The good thing about money management is that it can be taught at a very early age, you can teach your kids about how to manage the allowance that you give them each day or week and how to use it more effectively, and while the amount of money will be on the small side they will learn how to try to get the most out of their money. and this is a habit which will remain with them, a habit which is very useful as this will allow them to be ahead of their peers and get the same assets but for a lower cost.
It would be better to teach children about money management at a very early age so that they can learn to manage their finances well. And if they can do it, their finances will be more organized, and maybe they will have a better life than ours. And as parents, we certainly will be happy if we see our children happy, and they can also teach the goodness we have taught them. This will be more effective for them in managing their finances than teaching them about things they don't really need in life. If this can be successful for them, who knows, they can also teach the same thing to their friends.
By the way, one of the aspects of such training is obviously separate lessons on how to manage capital in case the child decides to gamble with money that he got from his parents.
This is where the father himself or, for example, the older brother, should sit next to the computer and make sure that the child does not make stupid bets and from childhood get used to prudence and calculation of his capabilities. But of course, it is better that he plays such games as little and as little as possible and begins to try games in his later adolescence.
I think that now almost all teenagers go through such games. And it would be nice if they would not become gamers. It's up to the parents to keep an eye on this.
If parents or older brothers try to teach money management in gambling, I don't think it will be easy because we see that children are still unstable and can be provoked by emotions to spend all their money in one round. They can do this without their parents or older brother knowing, especially if they are often alone and busy using their cell phones. Parents don't need to show children betting sites because they are more curious than adults. That can trigger them to take a closer look at the site, and maybe they will register themselves to look into the site. In the end, they can easily ask their parents for money for other purposes when they use the money to gamble without their parents knowing.
Inside their young minds, being an explorer might harm them. They are more curious, just like what you said they can be provoked to go all in or yolo all their money in one round, putting them in regrets and wanted to play for more. It's difficult to control such kind of behaviors as even us adult are also prone to mismanage our funds while playing inside gambling.
It's best not to let your kids be left alone. Always be a good example and guide them towards their journey in life.
Be the parents/guardians that always know how to understand and are willing to help in case something wrong happens by any chance.
When a child gets provoked for what has happened, they tend to move unconsciously and can immediately place bets in larger amounts than before. This also happens to some adults. Their unstable emotions will also prompt them to continue playing gambling.
Being a parent who always accompanies their children in living their lives is very important because we want to see them happy and can also do the same for their children later. What we teach them will be passed on to their children, and if this has become a habit, we can feel the joy of seeing our descendants become responsible children for their lives and their families later.
I agree to that, being responsible kids and a parent in the future is a joy to us being their parents, knowing that they are being guided the right way, especially if we apply it with gambling, if we are able to guide our kids the right way they will not involve to these activities that much, if we give them a chance to experience but not to leave them doing it alone.
It's good to know that they will also bring the same thing when they are already in the situation like ours now.
For father, I can say that he can gamble out his money according to his wish as he knows what he is doing due to his experience. Also, that particular money belongs to him, so we can't impose any restrictions upon him for spending his own money, but as far as they're concerned, teaching the value of money to the children is significant. Also, as per Nevada's state laws, he was underage and legally isn't allowed to drink and gamble, so he was not supposed to do that; the responsibility lies with the parents to prevent him from performing any illegal activity.
Getting your point, the limitation is still needed to serve as good guidance to our kids, maybe yes it is their right to spend the money to whatever they wanted but it's still possible for us to direct them to a proper usage of their money, it will lead them to become responsible person, valuing the money is what we can guide them to prevent our kids abusing their freedom.
