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Over the years,and now the percentage for education have increased massively and it is being taught in school mostly but the subject or topic FINANCIAL EDUCATION and how to go about it is muted.Why?? And I believe strongly that most rich have been able to bring up the topic at home and they expose it while they are on a round Table..
We are in a fast paced Global world now that everything is  changing rapidly,regardless financial education should be introduced as a topic or a knowledge to be empowered to the children while growing up.Like me.now,as a woman while bringing up kids..I'll make sure I give them the basic highlights of the knowledge on Financial education to my kids in order to groom their mindsets and everything so they will get the knowledge on how to tackle issues relating to that.
With this it will inculcate a nurtured desire and also financial stability and build them to be financially inclined from tender age.and I advice it should be utilised  and implemented.

Pretty tough to be wanting parents to teach their children proper financial education, knowing that a lot of parents don't even know how to simply budget. Hence why it's necessary for financial education to start at ages 16 or so at school.

Teaching young ones financial stability I will introduce some hints our parents instilled in us while we were little

1. Making them save: one important financial ethics is saving for future use. Kids should be advice to save and this savings should be use by parents to buy important things for there so they no the worth of every penny

2. Teaching them how to live within there financial means: one mistake parents make his giving almost everything to kids sometimes you have to deprive them of little things just to have them to be contented with what they have.
3. Them little amount to manage: if there is a particular thing I could remember during our early days was when parents will give us our monthly/weekly upkeep, this will help plan for the entire time span. With this one had financial discipline.

You should also speak to them about the family financial problem at a older age.

Advice them to take jobs or perform some task themselves either for you and you pay them

Evidently, there is no harm in trying but there are certain things that comes other maturity and sometimes, out of experience.
Some might learn how to handle money because, they've been with one who does that as a pro. While other might learn how to handle money because, they've tasted certain situations in life that were dehumanising and degrading such that, they appreciate every penny they've got, ensures its best use so as not to go back to a broken state.

It's still of advantage to try to teach to the children, though they might not see its usefulness or get it at first, later in life when they start making mistakes and correcting themselves, they are likely to remember the lessons of there childhood.

I think financial education has always been and is still part of the curriculum of the educational system. Each financial topic is introduced to pupils gradually based on their age and class. As they advance to junior and senior high school subjects like business studies, financial accounting, entrepreneurship education, and economics are introduced to the students. I am speaking based on the educational system of my country.
 

Most parents assume now that we are in a fast-moving world hence their children should be introduced to diverse fields at a very tender age to enable them to succeed in life. This assumption might not be very correct. Children should be allowed to enjoy their childhood stage because they need to build other important aspects of their lives at this stage. They should not be forced to learn something that is above their level. Although we have some exceptional cases where children a naturally interested in finance at a very tender age, they should be allowed to mature before they are introduced to finance. Children at a tender age should be allowed to build their interpersonal relationships so that they can be able to build attributes like patience, compassion, love, selflessness, etc.
  
 

It is very important to expose children to financial education when they become teenagers and can understand these lessons. For now, I just give a few bucks to my children and tell them to save them in piggy banks and after a few months, we use the money to buy some local fowls. I ensure they help in raising the birds until they reproduce and in a few months we see the hens laying and hatching their eggs and we celebrate our profits from our investment.

Certainly, this is a vital subject that should be taught in schools. Personally, I remember saving money from a very young age. I'm not sure how or by whom I was taught, but I'm pretty sure it had something to do with my parents' lack of wealth and their early adoption of the concept of not wasting money. Saving has definitely helped me a lot in life; even as a teenager, I always had money on hand. Later on, I could afford luxuries my peers at university couldn't, such as purchasing a car or a decent laptop. I don't identify as stingy by any means, but I'll try to avoid buying the most expensive stuff. For instance, I've bought a cheap refurbished laptop instead of a new one. It cost me more than half of what a new one would have while getting the job done.

Meanwhile, other coworkers my age struggled to get through the month because they were wasting all their money on random stuff, also involving heavy drinking, partying, and zero budgeting. It's surprising that a large number of similarly aged acquaintances and friends haven't fathomed the importance of saving and budgeting. I understand that times are difficult, but not being able to save a single euro by the end of the month is unacceptable. To this day, I have a decent sum of money saved, and at the same time, I have investments in cryptocurrencies, securing my financial freedom for the time being.

You have said well but lemme throw little thing inside.

When i was very tender 26 years ago in my Primary school they have never taught us about financial advised or how to make money instead they were teaching other things. Even our parents at home never did because they were afraid if they do we won't focus on our academic pursuit so it was hidden from us to know about life before letting us aware of that.

During then i have a friend who don't like coming to school rather talks about business all time in class and he opened clearly that he can't make it through school, even instigating that if we can make it through school why are does who graduated with best grade or distinction have not become a billionaire. He went ahead asking me why are out teachers walking on barefoot to school without driving an expensive car while coming.

And i replied is because they are not following the principle of money.
To cut it short, we met 2 years ago and guess what?
He is an exporter/importer but not academically sound, he said if he knew he would have just developed little time study while planning for his business moves., today he has enrolled himself back to school learning things he never paid attention to study.


In Summary
School is the gateway to prosperity if you study very well and have a business mindset.
So whatever may be the cases there is time to expose about money to you kids otherwise they will be carried away by money without having the core educational background, it's better for kids to finished nursery/primary school or even Secondary before inducing monetary language in them, maybe as parents it could be reveal to them at their University level by then they are matured in mind and in thinking to combine school and to become successful in life.

it's quite difficult to be able to teach children financial education from an early age because at that age they shouldn't be managing their own finances.. but basic knowledge about finances for teenagers should not be a problem.. and moreover, we also have to be able to manage our finances so that later these children can learn from how we manage our own finances, in addition to the basic knowledge they have gained

As a financial advisor I couldn’t agree more. Most people are completely and utterly lost when it comes to even basic finance knowledge.

Schools should focus on real world stuff like this, how to change a fiat tire, how to sew, how to give a proper job interview, how to build a resume etc, shit that will actually be useful IRL.  I used to tell my calculus teacher in HS that I will never ever need to know how to do calculus in adulthood. Guess what, 25+ years later and I’ve never come close to needing to know how to do calculus (this is just one example).

I agree with you about what schools should teach. I've heard it said that teaching reading, writing, and arithmetic would only take 3 hours a day. But it is basic finance knowledge that is most needed after the 3.

I think that part of the reason it isn't taught much, is that teachers and schools don't really understand the basics themselves. As a financial advisor, could you please tell us where money comes from in the first place. I mean, Biden is turning over $billions to Ukraine. Where does it come from? And how and where does he get the authority?

The direct control of 'printing' the money comes from somewhere. Where does it come from and who controls it and what do they use as a base for their controls, so they can say, we should print more now?

But not all the laws and policies. Rather, a simple understanding of where money comes from and who controls when and why to 'print' it. The schools need to know this so that they can teach it.

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On this basis, adults must be forced to master the basics of financial education as a prerequisite for marriage, since they cannot be prevented from having children outside of marriage.

I believe that the financial education of children until their teenage years is primarily the responsibility of the state. Formal educational curricula should include lessons on how to control an individual's budget and how an individual can deal with financial crises that he may go through throughout his life.

I don't think any system does this in our time.

Forced you say! How is this going to be checked if I may ask you, who would be doing the checking and what makes you think there won't be corners to it?
Anything born out of force won't work and people could actually pretend for a time being until what is in view is archived and afterwards, they are right back to there ways of lavish lifestyle.

It's really up to an individual to see reasons why rather than being forced to. Also, subjecting it to marriage won't be enough as we've got gay parents now and single parents. They just get a Foster kind and the parenting is on. Relations to it just invites them to cut corners.

Financial education is something you’re going to have to teach your children on your own. You can’t expect public schools funded by the government to do it. A less financially educated citizen is a more reliant citizen and more easily controlled. You have to view things through the lens of the government wanting to stabilize tax receipts with universal income. Then everything they do makes sense.

You’ve got a valid point cause any government likes and would definitely prefer a populace that is obedient and could be easily be controlled and so, they won’t actively fund or delve into projects or ideas that would make the citizens self reliant and less dependent on them. We can all see that with bitcoin as some government has gone as far as to demonize and even prosecute its use.
Financial education is something we would have to teach our children ourself. That’s if we ourself are financially enlightened.

I agree that the rich seem to be unashamed talking about money with family. They just seem to have a different attitude towards it. I think the more often you discuss a topic with your children, the more comfortable they would be with it and let's face it, money is an essential part of living and there's no harm exposing them to these concepts, especially if it'll allow them to better manage their own finances later in life.


This. I've seen adults pay just the minimum of their credit card bills and then act all surprised when they get slapped with massive amounts of interest. Or who run out of money a week before the next paycheck and have to take loans, again with large interests. I even know people who pawn their paycheck ATMs.

I don't believe those sort of people would be teaching their children good financial knowledge. So it seems adding it to curriculum is the way. At least financial education is less controversial than sex education (another topic parents tend to fail at).

Remember that good finances and wealth only last for a short time for you. They last only as long as you live. There are things to teach your children along with financial education. In the US:
1. Most of the common money comes about by corruption; so be careful how you get rich;
2. Good morals and honest living is worth more than financial education; friends and family make for strong help financially and in many ways;
3. Focus on the Bible and God for help that can't be gained from any financial training.

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Now only we are aware that financial education is really important for the next generation to get better financial stability in their lifestyle but the place we can get knowledge still is lacking.

Ofcourse we can learn everything from internet but not many of us are doing in that way, and one who learnt it keep the knowledge into their Circle only not bring to the society, so we can really produce the change when only if we teach them in proper way for that the kids should have mandatory financial subject in their curriculum at the school level itself.

Teaching our children how to be economical-wise is a good thing to teach when they are at a young age. I remember when I was growing up, how my parents thought me how to economize my spending. They do tell me, don't spend your earnings on unnecessary things, no matter what. You save for the rainy days. You don't buy things because others are buying them.

Now that I have grown up much older with such reasoning, am yet to deviate from being economical-wise in my daily life cause my parents thought me that at a young age.

It is essential for everyone, rich or poor, to understand financial education. With a good understanding of financial education, one can foresee how to spend money wisely and use it to make more money in terms of investments. People who lack financial education always end up wasting their money without keeping track of what they've done with it.


Not all rich parents teach their children about financial education hence even their children fall culprits of financial breakdown when they don’t spend wisely. Financial education should be a moral that should be inculcated into every child from tender age regardless.

Teaching children about financial education is a good idea but we have to be mindful of the age tange at which this should be taught, you know children are very quick in learning and assimilation when it comes to acquiring knowledge and we havebto be specific in targeting the specific areas of financial education we wanted them to learn from, we must not just open them free to do ehat please them with money but they must understand the need for doing a particular things that requires finances, they must know that getting money is not as easy as expected and same way effectively utilizing it also is a good thing to do, children must be taught how to earn it, spend it and save it.

You don't even need to do this as if you are teaching the kids economics.   The best way for this is for parents to teach their children to have the habit on expending wisely and not on irrelevant things.  If children can be able to use money on things that are important they wo/ have problems on how to manage money , make savings when they grow up . Teaching children how to be discipline with money at Early stage will help them a lot as they start making their own money.

Parents are discipline in the way money is being spent and if parents have the habit of saving money,  it is not necessary to start giving the children financial education,  they will definitely  learn from the life style of their parents how money is managed.

You may not understand me well my friend.
This is only an idea and I know that it cannot give the required effectiveness since children can be born out of wedlock. The solution may not exceed the intensification of awareness campaigns for adults who have children to teach them ways to control the budget. Churches and places of worship can help implement these campaigns as well. Apart from this, the inclusion of financial education in the official educational curricula may not give the required results because each child has his own financial circumstances, and therefore I find it better that the educational role be entrusted to the parents.

This is very important many skill which are needed in the practical life are not taught in school
We take the degree and leave the school and start learning the practical life that what  we have learnt in the real life is of now use to in the practical life.

I guess the basic education system that was made got some contribution from the rich people as it teaches a student to finish school to have a better job and unlike the mindset of the Chinese people, finish or not finish, they should have a better business instead of a job.
When I was taught about some finance related lessons by my parents, it's just all about putting up a savings account and that's it. As I grew older, I've come to realize that managing finances is very important. Because even if you're earning a lot but you don't know how to spend, save and invest properly, you're going nowhere. I'll also teach my kid on how to save when she understands a few things about life but not for now.

Financial education in indeed necessary to inculcate at a prime age because it will help children understand and use their financial skills effective both in management, budgeting, saving, investing and also in giving. But I think this financial education is imbibed in most subjects taught in schools such as economics, accounting, business studies, social studies and well as civic education.

Teaching child their financial freedom is very important
When they are done with school they realize that school didn't teach them what they needed to learn from there - some parents make an effort to teach their kids the skills other do not bother at all.

The problem is that most people don't understand what modern money is all about. So, they can't teach it to their children. Go to this page to start to see the part that most people don't know. - https://bitcointalk.org/index.php?topic=5414658.0.

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Financial education will really help kids in planning in making investment. Most young people think cryptocurrency makes one to be rich but if financial education is giving to our young ones they will understand before starting cryptocurrency investment they need to build cash flow, like having a job or someone else.

many practical lessons are not been taught at the school - I am very bad with numbers - I still don't add or  subtract properly
I have no shame in admitting that I am poor with numbers - but credit goes to my teacher who made maths so horrible for me

There’s no shame in admitting that you’re not good with numbers and can’t add or subtract properly but I don’t think you should solely credit your maths teacher for that.

Although I’m yet to meet anyone besides a wee little baby who can’t add or subtract properly(perhaps you meant you’re slow in calculating?)you should know there are folks who just don’t like maths and aren’t good in it.
It’s never too late to prove to your maths teacher that you can do it!

Financial education is very important for children now because the economic conditions theses days are very unpredictable. The earlier they have an idea, the better. But don't get too strict with them in teaching them, they are still little children and should be permitted the freedom to explore their childhood. Important topics like savings, investment and even cryptocurrency should be introduced playfully in a way that is suitable for kids so that their interest will be sustained. If you do not know how to teach, find resources, materials or an individual that can do the job because these topics are usually not treated in schools.

Teach Children Financial Education


... But be careful. It's difficult to un-teach it if you teach it wrong.



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that is true - some of the skills they inherit from their parents.
They too copy their adults and also the daily routine and attitude of the parents create their mindset

Age to teach children financial education matters a lot because children been exposed to money can affect them negatively as they grow up. Their are some children that were exposed to money at early age that it later became problem to them. They try to get money by all means .

For little children, simple trading of toys is money. Or winning marbles. After all, consider cards - poker - playing for matches or toothpicks. They are all money when traded.

Why limit the idea of money to "paper" that has to do with banks? Bitcoin is money that is there to teach people that money can be anything that can be traded and has value or perceived value.

If children were taught at an early age that anything can be money, and that money is tied to value, they would have a head start in life. It's like "buy low, sell high" with the added point that buying should be trading rather than cash and cards, only.

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All this things are good for children.  But the most important thing is for parents to go about it in the right way. Children always care about their needs and when they understand that they can achieve it with money it becomes a problem that they will target how to get money from their parents.

as I read above - and still it is on my mind.
Someone said - be very careful in teaching the kids anything - because it will be very hard for them to unlearn it.
I totally agree with it. Think before you make a move and you make it - just stay firm

First of all, to involve the topic of social differences is to start with archaic, provincial thoughts, etc. Let's start teaching with everything that is possible in terms of training, not only finances, general culture is as valuable as any particular thrust of training, it especially in the youngest, in any case what we think we know does not always turn out well, a person with resources can be just as bad at teaching as a person with limited resources or vice versa.

More than half of the richest men according to Forbes started with no money or financial training, that doesn't tell us anything in the specific of the topic, but at least it serves to realize that an ideal financial formation is not necessary to obtain success, if we point out successes in life measured in billions.

In any case, with how simple an allowance is, any parent can always start there, the children always want to spend the entire allowance.

Well, as a parent, your teaching will not be effective because you should serve as a role model to your kids. Otherwise, they will also follow what they used to see from their own parents. Since kids these days are keen observers, then teachers and parents should always act the proper way so that the children will learn from them eventually particularly in wise spending and using of money so that they will come to understand the value of money.

I don't see anything difficult here which can be like a normal way we things our children how to ready and read multiplication tables. We don't need to relent but take the bold step to teach children how to save and financial education so that they can start learning about finally means of making money and how to save. We should do this and see the outcome that we will see so far.

Who are/is the right people/person to teach financial education?

The parents or the government?

The parents you are asking to teach the financial education are they financially educated? Are they properly taught the principles of money? Parents cannot give what they do not have and government don't want everyone to be financially educated so that they can still have poor followers who will obey every of their rules and laws. This is why they hardly teach the financial education in schools.

Even the government doesn't know all the updates in the financial education. Many of us in this forum are more financially educated than many people outside who claim to be.

it is important to teach children about managing finances, but it must be done slowly, little by little, do not immediately give a fairly complicated lesson,

because if children already know or know about finance thoroughly, it is feared that they will become very ambitious people.

therefore teach also about manners, behave well to others, and must learn to be humble.

because ethics is paramount.

In Saudi, some fathers not only teach their children financial education but they let them sell some stuff in the street to have an actual experience on how to make money. It is their way of teaching their kids to stand up on their own without relying on anyone when they get old and this is not an easy matter because some kids are raised differently and they don't know how to stand up on their own because they were raised by getting everything they want and when their parents are not around anymore, they will have a hard time catching with life. I really agreed about it to teach your children about financial education.

Children first school is their home and first teacher is their mother/father, so yes parents should teach their children about finances and financial education. They should be given tasks to sell different things and to collect and save money.  This will develop sense of confidence and independence in them, they'll feel responsible and will learn about importance of money. Math should be improvised In their daily routine.

As the world changes, it is important to teach financial literacy to youngsters. Finance is a tool for personal growth. Since they are the nation's future, it is appropriate to start with them. It's crucial that they understand the worth and utility of money. Children must therefore be taught to be satisfied with the financial resources available to them.

the best point I have gained from this forum is to be very careful in teaching kids -- because it is very difficult to unteach them what you have made them learn.

It's rightly said Action speaks louder than words, your kids will learn more from your actions than your words. Set an example for them by adapting to positive and good gestures. Children are excellent learners and keen observers they'll learn very quickly. Involve them in your finance dealings so they should feel independent and confident and they should learn to deal with their finances( in schools).

Completely agree OP. I'm always disappointed at how few general life skills we learn at school. Difficult though as limited time so something would need to be cut but definitely think there should be more.

I surmise that there will be some specific time and point
for teaching financial education to children. But the priority
I believe is to simply guide them properly in money matters
as they grow. I think there is no simple method to this
approach whether its in schools or at home, but that does
not mean it’s irrelevant to still nurture their minds about
financial matters. Its important to make them be aware of
the impact of monetary value in life and how much more
salient it is to even earn it later on. Mathematics was the first
subject I can recall that somehow introduced me about money
as a young child, it probably is still the same with todays
teaching standards in schools.

Whatever you teach your kids - do it properly because they won't be able to unlearn it that easily
Also teaching them proper manners and proper etiquettes are also very important . I don't like kids misbehaving and yelling on the others

I think it may only be difficult for parents who don't have much knowledge financial education. Generally many people lack knowledge about financial education, some people are not aware they know nothing about it. Most people learn financial education by themselves by reading books and making research's.

The best point I have learnt form this forum is to be very careful in teaching the kids anything - because it will be very hard for them to unlearn it.
I have told this to everyone at home and I started doing that too

Indeed, teaching money education to children today is indeed good. But when we teach it we must also have high and good advice. So that children in adulthood do not abuse money. We must instill a good personality about money. Such as learning to save from an early age, not wasting money for unclear interests, using money in a good way, and not being arrogant if you have a lot of money, also having to help each other, by giving a little money to those who are in trouble. Of course it would be great.

Money is strange stuff. Almost anything can be money. We have seen in history the even salt has been used as money at times. Money is a medium of exchange in bartering, there to make bartering easier and more widespread.

The point is that teaching children about money is really teaching them to trade things fairly. Even little children or year-old babies have the start of learning about money as they trade things with other little children.

If parents go the next step, and teach the children about money as a medium of exchange, and that this medium of exchange can be anything that the kids and their friends agree on, they will have taught the children the basics of money. The next thing that they need to teach is how to use money and trade honestly, and to keep from cheating each other.

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I think that is a very good idea to teach you kid the finance at early age. My parents did not do that and they were not good in managing their finance
But that is OKie - we cannot blame our parents for all the things we fail at - at some point we should also take the accountability and learn on our own. And also teach our parents the things they have missed telling us.

Teaching children how to finance in life is one of heaviest duties that parents should do. In any developed or upper developing countries, young children today are living a pretty good life compared to those who live in uner-developed nations. Children are too young to understand the meaning of hard-earned money and it's very easy for them to take money for granted. Zero financial knowledge means a disaster for everyone, especially as they grow up. Learn how to manage finance/money is the key to a regular and comfortable life.

Parents are the ones who are the first teachers to their lad this implies that kids starts learning from their parents before going to school. Therefore any challenge that a child will face in life that will affect his financial or mental stability should be taught be parents. The school will only teach you theory in business studies or financial account without the student putting it into practice waiting until he gets a job.

When parents teach their children at home about financial education they can put it into practice and you guide them on the right way to go about it. Making them work and get paid during  holidays, giving them money to keep for a long period of time. Ask them of their opinion some financial problems in the house and also tell them the solution.

I strongly agree that this lack of financial education is the biggest dilemma of the current ERA.
In this rapidly changing world, it should be mandatory that financial education should be made compulsory for all students.

actually financial education is not silenced in schools but the task of teachers who teach in schools is only to provide basic theory about all subjects, except financial lessons.
because basically all of that is not the responsibility of the school to educate in detail about finances, but all of that is the duty of parents who educate their children to provide education directly with little actions such as saving etc.
so it is very difficult if parents expect all lessons to be in school education, because the real teachers for children are their own parents.