He wears the dress which he doesn’t afford to buy.

He wears the dress which he doesn’t afford to buy."[^5] To streamline the financial affairs of the family it is essential that the husband and wife should have similarity of views. If the husband or the wife spends without keeping in mind the priorities, then the management of the house will go haywire. Secondly, even the children should have some understanding of the needs and priorities.

If the children become thoughtlessly extravagant and the parents, out of their love, humor them and permit their spending sprees, the family can come into financial problems at some stage. The parents should inform the children the financial status of the family and discuss the budget in their presence. This will give them an understanding of the importance of thrift in spending. They should also know that the management of a house is not all bed of roses.

It is essential that the children should, in stages, be made acquainted with the household chores and also the income of the family. They should know that the house runs on the income of the parents and they have no other means besides that. They should understand that all the needs of the house have to be met from that money only. They should also be told that expenditure on certain matters have to be given priority over others.

For example the household expenses, the house-rent , the bill for amenities like power/water etc. In the first instance the expenses on necessities have to be met. Then the other requirements can follow. The children need to understand and extend their co-operation to the parents in this matter. From the very childhood the children should be trained to match their needs and demands to the means of the family. They must be stopped from wasteful expense and thoughtless purchasing.

They must be introduced to the habit of thrift and they should consider themselves as members of the family who have to spend within the means of the family. They should not get a false notion that they are from a rich family and they can spend as they wish. They must be trained to control their wishes in the interest of the essential expenses of the family that cannot be avoided or postponed. These children, when they grow up, will have the reins of the society in their hands.

Therefore they must be groomed into the habit of thrift from the very childhood. However comfortable the financial status of the parents the children must be taught to spend money carefully and judiciously.