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.
Personally, i support option 2, because at an early age, it’s hard for a child to truly learn how to manage a certain amount of money. Even though it’s not a bad idea, we all know that children are curious and interested in everything at that age.Scenario 2, where you give the child only a minimal amount of money, can have its advantages because the child will learn to appreciate it and understand how hard it is to earn money nowadays. This also provides additional assurance that they will know how to save in the future.
Definitely option 2