Many people believe that parents should teach their children about money matters. What are the best ways to teach a child about money in your opinion and give some examples from your own experience?
40 minutes, 250 words at least.
It is an undeniable fact that children ought to
be learn from their parents regarding financial matters. In my opinion, there are various methods to comprehend young ones to teach them (you can use pronouns to refer back to children instead of using another noun which distorts the meaning. Wrong word usage: comprehend) about money followed by well-reasoned conclusion with elaboration (Redundant sentence: No need to write this. You’re supposed to write a conclusion. No need to mention that in the introduction. What do you mean by elaboration?).
To commence with, there are a plethora of strategies to teach a child about money. Firstly, parents should make them understand the
imperativeness value of money in every domain of life such as purchasing necessities like to being literate (You’re not using the right/ appropriate words.); they need school and college fees, (strange sentence. Fees for basic necessities?) to fulfil all the basic necessities of human beings such as food, clothes, and a house. Moreover, it is also used in emergency situations like expenditure regarding prescribed medicines and surgeon fee (expenditure and fees are not emergency situations.) if someone in family hospitalized or injured severely (Missing context: Children). If family members have ample amount of money in their bank account they can save their loved ones effectively (There is either saving or no-saving. Nothing called effectively saving.) by paying (Missing context: Children). For example, a recent survey conducted by State bank of Delhi observed that people who had enormous sums in their saving account they were more capable to pay of paying medical fees to save life of their family members without taking any debts debt (any is singular) or depending on others financially. (This is not a STRATEGY to teach children about the importance of money. Lost task response.)
In addition, parents can teach their (refers to parents) offspring about saving in the form of piggy banks and opening their (refers to children) bank account from their childhood (Pronoun mistake: One pronoun can refer to one noun only. The question is about the importance of money. Not saving. Task response. In addition, parents can teach children about the importance of money by enabling them to save small sums in a piggy bank.). When a child inculcates the habit of saving from early days of life then he becomes habitual of it (You need to explain this method. Not how it solves future problems. Read the question again: What are the best ways to teach a child about money? Explain the ways.)
for future endeavours and he would handle coming life critical situations more appropriately regarding financial matters. For an instance, my elder brother always used to save his pocket money in a piggy bank and now at an adult stage he is more financially stable as compared to other spendthrift siblings because he indulged himself in saving from childhood period.
The question is not why children should be taught the importance of teaching money. It is what are the methods to teach children about the importance of money. The focus is on METHODS.
In conclusion, the best ways to teach a child about money are to save it and to understand
the its value of it from early days. It is hoped in future government would implement some productive ways to teach children about money matters.
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