SCOTTSDALE, Ariz., June 13, 2014 /PRNewswire-iReach/ -- With society as a whole constantly struggling with money and how to save it, this idea is becoming more and more vital for people to learn. In order to ensure that the next generations are able to manage their money and become financially responsible, it is important to teach children this at a young age. When parents, grandparents, and guardians take an active role in teaching children to save money, financial responsibility is a skill that these young kiddos can take with them all the way through life. Jameson Van Houten of Stonegate Financial Group has one extremely imperative piece of advice to help children learn this concept.
One of the biggest issues seen in society today is differentiating between a want and a need. Many people believe that these two notions are even interchangeable, with a want being something that they absolutely need. People who buy luxury cars and cannot afford them believe that having the newest, fastest, vehicle is an undeniable need, not a want. Between mixing this concept of want and need with society's constant reminder to always spend money no matter what it is for, there is no wonder why so many people are in crippling debt.
In order to prevent this from happening, Jameson Van Houten and Stonegate Financial Group say that parents need to stress to their young children that a want is entirely different than a need. A need is something that is absolutely essential to live, such as food, water, clothing and other necessities. A want is that new fancy toy that kids have to have because everyone else has it. Because the industry that targets to children on their morning cartoon commercials relies on this breakdown between want and need, many kids are claiming that they "need" the newest doll or the fastest new race car. Parents need to stress to their young ones that spending money on needs is most important, which will then turn into saving. They can purchase a few "wants" later on, so that children will be able to better handle what to spend their money on when they are older.
By stressing this concept to children at a young age, Jameson Van Houten and Stonegate Financial Group believe that these newer generations will grow up to have a stronger respect for saving their money. For more information about Stonegate, visit http://www.stonegatefg.com.
Media Contact: Stonegate Financial Group, Stonegate Financial Group, 480-699-6786, email@example.com
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SOURCE Stonegate Financial Group