DESCRIBE A TIME WHEN YOU HAD DISCUSSION ABOUT MONEY
When it was?
With whom you had it?
What did you learn?
How it benefitted you?
Today, money is even more important than the fundamental needs of human and I feel lucky that I had an opportunity to discuss the value of money. The fact is that, I used to be very spendthrift but a discussion with my uncle last year brought a huge change in my 4attitude. My uncle, who is a businessman met me on my father's request to teach me the lesson of money management. He started by telling me a story of a millionaire who lost everything just because of being spendthrift. He told me that if we do not understand the value of money and how to use it wisely, we cannot secure our future. To develop the habit of Saving, he told me about student account that I can open with a bank and start saving money and earn interest on my money instead of spending it unduly. In addition, he also advised me about how to grow money because he himself started making money at age 12 by renting comics books to his friends In fact, he gifted me a famous book "Rich dad Poor dad' to understand the basic concepts of money management and reduce expenses. I must say, this discussion brought a huge change and I stopped wasting my money on computer games and chocolates and started to save Last month, I paid my school fees with my savings and my father was proud on me Overall, it was wonderful discussion related to money matters that I had.
FOLLOW UPS
QI How important to teach money management to school children?
Ans. I think it is truly important to teach money management because in young age children are extremely demanding and do not understand the value of money but teaching the skill can change their attitud
Q2 Who can teach this skill better Parents or teachers?
Ans. To my mind parents are in a better position because every family has a different financial condition for that reason it is not easy for teachers to teach it. For example, for some families even 50 rupees matter but for others 5000 do n
Q3. Why some people believe in spending all what they earn?
Ans The fact is that, these days people believe in "living the moment that's why, to save their future they do not compromise with their present.
Q4. Do you think society has become more spend thrift than in past?
Ans I agree, society is more spendthrift now because people have become financially prosperous. At the same time, today market is flooded with consumer goods, such as, mobile phones, computers, furniture, cars and people could not resist themselves from huving these. As a result, the society has become spendthrift.
Q5 Who are better at money management men or women?
Ans. As per my personal experience, I believe women manage money in a better way because they spend money very carefully and always keep family first. In contrast, men have very careless attitude toward spending.