Question

State 4 reasons why money must be kept out of reach of children​

Answer 1

Answer:

Saving helps you see what’s possible.

Although some saving relates to addressing emergencies you might not want to think about, saving also connects to positive goals. For example, maybe you’ve always wanted to take an art class or go on a vacation in another state or country. When you save, you learn to see the world and your life for what they could be, not for what they are. That way of thinking is a big key to staying inspired, motivated and strong.

Saving lets you eventually buy things you might not have enough money for right now.

If you’re a typical kid, the money you get from chores, an allowance or a job like babysitting probably doesn’t cover everything you want or need. You might feel like certain items are unaffordable because of this, but that’s not necessarily true—they can be within your reach if you simply wait and keep setting money aside toward your purchase. In this way, saving changes “no, you can’t” into “you can, but later.”Conclusion

Saving is something every kid should do. It lets you buy items that otherwise might be out of reach, keeps you out of financial trouble and makes you more independent. Often, it means you can do more, as you have more choices or get additional cash. Subsequently, you can feel happier. Most importantly, saving gets you to keep your eye on your dreams. Set goals. Look ahead. With saving, you can make things happen.

Explanation:

Answer 2

Because of the following four reasons, money should be kept out of the reach of youngsters.

Explanation:

1. Taking on a significant amount of debt: Parents who are continually repaying debt owing to bad money management, taking too many loans to fit into a certain lifestyle, or not paying credit card bills in full will be unable to balance their income and outflow, keep to a budget, or even save enough to achieve their goals.
2. Spending excessively or being overly frugal: Parents that live life a la king-size, overspend on their children, and blindly fulfill all of their demands are setting their children up for failure. It is not required for the child to have the money to live the kind of life he has been accustomed to as an adult, and he may either become disappointed and severely in debt, or resort to unethical ways to attain his goals.
3. Being a spender who is rash or impulsive: This behavior has the ability to throw the budget off and derail the objectives. There is no way that the parents can stay to a budget or limit savings and spending if they are prone to making impulsive, large-ticket purchases or indulging in too many holidays or outings on a regular basis. This may imply abandoning vital objectives or foregoing requirements.
4. Not being charitable or being excessively charitable: If parents are charitable and provide financial assistance to those in need, whether it is employees or charitable organizations, they are teaching their children that if they have the means, they should give back to society. If the child, on the other hand, does not witness a charitable deed, he will believe that this is the way to live and that he has no obligation to aid others.