Al-Riyadh Arabic newspaper recently interviewed a number of people to shed light on the spending habits of their children and the need to encourage them to put aside money they get in allowances and gifts from parents and relatives to fulfill their future needs.
Maram Al-Yousuf, a school teacher and mother of four, said: “Today’s children don’t know the value of money. As one engaged in a profession of developing desirable behavioral changes in the younger generation, I am always keen on inculcating a set of good habits among my children at home as well as at school. These values include making children aware of the hard work and relentless efforts being exerted by their parents for the sake of their wards and the real value of the money they spend.”
Maram says that she gives her children monthly allowances.
“I have also fixed a monthly amount for fulfilling their requirements, including buying candies and the like. I instruct them that they have full responsibility of spending each riyal,” she said.
Huda Al-Rajih says that she has experienced the ill-effects of not teaching her children the significance of good saving habits.
“I am fed up with children demanding money every now and then,” she told Al-Riyadh Arabic daily. “They always ask me for money as if they think I am sitting atop a mountain of money that will never diminish. What shall I do with children who fail to realize the actual burden behind earning money to meet miscellaneous expenses?” she asks.
In any case, Al-Rajih is satisfied that her children are not spending money in a wrong way.
Deema Al-Otaibi says that she has learned the habit of saving since her childhood. “My mother taught me the importance of saving every single riyal and keeping it in a special money box,” she said. “I use the money prudently to fulfill my needs.”
Saham Al-Azam, assistant undersecretary for community and social service at Imam Muhammad bin Saud University in Riyadh, underlined the need for developing saving habits among children when they are very young.
“Parents should be diligent to make their wards fully aware of the value of money and spend them prudently. The children should be made aware of the merits of saving and demerits of wasting money,” she said, adding that there should be an arrangement to save money received by children as gifts from elders.
