Teenagers will become adults within a short period, and they are expected to manage their own financial needs when they start earning money. Personal monetary management must be taught to adolescents while they study in schools. This essay will discuss the reasons why emphasizing on debt management and tips on investment is necessary for teenagers.
Adolescents need basic tips on investment and management of their financial liabilities because they do not hold any experience of managing their own money. Parents look after their children's financial needs until they become adults. Hence, teenagers need knowledge on how to save and spend their hard-earned money. For example, children with good exposure to financial lectures will think about wealth generation when they start earning.
Financial debts are usually the result of poor or unplanned financial management. Adolescents need to understand the basic principle of managing their accounts. Credit cards, for instance, helps people to buy costlier goods whenever they are in need, but excessive use of it will end up with heavy debts with the bank and leads to financial problems in life. Learning to manage one own financial accounts is an essential lesson to learn during the teenage period.
This essay discussed why teenagers require lessons on the principle of financial management because it helps them to focus on wealth generation and avoid heavy debts. In my opinion, teaching management of personal finance is essential in this society.
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