Economic Management and Its Role in Child Upbringing

Abstract

This paper explores the role and impact of economic management of household and child upbringing. The main aim is to highlight the significant role of “household economics” and “child upbringing” in human economic life. Additionally, a substantial portion of “household economics” is allocated to the expenses related to children. The main question addressed is whether parents' economic management of their children has a positive impact on household economics and their children's upbringing. It is assumed that as one of God’s creations who possesses the blessings of intellect and education, humans have a responsibility to be sensitive and serious about their own economy and that of their children. The findings of this research indicate that the economic management of children plays a fundamental role in household economics and child upbringing. This is because a portion of the family’s expenses is attributed to the expenses related to children. Parents have the duty to provide education and upbringing to their children during childhood, adolescence, and youth, taking the aspect of “economic upbringing” seriously. By implementing proper economic management, they can create the conditions for a healthy and well-educated society. This paper employs analytical and descriptive methods and relies on relevant sources to emphasize the importance of considering factors such as children’s age when providing daily expenses, meeting basic needs, guiding savings, teaching proper purchasing management, and moderating consumption. It also emphasizes the responsible role parents play in guiding and managing their children as responsible members of society. Based on the significant findings of this research, parents, especially fathers, should guide their children towards moderation, prudence, avoiding extravagance, emphasizing savings, investment, budget constraints, planning, decision-making, freedom of choice, and monitoring their behavior. Furthermore, they should focus on educating and increasing the knowledge and cultural level of family members and, most importantly, paying attention to developing and strengthening economic growth of the family. The management and upbringing of children can have material, spiritual, and social effects and consequences. On the other hand, it is evident that economic management and upbringing have a direct relationship with the standard of living and poverty reduction in society. In this regard, children, with their productive and innovative abilities, can contribute to society as productive individuals in the short term, impacting the economic capabilities of the community as a whole.