Learning To Earn While Young Is Beneficial In The Long Run

Let me ask you this. How do people react when you say “I want to earn my own money”
while you’re young? There are some ways this would turn out, they would help and encourage
you or the most common one just pass off the idea and ask you these lines “Why do you want to
earn your own money? you get to eat, you're living under a roof.” or “You're still too young to
think about that, go and enjoy life” or just get mad at you partly because you’re indirectly telling
them what they’re earning is insufficient. These are some common lines you would hear when
this topic is talked about. It’s common knowledge that the adults are supposed to earn money and
provide for the family while the children just either play or study but due to changing times this
common knowledge should be flipped on its head. Learning to earn money at a young age
teaches the youth how to earn safely, how hard it is to earn money, and importantly the value of
money.
The first concern would be that it isn’t safe for the youth to earn money. They wouldn’t
know what to do. According to the FTC, about 2.2 million reports on fraud from US consumers
were filed just in 2020 alone. It was reported that more than $3.3 billion was lost to fraud in
2020, $1.2 billion lost in imposter scams, and about $246 million lost in online shopping.
Knowing this the youth can avoid building business or buying and selling as a way to earn
money. They can resort to using their talents or knowledge on certain topics such as if you’re
good in math or science you could do some tutoring to make money. Parent supervision and
guidance are still important to avoid the youth getting harmed.
Next, is how hard it is to earn money. Making money is hard it really requires hard work
and dedication to earn money there are no shortcuts and lots of risks involved. It may also be
repetitive and boring and if you think of a child the words hard work and repetitive do not really
fit do they? A child starting young learns to work smart not hard, they slowly learn how to use
what they currently know and have to their advantage to earn. The support of parents also plays a
big role in motivating the child to persevere even though it’s hard and tiring.
Lastly, the value of money. Money’s easy to spend, when you have the money you’re
tempted to just use it to buy whatever you want. A child when they have money they would
either spend it on food, toys, or things they won’t even be using. By learning to earn at a young
age they develop a sense of responsibility with money they learn the skill of saving money
instead of spending on impulse and thinking before buying do I need this or do I want it.
In conclusion, learning to earn at a young age shows lots of positive effects on the youth
such as a child knowing how to earn money safely, a child knowing how hard it is to earn money
and, a child knowing the value of money. Yes there are still many uncertainties that may harm
your child but that’s where how you raise your child through this experience comes in, it’s either
you help them learn or prohibit them from learning.

References

https://www.ftc.gov/news-events/press-releases/2021/02/new-data-shows-ftc-received-2-2-millio
n-fraud-reports-consumers