A lot of young people do not know how to manage their money when graduating from high school. What do you think are the reasons? What can be done to teach them this important skill?

Financial management is an art that needs to be acquired with a lot of experience in life. In

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contemporary world, the majority of young people do not know how to maintain their earnings by the time they are graduated. There are several

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like lack of accountability and responsibility, which can be inculcated in them with some basic guidance.

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essay will cover in detail the above-mentioned

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and lessons to overcome

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problem. On the one hand, there are important

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that can be considered for

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situation.

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with, in

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modernized world both parents should equally earn to manage expenses for their entire family including children studies.

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, the daily pocket

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provided to kids while schooling is quite high,

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that, they are given with freedom of spending that as per their wish.

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, juveniles are missing the accountability of

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and never worried about the efforts that are required to earn

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.

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, 7% of GST collections of India are coming from expenses incurred by the school students.

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, all the family members should teach children about the value of

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and the efforts that are going into the process of earning

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as a lesson.

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, the responsibility of saving

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wherever it is possible to be taught to juveniles in every family.

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, parents should start to limit expenses towards buying the expensive gifts as and when they insist,

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, kids will attain the same kind of attitude in future to buy whatever catches their eye attention.

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, they will be able to adopt the

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management culture which helps them in future. To conclude, a lack of accountability and responsibility are important

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for not understanding the importance of financial management at a young age. It should be taught as a lesson to every child in their school-age to understand the importance of monetary value.