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Author Topic: Would bitcoin help teach kids about saving?  (Read 13618 times)
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August 09, 2017, 04:55:11 AM
 #121

So I have 2 cousins. One of them doesn't save and is a huge spender while the other is a saver and spends only once a year. So would bitcoin be a good way to teach them about saving? Since, mining bitcoin is the only way to make alot of bitcoin, I would use a alt wallet to show them what happens if you spend and don't save. What do you think?
I think it's very difficult to understand by kids it would be better to start with the easier ones, like saving money for unnecessary things or maybe taught that earning money is not easy.

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August 09, 2017, 05:04:56 AM
 #122

For me no, that is kind of attitude that guardian should be taught. Kids knowledge about saving depends on the guardian and attitude of children. So bitcoin has nothing to do with that and how could a kid understand about crypto if even an adult sometimes is having a hard time to understand what is crypto all about.
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August 09, 2017, 08:16:43 AM
 #123

For me no, that is kind of attitude that guardian should be taught. Kids knowledge about saving depends on the guardian and attitude of children. So bitcoin has nothing to do with that and how could a kid understand about crypto if even an adult sometimes is having a hard time to understand what is crypto all about.
I totally agree with this. Being a saver is an attitude that can be acquire first by doing it always so it will become a habit. Best teacher also is our own experiences because once you got caught into a situation that you don't want to be, you will find ways not to happen again. Well for me, to help your cousin, seminars on financial topics are really helpful. I once were a spender and after I have attended seminars on financial education101, it opened my eyes and see the reality. I also had to recommend you a book that helped a lot of people and change their mindset. The book is RICH DAD and POOR DAD. You can find it on the internet.
So basically, bitcoin is another currency and its nothing to do with changing someones behavior.

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August 09, 2017, 10:31:17 AM
 #124

Yet again, bitcoin is just another tool that we can use to educate our children with regard to finances. But don’t force them to learn about the concepts of saving and investing at a very early age as it might overwhelm or confuse them to the point that they would lose interest in it altogether. Let us allow them to take baby steps in investing and introduce them to different instruments as they slowly get a grip of how they are going to benefit from such an endeavor.


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August 09, 2017, 10:37:02 AM
 #125

I think bitcoin would be a great help to teach kids about saving because just like holding or keeping your bitcoin in your wallet it is still considered as saving too. I would teach my kid about bitcoins and savings too, it would be the best example when it comes to saving.

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August 09, 2017, 10:41:00 AM
 #126

So I have 2 cousins. One of them doesn't save and is a huge spender while the other is a saver and spends only once a year. So would bitcoin be a good way to teach them about saving? Since, mining bitcoin is the only way to make alot of bitcoin, I would use a alt wallet to show them what happens if you spend and don't save. What do you think?

Teaching kids bitcoin at early age is hard because they won't be able to absorb the main idea about it. If you want to teach them how to save, find other ways like asking them to save on piggy banks or giving them a certain amount of money when shopping, so they will know how much can they buy with just a certain amount.

   
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August 09, 2017, 03:09:03 PM
 #127

I think bitcoin would be a great help to teach kids about saving because just like holding or keeping your bitcoin in your wallet it is still considered as saving too. I would teach my kid about bitcoins and savings too, it would be the best example when it comes to saving.
Yes, we should teach them at their early stage how to manage their money well. If we teach them bitcoin just like an ordinary money I think they easily understand that. We should give them some reason why they should start holding and keeping their money in their own wallet. Saving is the best thing to do when we help them to save money as well as bitcoins. I think after a couple of years they may know how really important is saving.

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August 09, 2017, 05:02:56 PM
 #128

I think bitcoin would be a great help to teach kids about saving because just like holding or keeping your bitcoin in your wallet it is still considered as saving too. I would teach my kid about bitcoins and savings too, it would be the best example when it comes to saving.
Yes, we should teach them at their early stage how to manage their money well. If we teach them bitcoin just like an ordinary money I think they easily understand that. We should give them some reason why they should start holding and keeping their money in their own wallet. Saving is the best thing to do when we help them to save money as well as bitcoins. I think after a couple of years they may know how really important is saving.

How would you explain that to a kid though? By telling them that when they save money eventually it will grow as time goes by? I don't think kids would want to understand or would even be the least interested if you teach it to them that way. There are more kid friendly ways to teach your kid about saving.

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August 11, 2017, 02:24:32 PM
 #129

So I have 2 cousins. One of them doesn't save and is a huge spender while the other is a saver and spends only once a year. So would bitcoin be a good way to teach them about saving? Since, mining bitcoin is the only way to make alot of bitcoin, I would use a alt wallet to show them what happens if you spend and don't save. What do you think?
Well I think bitcoin would be a good way to teach them how to save,
And also tell them about how it works and  how they could earn if they save it .

Really? To a kid? Bitcoin i a way technical, I think its early for them to embrace bitcoin that fast you should teacher that kids to save while it was in their hands not learning about bitcoin, they're too young to cope up with too technical and risky scene that they might experience. Let them know how to be a kid and not to fed bitcoin in their mouth.

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August 11, 2017, 02:34:21 PM
 #130

Bitcoin will be future and I think soon ins colleges to start with they may introduce Bitcoin and its features as well as Blockchain technology . It's really nice to help them understand the technology and save some for the future . Who know they may be millionaire in couple of years only .
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August 11, 2017, 03:16:48 PM
 #131

So I have 2 cousins. One of them doesn't save and is a huge spender while the other is a saver and spends only once a year. So would bitcoin be a good way to teach them about saving? Since, mining bitcoin is the only way to make alot of bitcoin, I would use a alt wallet to show them what happens if you spend and don't save. What do you think?
I think yes it can help many children to teach about saving money for there future. Iy can do by the people have a better knowledge about bitcoin and they can teach it to the kids out there.

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August 11, 2017, 03:33:12 PM
 #132

So I have 2 cousins. One of them doesn't save and is a huge spender while the other is a saver and spends only once a year. So would bitcoin be a good way to teach them about saving? Since, mining bitcoin is the only way to make alot of bitcoin, I would use a alt wallet to show them what happens if you spend and don't save. What do you think?

I think not. If kids can make money from Bitcoin, that money is too big for them. From there, they spend a lot of money.

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August 11, 2017, 03:49:51 PM
 #133

In a way, you can help them but I think you can help them see it on how your approached would be to them. They have to show interest on what you do so you can get their attention. My suggestion is you have to do something or show something in Bitcoin related that they would be interested in. For, example since they are young you can look for games that can gain BTC or Altcoins. In that way they would feel that it is not that easy to earn bitcoin and would have the feeling that they can't spend it easily because they felt how hard it was to earn.

Hope this give you an Idea. Keep me posted.
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August 11, 2017, 03:56:04 PM
 #134

Depends on their age, kids around 7 years old could be taught about saving and bitcoin is the best way I guess, instead of using fiat currency which they could spend at their will. But it will be different if kids learn to save bitcoin for long term, even if they really knows about bitcoin advantages and the value keep increasing over time, then they should be happy about it.

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August 11, 2017, 04:18:31 PM
 #135

Being a parent is a struggle, you need to guide the kids not only financially and also their way of living. I guess bitcoin is also good for them, an advantage that in an early age they are taught how to earn and save money, but all along I also guess it needs a lot of proper guidance and learning, they still can't manage if they were still below the legal age so guide them properly.

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August 11, 2017, 09:20:44 PM
 #136

So I have 2 cousins. One of them doesn't save and is a huge spender while the other is a saver and spends only once a year. So would bitcoin be a good way to teach them about saving? Since, mining bitcoin is the only way to make alot of bitcoin, I would use a alt wallet to show them what happens if you spend and don't save. What do you think?
I think yes it can help many children to teach about saving money for there future. Iy can do by the people have a better knowledge about bitcoin and they can teach it to the kids out there.
No doubt, we can teach kids about these digital currencies including bitcoins but I don’t think so lecturing them will attract them towards bitcoins.

We can teach them about bitcoins and savings by showing them some videos that are colorful and are all about the future of bitcoins and how bitcoins can help them in future. Besides, games with bitcoins will also help them in learning about bitcoins.


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ilovefeetsmell
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August 11, 2017, 09:21:31 PM
 #137

So I have 2 cousins. One of them doesn't save and is a huge spender while the other is a saver and spends only once a year. So would bitcoin be a good way to teach them about saving? Since, mining bitcoin is the only way to make alot of bitcoin, I would use a alt wallet to show them what happens if you spend and don't save. What do you think?
I don't think Bitcoin would really help on how to save money. Bitcoin can give us an opportunity to earn extra money. Bitcoin also gives work for us. Tell to your cousins on how to earn money through Bitcoin or how their money grow. Encourage them and spread the word of bitcoin.

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August 12, 2017, 01:43:36 AM
 #138

The presence of bitcoin becomes an interesting thing especially can teach to anyone including kids to save and teach the investment early. We must be patient to teach children about bitcoin, because this is the future of the financial system.


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raven7886
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August 12, 2017, 06:44:15 PM
 #139

I think bitcoin would be a great help to teach kids about saving because just like holding or keeping your bitcoin in your wallet it is still considered as saving too. I would teach my kid about bitcoins and savings too, it would be the best example when it comes to saving.
Yes, we should teach them at their early stage how to manage their money well. If we teach them bitcoin just like an ordinary money I think they easily understand that. We should give them some reason why they should start holding and keeping their money in their own wallet. Saving is the best thing to do when we help them to save money as well as bitcoins. I think after a couple of years they may know how really important is saving.

How would you explain that to a kid though? By telling them that when they save money eventually it will grow as time goes by? I don't think kids would want to understand or would even be the least interested if you teach it to them that way. There are more kid friendly ways to teach your kid about saving.
We need to be very creative and interesting with kids in order to teach them something so serious and important like saving money. Explaining them simply the pros and cons of saving money or Bitcoins will not attract kids at all. I think we should let kids enjoy their childhood and it is enough for them to get them introduced to Bitcoins.

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drachman
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August 12, 2017, 09:20:47 PM
 #140

So I have 2 cousins. One of them doesn't save and is a huge spender while the other is a saver and spends only once a year. So would bitcoin be a good way to teach them about saving? Since, mining bitcoin is the only way to make alot of bitcoin, I would use a alt wallet to show them what happens if you spend and don't save. What do you think?
When it comes to teaching kids it is better to keep things simple so if you need to try to explain them about  decentralization, the blockchain, inflation, market cap, and things with that they are going to get confused, it is better to use some bills and teach them about saving that way.
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