Quote from: Oluwa-btc on Today at 01:25:13 PM

Quote from: Queentoshi on April 14, 2025, 08:06:57 PM

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.

For the first part you should take note of the age grade of whom you give out money to manage, cause in the real sense you don't expect a 3 old baby to know how to spend the money you give out to them, definitely they will spend it on sweets and those stuff but even with that there are some that would not spend a dime out of it. But that too will tell how well they'll eventually spend it.

For the second scenario I think you can do that to the teenagers and as well teaching them in the early stage is better where they learn what money is and how to manage it but regardless apply both scenario for effective results.

I also think like you. Both scenarios can actually be applied depending on age, because different ages have different needs so it is less effective when the age is still young to apply the second scenario. Basically Children and money are one of the most worrying issues for parents for the future of their children. Every parent always wants to give the best for their children, therefore applying both scenarios will be more effective depending on the age of the child.

Because in the end we have to realize that financial success is not about how much we earn or give, but how well they save and manage it. There are many cases of parents who are successful in financial matters but not with their children. So when children grow up when they have a large income but still have difficulty managing finances because they cannot save or manage expenses. So as parents, we must instill a mindset in children, saving and managing money is more important than just looking for a high income.