Young people should learn to manage their finances

A growing trend that I am noticing in the youth of today, including myself, is that many are indulging in over-spending in one way or another.

We may not have noticed it but the economy and the credit crunch are affecting the youngsters of Bahrain as well. I have noticed cinema tickets go up in price as well as the price of music CDs and DVDs (for those who actually still pay for originals!).

However, as we move further and further into the future, we will be facing situations where we will be tested based on how much we spend and how well we spend it. It is really daunting that in a few months some of us will be off to universities all alone with no more parents nagging us to save our money for emergencies instead of wasting it on the latest video game.

I would like to stress the importance of having good financial knowledge of how to spend one's money during university and after school.

Many people, in Bahrain and around the world, suffer from drowning debts and loan repayments and youngsters are not excluded from this category.

I seriously feel that the young people in this day and age should attend classes during their final years in school to learn valuable lessons in managing their finances.

True, we really do have it easy with all the easy credit cards and student loans which ease our minds while we try to experience university student life, however it won't be easy trying to pay back the money one wastes.