All the more important
Some parents may argue that they never needed to learn about stocks and shares till they started earning, so why should their children? The answer is, times have changed, exposure has increased and children are being targeted for their money power earlier than ever before. It only makes sense to arm them to deal with the financial world and its possibilities.
"Today's kids have grown up mostly in a boom economy and they have money," points out Lovaii Navlakhi, managing director, International Money Matters (IMM), a Bangalore-based financial advisory firm.
"They know ATMs and are bombarded with ads for financial products like credit cards, from a very young age.
They leave home to study elsewhere much earlier than their parents ever did; they also start earning earlier through internships and summer jobs. Despite all this, they are sadly ignorant of the basics of money management."
Simultaneously, consider that living standards today are miles apart from what you may have known as a child: the pressure-even on young kids—is to spend in increasing amounts.
"There's always the temptation to go in for better living today over saving for a better tomorrow," agrees Navlakhi. "Learning to invest early will help children be more responsible with their money later in life," he adds.
Image:A child plays with a scooter | Photograph: Diptendu Dutta/AFP/Getty Images
Also read:
World's 10 biggest malls
Advertisement
