What Would We Do Without Parents? Essay

1046 Words Dec 3rd, 2015 5 Pages
What would we do without parents? They celebrate when we say our first words, encourage us as we take our first steps, and lovingly guide us throughout the first few stages of our lives. The simple lessons that we learn from their teachings and examples have lifelong impact. However, with all the responsibilities that parents have in teaching their kids, there is one important lesson that is sometimes overlooked. Namely, the lesson of good financial responsibility. With the large amount of people in our country desperately living paycheck to paycheck, this is an important issue to address. People are charging more than they can repay on credit cards and getting weighed down with debt. Indeed, as of late, “the consumer culture has replaced saving with reverence for spending” (Beutler and Clinton, 22). The long-term problems that come from a lack of wise money habits are immense, and no parent desires these stresses for their child. In an increasingly materialistic world, we need parents who can instill good money practices, attitudes, and values in their children. The process by which this happens is known as financial socialization, defined by Kim and her fellow graduate researchers as how “young people acquire the standards, values, norms, skills, knowledge, and attitudes needed to become financially literate and competent” (669). Although formal financial teaching tends to sit at the bottom of a parenting list, parents need to teach financial responsibility to…

Related Documents