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REVIEW of Money 41
Third Time Lucky
from young and naive to older and wiser

Teaching the young in their care is an adult responsibility that is usually taken seriously; but often only by the teachers. When it comes to finances, getting the kids to understand that life is about money can be a frustrating exercise. Not surprisingly, once the very young creep into adolescence they believe they already know all that matters; and they fear not the consequences of extravagance because they have some gullible olds on hand to top up their allowances at the drop of a hat. And if these benefactors continually bow to pressure, the sense of value they hoped to instil in their offspring is not only a waste of effort from their point of view; but has set this band of happy-go-lucky teenagers for what may become a lifetime of financial strife.

They will eventually turn eighteen which, in their own eyes, makes them adults. Legally, perhaps, but maturity doesn't always come with age. As for consideration and responsibility, they are too busy enjoying themselves to bother with either. The realisation that they are expected to start looking after themselves may eventually dawn when they approach their parents for yet another bail-out of cash; only to be told: "Okay, but this is the last time."

Have a look at the full article for a few examples of what parents and the young have to face and eventually come to terms with.

To read the complete article or download the PDF of Money 41 click here

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