When children understand the value of money? Well this is some

1. 
   .When children understand the value of money?
   

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  Well this is something I have never though about
  
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  It seems to me that children can recognize money at the age of two
  
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  Because I have a 2-year-old niece who knows when she receives money money from others
  
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  But I don’t think they understand value by the age of 4 or 5
  
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  This is when they are able to handle, spend and save money.
  
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  By the time children are 7 they understand that money has to be earned
  
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  they start to have money of their own
  
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  and make decisions about using it
  

2. 
   should parents reward children with money?
   

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  This is the kind of topic that is debated a lot
  
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  On the one hand, when children are given money as reward
  
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  for doing household chores around the house
  
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  it helps to shape a good behavior
  
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  and helps children understand money is not something that is infinite
  
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  or it is something that is earned with hard work
  
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  this way they learn to value the money and be more wise when they use it
  
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  having said that,
  
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  parents should not hand out money for everything kids do
  
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  there should be tasks that kids have to do to help as a part of a family
  
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  for instance, my father used to reward us money
  
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  when we did chores around house without him telling us first
  
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  so we learned how to take initiative
  

3. 
   teach children to save money?
   

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  Absolutely,
  
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  To my way of thinking,
  
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  it would lay foundation that they can build upon to do well in life
  
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  Without knowledge of money,
  
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  it is extraordinarily difficult to do well in life
  
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  day in day out, whatever we do:
  
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  clothes we wear, what we eat, what car we drive – you name it, is involved money
  
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  children should understand that money is not just for spending, they should also learn to save money
  
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  so they can learn how to make decisions about using it
  
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  they learn how to be wise with their saved money
  
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  children realize that for every choice they make, there will be consequences
  

4. 
   why people use rarely cash?
   

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  I guess we are turning into cashless society
  
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  Many opt for using their credit cards when they buy things
  
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  Or they buy more and more products in the internet
  
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  As it is easier to carry them in a wallet or purse,
  
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  paying with credit cards is much more convenient
  
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  no need to carry loads of cash with them
  
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  plus,
  
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  and also people feel safe, do not have to worry about losing their money
  
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  credit cards can be instantly cancelled after it is lost or stolen
  

5. 
   nowadays people value money the most?
   

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  Definitely
  
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  Even though it is a cliché that money cannot buy happiness
  
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  But money has become a very powerful tool
  
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  It can serve as a foundation to be happy
  
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  Money plays a crucial role in building better quality life
  
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  and gives people fewer financial worries
  
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  Without money it is quite challenging to get better education,
  
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  To receive necessary health care or travel around the world
  

6. 
   What young people spend money on?
   

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  Well I guess, it totally depends on the financial capability / state
  
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  But generally speaking,
  
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  Mostly they spend money on necessities like housing, food, clothes, education, of course,
  
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  And also entertainment such as going to cinemas, concerts
  
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  Plus
  
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  We can put gadgets on the list as well,
  
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  as they are becoming things everybody needs to have
  
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  Financial strong young people spend their money travelling, buying luxury items, cars, jewelry
  
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  Many young women care about their appearance and beauty,
  
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  So they might also spend huge sums on fitness, cosmetics and beauty products, as well as branded clothes
  

7. 
   Why young people waste money? Waste money == squander
   

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  Well there are actually a variety of reasons
  
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  Primary reason in my opinion is because of competition among young people,
  
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  Which pressures them to be and look better than others
  
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  For another,
  
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  They tend to show-off and like to keep up with the latest fashion trends
  
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  They want to own latest models of gadgets and wear fashionable and trendy clothes
  
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  Another explanation is that they don’t actually earn money,
  
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  but their parents support them financially
  
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  they don’t really value and appreciate money
  

8. 
   do people in your country like to save money?
   

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  Absolutely,
  
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  Saving money gives people financial flexibility
  
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  They can buy things without worrying about getting a loan from banks
  
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  Also
  
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  It gives them peace of mind,
  
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  They can also have a secure future
  
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  as they have saved up money in case something bad happens / for rainy days
  
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  having a emergency fund makes life less stressful
  

9. 
   best way to save money?
   

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  Well, one way of saving money is keep track of your earning and spending
  
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  Which allows you to know where your money is going
  
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  And also putting a limit on how much you should spend on your needs every month
  
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  Make sure that you don’t spend over the limit you set for yourself
  
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  Another feasible tip is that
  
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  People should set savings goals,
  
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  like certain percentage of earning should go into saving account
  
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  I have a friend of mine who saves 30% of his income
  
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  He was able to buy a house and a car using this strategy