Today's children receive almost everything on a platter, and hardly know how to plan for themselves financially.
Besides getting generous amounts of pocket money, kids are also being constantly enticed with material and monetary rewards to perform in school.
Many kids these days go to school boasting about the latest gadgets their parents have bought them, thus making those whose parents could not afford the devices feel ashamed.
Such incidents speak volumes of what drives children these days.
The problem needs to be addressed before children become slaves to money.
Schools should start holding lessons in financial planning, to teach children about the wisdom of saving and not incurring debts.
Unless educators and parents start teaching the young how to save and spend wisely, I am afraid Singapore may become a nation of debtors who spend beyond their means and work their whole life to repay debts.
