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Spending for the wrong reasons

Published on May 8, 2003, The Nation

Teen spending habits are often the subject of major contention in families. Unfortunately, it’s often too late to solve this laying out of cash (or use of credit cards) when the children are nearing adulthood.

All parents can do to prevent this problem from occurring is to teach the little ones the importance of living within a budget (at various stages during their development).

Shopping for brand name products, the latest fashions, and the trendiest models of mobile phones, are among the hobbies of many of today’s teens. They also love hanging out with their friends at night. About 40 per cent of urban teens spend between Bt3,000 and Bt6,000 a month on nightlife, according to study conducted by Chulalongkorn University. The study found that despite the well-to-do family backgrounds of the teens surveyed, most shared problems of loneliness, had depressive tendencies and a need for love.

“Teen problems are an indicator of parents’ failure in assuming their duties,” says Yongyuth Wongpiromsarn, child and teen psychologist, adviser to the Public Health Division and president of the Family Network Foundation. Yongyuth was speaking at the recent seminar-cum workshop “Towards Quality Families”, organised by the Social Development and Human Security Ministry.

Most middle class parents are busy working and have no time for their children, Yongyuth says. To compensate for the lack of attention and to assuage their guilt, they thrust toys on toddlers and money on teens. It is the worse possible way to raise sensible, well-balanced young adults.

But while there appears to be no single solution to the unwise spending patterns of teenagers, it is possible for parents to prevent this kind of behaviour later in life, says the psychologist who is himself a father.

“Kids aged between three and five can understand what is right and wrong. That’s the age when parents should be teaching them about sharing things with siblings and others. At six, most children can understand the value of money.”

The psychologist shares some tips for raising money-savvy kids.

Allowance

Don’t focus on how much but on what is needed.

Resist the urge to give in when kids say, “I want”. Give a practical allowance to teach kids the difference between needs and wants.

“Exclusive of lunch, which is already pre-paid, I give my child, a primary school student, Bt5 a day.

“I know some of his friends get as much as Bt40 a day. Most snacks kids eat cost around Bt5, so my boy has to make a decision on how to use his limited resources.

“This way he learns to prioritise his spending, while those who are given Bt40 a day can buy eight snacks without having to use their brains.”

Saving

Introduce them to personal finance and help them open their own savings account.

Buying

Allow them to participate.

If they want something expensive, for example, a tennis racket, encourage them to save a portion of their allowance and promise that when they have enough, you will cover the rest.

Adults must accept that there are more distractions for working class kids. Here too, the teen problems tend to be more complicated, says senator and child’s rights advocate Wallop Tangkananurak.

The senator, who has been working for childrens’ causes for several decades, divides Thai families into five types, each of which causes problems for children.

First and foremost, the frequent break-up of the family structure, resulting in mum and dad separating and the kids being dumped on older relatives. The second type is the itinerant family where parents move from province to province to earn a living. The kids tag along but receive no social welfare nor a shot at basic education. Third, there are what are known as explosive families, where the parents are constantly fighting and the relationship is likely to end in divorce. And last but not least, are the teenage families struggling to raise themselves and youngsters who are in orphanages because their parents are suffering from HIV/Aids.

In some cases, it is beyond the means of parents to keep a watch on their children and here, the state could lend a hand.

“The state must keep up the zoning of night spots, especially the bars and other entertainment venues frequented by school-age kids. For example, forcing a school to close just because it was surrounded by pubs, should not be permitted to happen again,” says the senator.

Aree Chaisatien

The Nation