Some parents in India do not feel necessary or in fact avoid taking money matters with their children, waiting for enough maturity in them to discuss the subject. No doubt that this is a very sensible matter for discussion at an early age, but it does not mean that is to be ignored during the development of a child. However the subject should be imbibed gradually as per the age of the child during childhood.

The practise of not educating children with the appropriate lessons on money management during childhood might cultivate them to neglect its importance and its priorities. Giving kids a good foundation and teaching them gradually about budgeting, spending and saving money is vital for their personal development. This will develop them with the habit of respecting money and motivate them for its productive use in life.