Nowadays, young people lack an understanding of how to manage their finances after they finish high school. Explain why they do not know how to manage money, and how this can be changed

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In the current era, youngsters do not know how to spend
money
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and, they have not enough
knowledge
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regarding financial arrangements because of a deficiency of
experience
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and field
education
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this
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problem can clear up through the parents’ guidance and use of banking facilities. The reason why adult people do not know how to manage
finance
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because
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is because
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of a lack of
experience
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and field
education
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. Nowadays, children are not getting enough
education
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due to the
money
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temptation. They want to become rich in a very short time without any effort and
knowledge
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. The
second
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reason is that they do not have at least
experience
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means if you do not have enough
experience
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you are not able to manage the
finance
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satisfactorily.
For example
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, in
this
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era almost younger people can join their family business and get loss or less profit due to the not enough understanding of
finance
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.
However
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, to solve
this
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problem as per my perception parents should give some
knowledge
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to their children regarding
finance
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and should be taught some banking facilities like, how to use a credit card, debit card, as well as should give some pocket
money
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to them so they can arrange by themselves and if they are using by some wrong way
then
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parents should have to teach them.
For example
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, my parent gives me pocket
money
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every month and, end of the month I give my spending calculations to them. To conclude, youngsters have a lack of financial understanding and management skills but it can only solve through the proper
finance
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education
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, parent guidance, and extreme
knowledge
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regarding banking facilities as well as schemes so younger people get to know how to manage
finance
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.
Submitted by nishantitaliya123 on

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