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Have you ever wondered how some people get rich? This is the question that runs through my mind whenever I remind myself of my goal of financial freedom and being financially responsible. It is no secret that achieving this would require me to start saving at an early age. Saving means setting aside a portion of one's allowance or income rather than spending it all. Saving requires discipline to limit and discipline oneself when deciding to buy some wants and needs. This essay will further explain why students and kids like me should save money early, and how grown-ups can help us achieve this goal. Pocket money from parents and income-generating activities are two possible sources of money for kids like me. 



When providing allowance and pocket money, parents should discuss with their children the value of money and how to make wise decisions when purchasing items whether they are needs or wants. It is important to provide quality over luxury and opt for more affordable, durable products. In this way, one saves money without sacrificing the durability of the product. This topic can be best discussed during family activities like grocery shopping. Buying locally produced items instead of imported goods is a wise financial decision. The money saved can be invested in income-generating activities such as stickers or toys.



Aside from helping kids like me learn the value of growing money, giving us the trust to have pocket money will train us to discipline ourselves to not spend everything in our wallets. Furthermore, this is because we are made aware that pocket money should only be used for emergency purposes. I refute the idea that kids should not be given money at an early age like 2 years old. Giving us the trust and the responsibility to handle money (of sufficient value) helps build a strong foundation for how we will manage our finances when we become full-grown adults. Along with this given trust and responsibility, parents should never forget to discuss the importance and value of having something to spend in times of need.



Parents should offer pocket money to high school kids; this will enable children to manage money and handle issues of responsibility. With pocket money, children will be in a position to save, spend, and execute choices on how to use it. This, in addition, will inform them of budgeting and the importance of planning for needs and wants in the years ahead. Pocket money also helps the child in learning how to make choices in the use of money. Some of it is to be saved for special things the child might want, for example, purchasing new toys or going to a mall or an amusement park. Besides, managing one's own money brings in responsibility and helps kids file habits associated with money.



Another way of instilling and teaching kids financial responsibility is by assigning household items for them to buy. In our household, I am in charge of buying my bath soap. This forces me to save money from my allowance, otherwise, I will not have enough money to buy myself bath soap like Safeguard. I will stink, and I would not like that. Also, parents can let kids make mistakes in buying products with poor quality or overpriced items. Parents should not stop them from buying these items but after the kid buys these items the parent should tell them what he/she thinks. Moreover, parents should also talk about the cost of technology like phone calls or texts. 



Children can also save money by opening their bank account with their parent’s help but it requires identification documents such as 1 valid ID, and the minimum initial deposit amount. 



I remember one day, I saw my tutor buying products and then selling them online for a higher price. This taught me how I can make my money grow. Buy something and then sell it. I can start with stickers, I told myself.



Kids and teens can save money by doing chores such as washing the plates, doing the laundry, packing the bed, and washing their parent’s car. They can also tutor siblings on their assignments. These are some fantastic opportunities for young people to make money. In addition to these tasks, they can also help with shopping at supermarkets or convenience stores to pick up items needed.



In conclusion, financial responsibility should also be included in the values taught to us by our parents such as honesty, kindness, politeness, and the like. Practical ways of instilling this are entrusting us with pocket money, and encouraging us to participate in profitable activities.