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October 28, 2012

Essay on Money Management and Teenagers


Money Management and Teenagers
As soon as a person steps into the realm of his teens, he flexes his muscles in order to prepare for a phase of life which is marked by extra liberties and additional immunities, greater indifference towards responsibilities and fulfillment of all aims and objectives.
But then suddenly he crashes head-on with a reality in which the importance of rectangular shaped paper and the portraits of people like Benjamin Franklin, Abraham Lincoln and George Washington increases unprecedentedly. If you have guessed it by now, I am talking about ‘MONEY’. Teenage does not enter alone it is in fact accompanied with a sudden rise in credit card bills in the form of expensive brand shopping, visits to night clubs and partying late night with friends and girlfriends. In case if the question is asked who will pay for all these expenses? A usual response one gets is in the form of shrugged shoulders ‘my dad’
It is not something exceptional that being a teenager makes a person most lethargic towards money handling affairs in life. We simply are not concerned about the ways through which we can actually save money but lost in the midst of the glorious teen age we completely lose control over money saving strategies believing that our parents are there to fulfill all our needs and requirements as it is their prime responsibility.
In a social set up like US where most teens do not live with their parents and unlike other cultural contexts get themselves employed to satisfy their needs start believing that they have turned increasingly independent and thus indulge themselves in all different kind of unhealthy, immoral or sometimes even illicit activities. It is also important to mention here that living alone does not mean that they are completely cut off from their families. Their families are ever ready to provide them any kind of financial assistance if they fall short of money, but the problem still lies that all these steps does not provoke any significance or concern regarding money management. (Crayton, 2006)
They are convinced that whenever they are in state of financial turmoil their parents will always be there to bail them out. Thus they keep squandering their money in completely futile and frivolous exercises such as buying an expensive and latest cell phone or electronic gadget, brand oriented garments and spending more than ever on drinking and planning tours with friends every weekend.
The entire doctrine that actually victimizes the thinking scope of a teenage is that he is indoctrinated to believe that teenage is the only phase of life where a person has the liberty to do what he intends to, otherwise once employed or after a becoming a family man, your personal chapter of life reaches its conclusion.
The problem remains that teenagers cannot learn or realize the importance unless he is confronted with the bitter realities of life, when he enters the practical arena and begins to comprehend the difference between the tedious and troublesome task of earning money and the relaxation and leisure one gets in spending it within seconds. It is at that time when he begins to realize that he should have leaned something valuable and precious for his future life during his teens. 

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