the other hand the 2nd option allows for them to be disciplined and not always dependent on us parents

[SmartGold01]

Best way to teach teenagers or adult how to manage money is to asked them to source for a job and when they secure it they would know it's that difficult for them to receive that amount while working. Teaching them at home like culturing them about how to use and spend money is also a better choice because most children or people aren't that careful on how they spend money possible It could be that it's inherented of their wealth and they could be able to maintain such wealth then watch out to see the wealth would vanish because they don't know about finance and how to secure sustain them for long.

[Promocodeudo]

Talking about teaching financial intelligence to children, what do you think is the best practice to enforce this as a parent,
Scenario 1
Giving them enough money at a young age to see how well they will manage it.

Scenario 2
Not giving them enough money, so they can work for their own money.

Put these conditions in mind,
In the first scenario, it is a close condition where the parent intends to teach the child early how to manage money, and in the second scenario, the parent wants the child to learn from their own experience.

It is the duty of parents to provide for their children I think this is a necessity but them enough money depends on what they actually need the money for, you must have to teach your children financial value, don't expose to money much,make them to understand the importance being desciplined in things that relate to finance, they must be aware of how to build their own wealth from scratch without depending on any person, i mean financial independent, many of us come from a home where our parents are very desciplined, we know how we got to where we are today.

I think a child learning his own experience is also good but there must be a heads up by parents their children, lets not forget that in any thing  thatv concerns children we must be very careful because at this age we may encounter many problems by putting their heads straight that we also give them time to adapt to things, if we consider giving children enough money to see how careful they could be in managing it as you said may be disasterous because these little ones may not be able to manage it, although it all depends on their IQ  but if things doesn't go as you planned you won't blame them much because at this time they may not necessarily think for themselves, they are easily carried because they got no responsibility, I think it is parents responsibility at all time to tell them how important it is to save if they get a job in the future so that they estabkishe on their own without solely depending on salary or wages.

[yhiaali3]

I don't think you'll get a single answer to this question, because the answers will vary depending on each person's thoughts and beliefs. Every parent will try to implement the scenario they see as best for their children. Therefore, I believe some parents will choose the first scenario, others the second, and some may not like either scenario and choose an alternative plan for their children.

For me, I choose the second scenario, which is not giving them enough money to enable them to work on their own, because not giving them money teaches them to be self-reliant. Don't forget that life is difficult, and you may not always be by their side to provide them with everything they need. Therefore, it's best for them to learn to be self-reliant.

[cabron]

Scenario 2
Not giving them enough money, so they can work for their own money.

This scenario is much better so that they know how to value money when he hasn't much of them. Less money will be force him to spend less while you also encourage him to invest in something. This will make him manage the money even in the smallest amount.

The scenario 2 is for the rich family, you don't wanna show him how wealthy you are that he may not even try harder. Because he sees rich parents is there for him.