Some people argue whether children should be taught how to manage money at school or it is their parent responsibility. From my perspective, both parents and school have their own role in teaching financial management to the children. While parents provide limited allowance, school teach this knowledge by setting a curriculum.
Some parents provide limited pocket money for their children. By doing this, the children are forced to set the priority of how the money should be spent. For instance, a child obtains Rp.150.000 allowance per week. From this Rp.150.000, she is forced to allocate this money for all of her personal necessity so it will last for a week. As a result, this child will spend her allowance wisely by prioritizing her essential goods over her personal desire.
On the other hand, school can teach this knowledge through economics or financial lesson. These two lessons usually provide some information about how to make a budget planning of allowance for some period by making a record book. The record book contains some detail data about the revenue, expense and financial outflows. By learning these lessons, the children are able to control their spending by setting a budget for their necessity and personal desire so it will be enough for some period to prevent shortage of money.
In conclusion, both parents and school can collaborate to teach the children how to manage their financial. While the parents enhance the financial awareness through giving a limited allowance, school can provide this knowledge through economics or financial lesson.