Describe a valuable item that you would like togive as a gift

Part 3 Follow Up Questions

1. What do you think young people save money for?
   I think young people save money for mainly two things, technological gadgets like smartphones,
   laptops and computers and clothes and secondly, branded clothes and fashion accessories like
   clothes, belts, purses and so on. Besides that, in some countries, youth also save money for higher
   education.
2. What is the difference between men and women saving money?
   I don’t think there is any difference. It really depends upon the individual rather than the gender. If
   the person has a strong willpower, they are able to save money easily. Otherwise, it can be really
   hard.
3. Do you think it is better to spend money or save money?
   We should always try to save a fixed proportion for rainy days, but at the same time, we should
   stop enjoying life. Life is short and we should also enjoy when we get the opportunity
4. Do you think children’s knowledge of money comes from school or family?
   I think it comes from both. There are certainly lessons and concepts in subjects like math which
   teach students about money, but parents also teach a lot of money management. I think the
   knowledge in school is more theoretical, whereas we learn more by observing our parents, so it has
   a bigger impact.
5. Do you think schools should increase their awareness of money?
   Definitely, I think money management is an important life lesson and schools should definitely
   include subjects on it. A lot of youngsters are very careless with money, because they have no prior
   knowledge on it and sometimes they regret overspending later. So there should certainly be lessons
   about responsible spending and saving money in schools.
6. Is it easy for people to save money to buy something expensive?
   Saving money to buy something expensive can be challenging for people as it requires discipline,
   budgeting, and long-term financial planning. It often involves sacrificing immediate gratification and
   prioritizing saving over spending to reach the desired goal
7. Should children have pocket money? Why?
   Providing children with pocket money can be beneficial as it teaches them about financial
   responsibility, budgeting, and making independent choices. It allows them to learn the value of
   money, practice decision-making, and develop skills in saving, spending, and managing their own
   finances within reasonable limits.
8. Should children learn how to use money at school or from their parents?
   Children can benefit from learning about money both at school and from their parents. Schools can
   provide structured financial education that covers topics such as budgeting, saving, and basic
   financial concepts. Parents play a crucial role in teaching practical money skills and instilling good
   financial habits through everyday experiences and discussions about money management
9. Why can’t some people save money?
   Several factors can make it difficult for some people to save money. These may include low income,
   high living expenses, debt obligations, lack of financial literacy, impulsive spending habits, or
   unexpected financial emergencies. Addressing these challenges often requires a combination of
   budgeting, financial planning, and potentially seeking assistance or financial education to develop
   better saving habits.