![]() They understand money management better than many adults do. Murali V, a chartered financial analyst from Hyderabad, says, "Children, especially teenagers, these days are very smart. The survey also indicates that children understand better, the concept of money management these days. These savings are then used for purchasing a bigger product, which erstwhile was out of reach. Given the drop in direct expenses, children become more inclined towards savings. So, you know why children are not spending a whole lot on recharges." In simple words, the head of the family actually ends up paying for the youngest members too. This is not just about customisation but also about targeting the youngest members of the family. ![]() With the introduction of family plans by many mobile operators, the numbers actually do not surprise.īharat G, a telecom analyst from Hyderabad, says, "Over the last year or so, many mobile operators have started family schemes where call and data plans are shared. Only 2 per cent children said they spent on phone recharges. Interestingly, gadgets and phone recharges, which are seen as 'serial offenders' by many parents, didn't figure high on the list of pocket-money spends by children. ![]() A similar encouraging trend was also seen in books and magazines with a good 51 per cent children wanting to spend some part of their pocket money on them. While 85 per cent children said they spend a major portion of their pocket money on food and snacks, a significant 61 per cent children showed inclination towards savings. The ParentCircle-IMRB Nationwide Survey, 2015, just about reaffirms my thought. It makes me wonder if things are actually changing on the ground. Interestingly, I have a nephew who is now 17 and comes across as someone who is interested in savings and investment. I do at times regret at not having taken my father's advice very seriously early on in my life. But, with my hair starting to grey, my idea of savings and the value of doing so, changed dramatically. ![]() ![]() Like most other teenagers, I didn't pay too much heed then to those words of wisdom. When I was in my teens, my father always told me, "Son, don't be a spend-thrift. ![]()
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