In the past children were taught how to save money, but today they only learn how to spend it. Do you agree?
It is often heard that nowadays children know only how to spend money, but not to save it. Mostly, elderly people have this opinion, whereas the young generation argues that children are taught to save as well as spend.
Those who believe that there has been no change that children are taught to save money nowadays also have a number of examples to point out. For instance, in many countries, especially in the West, children are encouraged to save money in the form of depositing whatever they earn in bank accounts opened exclusively for children by their parents. In addition, at present children are more aware of what they want to become in their life, what dreams to be fulfilled and the financial needs of those goals.
On the contrary, it is quite obvious that compared to previous generations, there has been a new stress on spending, primarily due to changes in the lifestyle of people. As part of this new lifestyle, children get umpteen number of clues on how to spend enough and live in the present rather than save money for the future needs. Furthermore, consumerism combined with the widespread availability of credit plays a big role in ensuring that whatever earned is spent. Most importantly, the consumer market purely dedicated to the needs of children is ever growing so that even if children are taught to save money, they wouldn’t be able to do so.
To sum up, I would argue that children nowadays are not taught enough to save money and control their spending and instead they are actually encouraged to spend more.