importance Budgeting Coffee
Adolescence is a transitional phase from childhood to adulthood, filled with physical, emotional, and social changes. During this phase, adolescents begin to gain freedom in making decisions, including regarding the use of money. However, financial management is often not a primary concern because adolescents tend to follow lifestyles, trends, and fleeting desires. As a result, many adolescents experience financial difficulties, spend extravagantly, or even become completely dependent on their parents. These problems arise from a lack of awareness of the importance of creating and adhering to a personal budget. Therefore, it is crucial for adolescents to learn to budget from an early age so they can manage their needs and desires more wisely.
Budgeting means planning income and expenses over a specific period. For adolescents, income generally comes from parental allowance or part-time work. Without planning, what should be enough pocket money to last until the end of the month can run out in a matter of days due to excessive consumption. This is exacerbated by the rise of digital consumption culture, such as online shopping, drinking and eating at cafes, or following the latest gadget trends, which are often considered essential for keeping up with social media.
Creating a budget offers many benefits. First, teenagers learn to differentiate between needs and wants. For example, the need to buy textbooks is clearly different from the desire to buy accessories, brand-name clothes, or simply splurge on snacks. Second, a budget fosters discipline and responsibility, as teenagers learn to adhere to predetermined spending limits. Third, a budget teaches future planning. By setting aside a portion of their pocket money for savings, teenagers can prepare for urgent needs, such as school activities, unexpected expenses, vacations, or even small investments that can be beneficial in the future.
However, the main challenge is not only creating a budget, but also sticking to it. Many teenagers are tempted to break their financial plans due to the pressures of their social environment or tempting social media advertisements. Therefore, solutions are needed to ensure effective budgeting. One way is to keep simple financial records, either in a notebook or using a financial management app on their phone. This record helps teenagers monitor their cash flow and identify unnecessary waste. Furthermore, it’s important to set monthly priorities, for example, setting aside money for transportation, food, and school supplies first, and then allowing the rest to be used for entertainment.
Another solution is to instill awareness of the importance of saving from an early age. Teenagers can use piggy banks, savings accounts, or digital wallets specifically for savings. This way, savings habits will be formed and become a strong financial foundation for adulthood. Parents and teachers also play a crucial role by providing simple financial education, such as modeling healthy spending patterns, encouraging children to make monthly plans, and teaching the meaning of simplicity and self-control.
From the above explanation, it can be concluded that creating and adhering to a budget during adolescence is crucial. A budget not only helps control spending but also fosters discipline, responsibility, and independence in managing finances. The main problems adolescents face, namely wasteful and consumptive tendencies, can be overcome by maintaining financial records, setting priorities, and consistently saving. By developing these habits from an early age, adolescents will develop strong financial skills to face life’s challenges in the future. Therefore, it’s time for adolescents to learn to create a budget and commit to sticking to it to achieve a more organized, independent, and prosperous life.
By: Faza Armadena Hafiyyan
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