Sharing his views on how older children can learn to manage their finances, SMU Assistant Professor of Finance (Education) Aurobindo Ghosh said that below the age of 21, children’s brains do not function like mature adults, and are often driven by reward-seeking impulses or instant gratification, rather than exercising discernment and patience through delayed gratification. Hence, parents should expose their children to more challenging concepts such as credit and investment only when they are of tertiary education age, he said.
