Which strategy is better?

[maydna]

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's quite obvious that the scenario 2 is the best for a child to grow in a right way, and understand that money is not that easy to get. Because once you train up your children by giving them money everytime it would going to be very hard for them to have a self control whenever they are being given a huge amount of money, due to the fact that it have became a habits to them. However, unless is those types that understand the value of money, and even though they are just few.

As long as you teach your children to manage their money, they will not lose control using that money. They will know that getting money is not easy and they must work to earn money. They will not waste money for something they don't need but they will split the money based on their needs.

Perhaps, saving will be the first thing you can teach to your children as many parents do to their children. They also teach their children that they need to earn more money to fill their needs. So parents need to tell them that money is something they can use to fill their need but they should save their money for their future.

As their parents, we will give the lesson so they will not make a mistake related to managing the money. We know that they can lose control so we teach them to manage themselves. Every parents want to give the best for them so they will prepare many things for their children.

[fuguebtc]

Logically, Plan B will work better. Because when you yourself supply money to your child, he will not know about the amount of work that needs to be done to earn money. Due to which he will never be literate to work hard. And when you stop supplying money, a financial deficiency will appear in him and that is why he will work hard and earn money due to his need. And at that time, of course, you will get a better result than him. So I will support Plan B. Plan A can also work, but its chances will be very less.

In fact, Plan B isn't perfect either.  Your children can earn money, but if they don't know how to manage and spend it wisely, no matter how much money they earn, it will never be enough. That is why many people work hard, earn a lot of money but do not know how to manage their finances, spend lavishly, without control, making it impossible for them to have a stable life.

In life, to ensure a stable life, we not only need to know how to make money but also need to know how to manage finances to bring results. So don't just use one of the two, combine both to teach your child to become a child who knows how to earn money and manage finances effectively.

[liuka]

In addition, we also have to shape their mentality since they are at home, because the mentality in the environment, especially in the competition to get money, is getting harder now. We see where the job market is not growing along with the development of human resources.

Mentality will help them compete in real life, both in work and the business they will run. Here we also have to look from a wider angle and must be open again to the views held by others. Principles are important, but in holding them we must also not be selfish.

As parents we must understand the child's ability to do any activity so that it is much easier to direct them.
If parents have a business but their children do not have an interest in developing the business, but parents still force it, then this is usually not successful because children do not have a love of work they live and I see this as one of the big problems.

In certain views children must be directed by parents even though sometimes they do not have the same interest.
But in some cases this will actually encourage children to be late to achieve success because he has no same interest as parents in developing business.
Building mentality is important because life is now so hard and children must understand the conditions of life that must be lived and work is not as easy as imagined.

You are right, we can only guide and we cannot force them to have the same interests as them. However, by guiding it means that we also do not release our responsibilities as parents, because as parents of course we have responsibilities.

I understand that sometimes we have to force something, but we must be able to know which can be forced and which cannot. As in directing schools, of course if we let everything depend on them, then they will prefer a school that they think is good and of course with many friends who also go to school there. Well, here our role as parents is very much needed, and in my opinion this can be forced as long as it does not exceed the limit.

[landheer]

As long as you teach your children to manage their money, they will not lose control using that money. They will know that getting money is not easy and they must work to earn money. They will not waste money for something they don't need but they will split the money based on their needs.

Perhaps, saving will be the first thing you can teach to your children as many parents do to their children. They also teach their children that they need to earn more money to fill their needs. So parents need to tell them that money is something they can use to fill their need but they should save their money for their future.

As their parents, we will give the lesson so they will not make a mistake related to managing the money. We know that they can lose control so we teach them to manage themselves. Every parents want to give the best for them so they will prepare many things for their children.

Yes, it is very closely related to parents in providing everything for their children by paying attention to their needs, especially educating them about finances, as provisions for them when they grow up, if they are not taught financial management since childhood, they will lose control, and become wasteful in terms of financial spending if it is not implemented as early as possible, it is an important thing that must be implemented.

[Zackz5000]

Giving a kid Money is just like wasting it because him might not know how to use that money properly unless they are mature enough to control money though most adult can even control money when given to them but the case of children are different such opportunity will definitely be misused just like the prodigal son in the holy Bible.

But I think is best to give them the money to see how they can be able to use it well or manage it properly because it is difficult to survive to from nothing expecially in some country where opportunity can't reach the less previllage ones.

[Felicity_Tide]

As long as you teach your children to manage their money, they will not lose control using that money. They will know that getting money is not easy and they must work to earn money. They will not waste money for something they don't need but they will split the money based on their needs.

Perhaps, saving will be the first thing you can teach to your children as many parents do to their children. They also teach their children that they need to earn more money to fill their needs. So parents need to tell them that money is something they can use to fill their need but they should save their money for their future.

As their parents, we will give the lesson so they will not make a mistake related to managing the money. We know that they can lose control so we teach them to manage themselves. Every parents want to give the best for them so they will prepare many things for their children.

You see, at that very tender age, most children don't understand the difference between wants and needs. They really don't know what they want, so they just want to lay their hands on everything that attracts them at any point without knowing that there is a price that must be paid for it, which is money, and getting that money isn't something to template on because you must work for it.

Like you said, it's good for parents to teach their children how to save.
In as much as a child needs to enjoy being a child, a parent must let the child know that he/she doesn't need a particular thing that he/she has already got. If parents can interpret the principles of wants and needs, then I think the child has learned more than 30% on how to manage finance.

[YOSHIE]

Talking about teaching financial intelligence to children, what do you think is the best practice to enforce this as a parent,

China can be the best example to educate children in terms of financial and investment, they do well the world to admit it.

Children should not give them money, give them a fishing fish to catch fish.
Meaning: Teach them some creative expertise in Creating something or product, give them a debriefing to do crafts and products and you as people can help market what they make, that's the best strategy.
If the goods are sold, of course the economy will flow and give 50% of the income for children as investment motivation, 50% to buy their equipment to be more creative, children can automatically fish themselves and flow the best economy.

[Ricardo11]

As long as you teach your children to manage their money, they will not lose control using that money. They will know that getting money is not easy and they must work to earn money. They will not waste money for something they don't need but they will split the money based on their needs.

Perhaps, saving will be the first thing you can teach to your children as many parents do to their children. They also teach their children that they need to earn more money to fill their needs. So parents need to tell them that money is something they can use to fill their need but they should save their money for their future.

As their parents, we will give the lesson so they will not make a mistake related to managing the money. We know that they can lose control so we teach them to manage themselves. Every parents want to give the best for them so they will prepare many things for their children.

Yes, it is very closely related to parents in providing everything for their children by paying attention to their needs, especially educating them about finances, as provisions for them when they grow up, if they are not taught financial management since childhood, they will lose control, and become wasteful in terms of financial spending if it is not implemented as early as possible, it is an important thing that must be implemented.

To ensure a child's bright future, he needs to be well informed about all the subject from a young age, not only in terms of money but to teach a child all the issues from a young age, parents need to guide their child in all aspects at all times.
It cannot be limited to just formal education, parents also have to always keep an eye on their children, along with financial education, they have to be given moral education, human education, and these are mostly the responsibility of the parents, the role of their parents is the most important behind a child's bright future, so any parent should understand when their child needs which education, not all education can be given at once, each education has a specific time and according to that time they have to be educated step by step.

[Franctoshi]

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.

Those that passed through hard or difficult situations in tend to be more experienced in life than those that finds life easier,  B is the best strategic way to apply if you really want your children to learn funds management, if you exposed them to funds they will tend mismanage funds because they saw it in abundance, but when they have a limited access to funds, they will learn how to manage what they have and from their will be able to manage and appreciate bigger funds.

[Ryu_Ar1]

Children should not give them money, give them a fishing fish to catch fish.
Meaning: Teach them some creative expertise in Creating something or product, give them a debriefing to do crafts and products and you as people can help market what they make, that's the best strategy.
If the goods are sold, of course the economy will flow and give 50% of the income for children as investment motivation, 50% to buy their equipment to be more creative, children can automatically fish themselves and flow the best economy.

Actually, in this case, for me, it depends on the condition and readiness of the child himself. Although this method is certainly good, it cannot be denied that not every child has the same understanding, so we also need to be a gentle figure so that the future goals that we hope for the child to do are not misinterpreted by harsh education.
This does not mean that we have to obey all the wishes of the child, but on the other hand, we also do not want to mature the child, but in the end we also have to wait and see whether our child is ready or not with all the rules that we have prepared to make his future better so that what we think is best for the child does not actually make them distant from us as parents because they feel constrained and oppressed.
Not a few parents who force their will as if they can prepare the best for their children in the future which ends with children who are mentally disturbed because they are unable to cope with the demands of their parents. For me, educating children is quite flexible because on the one hand there must be firmness but on the other hand we must also try to create a comfortable space so that children are not burdened and that is the role of parents because we only provide the best facilities as a form of our love and responsibility for our children but we cannot immediately regulate the future as a whole because children also when they have a transition phase to adolescence or adulthood they can determine their life goals and as much as possible from the beginning we apply good parenting patterns so that children can know the goals they want to achieve without the need for our intervention to direct them as a whole.

[Agbamoni]

It depends on what you mean by enough money. I prefer you give them money that is appropriate for their age. One that is huge but not too huge to do some level of inappropriate things. Why I think the first idea is good, is because they will have to make plans, which is the first thing anyone will do when they have money. They may plan to spend it lavishly or plan to do something good. Once they have their plans you as a parent will see how they value money. I know they wont be so perfect at that age, but if you look closely at them there must be something you will observe that you can teach them to help them do better next time.

[uneng]

Scenario 1
Giving them enough money at a young age to see how well they will manage it.

It's not a good idea, because children who have access to money easily don't learn the value of it and how hard it can be to acquire it. As consequence, you might end raising a noxious individual, who won't care about personal responsabilities and discipline, since everything has came easy to him along the life.

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

It can sound harsh, but you have to teach your children to achieve their own things through their labor. I like this concept, because it puts the individual in contact with reality, where things aren't that easy to be conquered, and focus plus dedication are needed to accomplish your goals.

Progressively, as the child displays genuine interest for learning and improving, he will be given rewards and responsabilities accordingly.

[Dzwaafu11]

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.

Sure. The second scenario is the effective one: go children. If they grow up, they will have that motivation of looking for their own money. Without depending on their parent’s money, as you said already, they will decouple, spending their own money when they make it, because if it isn’t their money, they will squander it without any proper planning about it, so it’s better they earn their own money.

[slapper]

Children should not give them money, give them a fishing fish to catch fish.
Meaning: Teach them some creative expertise in Creating something or product, give them a debriefing to do crafts and products and you as people can help market what they make, that's the best strategy.
If the goods are sold, of course the economy will flow and give 50% of the income for children as investment motivation, 50% to buy their equipment to be more creative, children can automatically fish themselves and flow the best economy.

Actually, in this case, for me, it depends on the condition and readiness of the child himself. Although this method is certainly good, it cannot be denied that not every child has the same understanding, so we also need to be a gentle figure so that the future goals that we hope for the child to do are not misinterpreted by harsh education.
This does not mean that we have to obey all the wishes of the child, but on the other hand, we also do not want to mature the child, but in the end we also have to wait and see whether our child is ready or not with all the rules that we have prepared to make his future better so that what we think is best for the child does not actually make them distant from us as parents because they feel constrained and oppressed.
Not a few parents who force their will as if they can prepare the best for their children in the future which ends with children who are mentally disturbed because they are unable to cope with the demands of their parents. For me, educating children is quite flexible because on the one hand there must be firmness but on the other hand we must also try to create a comfortable space so that children are not burdened and that is the role of parents because we only provide the best facilities as a form of our love and responsibility for our children but we cannot immediately regulate the future as a whole because children also when they have a transition phase to adolescence or adulthood they can determine their life goals and as much as possible from the beginning we apply good parenting patterns so that children can know the goals they want to achieve without the need for our intervention to direct them as a whole.

You’re right: the fishing pole approach works only if the child is ready to hold it. Otherwise, you are giving someone who has not even considered why catching fish is important tools

You discuss emotional, environmental, even existential preparation. Some youngsters will be crushed by the weight of expectation if it arrives before inner scaffolding is developed; others can absorb entrepreneurial thought early on. The economy wants innovation, certainly, but also penalises early scaling of underdeveloped capabilities

How can we encourage independence free from psychological debt? Because the actual debt is about love made dependent on performance. Many adults unintentionally lead youngsters onto paths that seem free but are very structured in order to get them ready for independence. Being a parent is not venture capitalism. It’s early-stage ecosystem building. Neither forced IPOs at eighteen years old nor hypergrowth expectations

[HONDACD125]

Giving a kid Money is just like wasting it because him might not know how to use that money properly unless they are mature enough to control money though most adult can even control money when given to them but the case of children are different such opportunity will definitely be misused just like the prodigal son in the holy Bible.

I think we are talking about adults, those who are big enough to be given money and tested for their financial management skills. It's obvious that you can't expect a kid to have financial management skills or even have any knowledge about how they should manage the money that is given to them, as soon as they get the money, they will run to a shop, and buy whatever they want either for eating or for entertainment and they don't even care how much it costs as long as the money they have is enough for it.

When kids reach a certain age, mostly between 16 to 18, they become mature enough to understand how much money matters, and they also start to understand how they should use the money that is given to them because that is an age in which a person starts thinking about the future or the things that they need to do for a better future, so they will most probably think of using money in the best way possible unless their parents spoil them.

[GigaBit]

The two situations will give children different experiences. That is why I think both aspects are important. If children are given enough money and if they start using that money, then they can get good feedback on how they have used that money throughout the month or whether they have kept it under control. There are some children who, after giving money on a monthly basis, will find that they have spent all their money before the due date. Those children will not be able to spend money in the following days from which they can learn their money management.

Again, if children are not given money, they will learn about how to earn money. Those children will learn to value money. When a child can value money correctly, they will not have the tendency to spend it randomly. Which will help children to become more diligent, they will be able to value money.

[GIF-JOBS]

The two situations will give children different experiences. That is why I think both aspects are important. If children are given enough money and if they start using that money, then they can get good feedback on how they have used that money throughout the month or whether they have kept it under control. There are some children who, after giving money on a monthly basis, will find that they have spent all their money before the due date. Those children will not be able to spend money in the following days from which they can learn their money management.

Again, if children are not given money, they will learn about how to earn money. Those children will learn to value money. When a child can value money correctly, they will not have the tendency to spend it randomly. Which will help children to become more diligent, they will be able to value money.

I agree with you, actually if a child gets everything as soon as he asks for it, then he does not really understand the real value of money, they need to be made aware of the real value of money, and they will only understand the real value of money when they earn some money with hard work. Or, do not give them everything they want, give them a limited amount of money, because if they are given too much financial freedom, then they will develop a tendency to spend money on unnecessary things. So, they need to be made aware of the value of earning money, they need to be taken through different experiences step by step, so that they can maintain their balance and self-control in financial matters and can give up unnecessary expenses. 

[Ryu_Ar1]

Actually, in this case, for me, it depends on the condition and readiness of the child himself. Although this method is certainly good, it cannot be denied that not every child has the same understanding, so we also need to be a gentle figure so that the future goals that we hope for the child to do are not misinterpreted by harsh education.
This does not mean that we have to obey all the wishes of the child, but on the other hand, we also do not want to mature the child, but in the end we also have to wait and see whether our child is ready or not with all the rules that we have prepared to make his future better so that what we think is best for the child does not actually make them distant from us as parents because they feel constrained and oppressed.
Not a few parents who force their will as if they can prepare the best for their children in the future which ends with children who are mentally disturbed because they are unable to cope with the demands of their parents. For me, educating children is quite flexible because on the one hand there must be firmness but on the other hand we must also try to create a comfortable space so that children are not burdened and that is the role of parents because we only provide the best facilities as a form of our love and responsibility for our children but we cannot immediately regulate the future as a whole because children also when they have a transition phase to adolescence or adulthood they can determine their life goals and as much as possible from the beginning we apply good parenting patterns so that children can know the goals they want to achieve without the need for our intervention to direct them as a whole.

You’re right: the fishing pole approach works only if the child is ready to hold it. Otherwise, you are giving someone who has not even considered why catching fish is important tools

You discuss emotional, environmental, even existential preparation. Some youngsters will be crushed by the weight of expectation if it arrives before inner scaffolding is developed; others can absorb entrepreneurial thought early on. The economy wants innovation, certainly, but also penalises early scaling of underdeveloped capabilities

How can we encourage independence free from psychological debt? Because the actual debt is about love made dependent on performance. Many adults unintentionally lead youngsters onto paths that seem free but are very structured in order to get them ready for independence. Being a parent is not venture capitalism. It’s early-stage ecosystem building. Neither forced IPOs at eighteen years old nor hypergrowth expectations

That's the point buddy because in the end it all comes back to love without any coercion. We do as parents expect our children to grow up to be someone even better than ourselves as parents but it cannot be denied that in this case we are also not a god who must do all our will to be accepted by our own children because after all our children have their own desires and we as parents only have to facilitate and provide the best without having to make them lose their mentality of confidence just because of our great expectations.

It is not wrong to direct children to positive things including in financial management because we are also obliged to guide it, it's just that making them mature prematurely is also too much because children also have their own lives and we cannot intervene directly just because we want to achieve it quickly. Patterns that sometimes impose can make children constrained so we need to take another approach so that we can channel our desires indirectly but on the other hand children also do not lose their adolescence because we are deprived of great expectations.

[EFS]

This depends on what you're giving your children the money for. Do the children have an interest in entrepreneurship or is it a salaried job they dream of? All of us, when investing reach our current position through years of accumulated knowledge, capital, mistakes, missteps, gains and losses. To gain this experience, everyone needs to put in their own effort, think it through and take action. Remember that money earned easily is also lost easily. Money earned through hard work is used more carefully.

[Pi-network314159]

The two situations will give children different experiences. That is why I think both aspects are important. If children are given enough money and if they start using that money, then they can get good feedback on how they have used that money throughout the month or whether they have kept it under control. There are some children who, after giving money on a monthly basis, will find that they have spent all their money before the due date. Those children will not be able to spend money in the following days from which they can learn their money management.

Again, if children are not given money, they will learn about how to earn money. Those children will learn to value money. When a child can value money correctly, they will not have the tendency to spend it randomly. Which will help children to become more diligent, they will be able to value money.

I agree with you, actually if a child gets everything as soon as he asks for it, then he does not really understand the real value of money, they need to be made aware of the real value of money, and they will only understand the real value of money when they earn some money with hard work.

That's actually true, the best way to teach a child something is by allowing him or her to have a little bit expirience for him or her to be fully awear about the risk he or she is trying to involve himself. Just like they said that the Best way to learn is by experience. When I was a kid, I dreamt of Riding a bicycle but I never knew how hard learning bicycle is, not untill I was given the opportunity to ride and I sustained a lot of injuries before I learnt it. So if I don't have Bruces, I will never learn. Somethings are left untold till you expirience them, and that is why they say experience is the Best teacher.