Would bitcoin help teach kids about saving?

[Silberman]

If they started saving now they will be rich in the future for sure. Because you can see bitcoin only growing. Sometimes it went down but it always goes back up. So that is why you should teach kids about bitcoin and saving bitcoin.

Most kids are not going to have the mental maturity to understand that holding bitcoin for a long time is going to give them profits, you must understand that even the most level headed kid does not have a lot of patience these days, in fact patience is not a characteristic that is common among the human population that is why despite the fact that everyone knows that holding is good very few do it.

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[Awnar]

Like cash it doesn’t really teach kids even some adults about how to properly manage spending. It really depends on the person using bitcoin, it also depends on the people around that person or kinds who will teach and remind them about handling and managing their bitcoin. If we will teach kids about proper way of spending and saving its better to show them how to do it not just by words but also by example.

[Pixyoxx]

Yes definitely, alt coins can be a detrimental factor in teaching young children about savings and investment. Here they can see real time fluctuation and how they can make profit out of this. They can learn about the market here with bitcoins and can develop their interest in savings.

[Kr8os]

I don't know if that would encourage SAVING....but investment. But even that would be a very skewed view of what investment would normally look because of the upward trajectory Bitcoin is currently trending on.

[romeitaly]

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, that's a good idea, and I think somehow yes, it will help them to save more money. Just let them know what it is all about so that they can fully understand how it goes and how it works. Bitcoin somehow says to us that netter to save now than to spend because there's a possibility it will get bigger and it is better to spend it later on because you have saved more than enough.

[Altero]

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?

Actually for their young mines, probably it won't work for them. We can't force them to be that way because they just enjoying their time as a kid. It is their time to be in school and learn more and they can learn savings later time.

[megynacuna]

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?

Actually for their young mines, probably it won't work for them. We can't force them to be that way because they just enjoying their time as a kid. It is their time to be in school and learn more and they can learn savings later time.

Sure, it should be a matter of choice and not imposition. The kids themselves should be allowed to make their decisions when they are old enough to understand and absorb bitcoin but we can invest in it for their future sake.

[Asmonist]

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?

As early as possible we should learn to save. When I was young my mother teach me how to save. I used an empty container of an alcohol or baby powder to put my coins. At this time, I guess its best to teach them now especially that there are so many things to spend today. So if they have savings then you can teach them to invest in bitcoin. Kids today are very used to in internet as well.

[Natsuu]

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?

Actually for their young mines, probably it won't work for them. We can't force them to be that way because they just enjoying their time as a kid. It is their time to be in school and learn more and they can learn savings later time.

Yeah I agree. The fact that we can teach the kids to save up even without bitcoin and their interest and focus are into something.
I mean they're too young for this, just let them explore through themselves and without forcing these and those. And when the time comes, for sure they'll be the one to ask you about this bitcoin thing.

[lvincent]

I think btc will really helps the kids to earn some money, like me before btc was introduced to me i did'nt save any money i always spend every money that i had but when btc was introduced by my friend to me my aspect in life change i learn to save money and to plan for my future it really helps a lot.

[szpalata]

I think btc will really helps the kids to earn some money, like me before btc was introduced to me i did'nt save any money i always spend every money that i had but when btc was introduced by my friend to me my aspect in life change i learn to save money and to plan for my future it really helps a lot.

It will help them save but it should be under the guidance of a parent or a guardian so that they wouldn't be easily led astray by what they could do with the funds they are earning and holding.

[Wickedwitch28]

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 it's the best way for kids to teach bitcoins how to save money. There are establishments that accept bitcoins and you can't avoid it because bitcoin is in the market nowadays. I suggest to teach them how to spend right the money.

[Sled]

I think btc will really helps the kids to earn some money, like me before btc was introduced to me i did'nt save any money i always spend every money that i had but when btc was introduced by my friend to me my aspect in life change i learn to save money and to plan for my future it really helps a lot.

It will help them save but it should be under the guidance of a parent or a guardian so that they wouldn't be easily led astray by what they could do with the funds they are earning and holding.

I agree to that. They still need to be guided by their parents because their parents will help them to go to the right path in bitcoin because if they will not be guided by their parents then they will become greedy in spending or using their bitcoin unlike if they will be guided because they will become more conservative about bitcoin and they will prefer to keep it rather than spend it.

[Silberman]

Like cash it doesn’t really teach kids even some adults about how to properly manage spending. It really depends on the person using bitcoin, it also depends on the people around that person or kinds who will teach and remind them about handling and managing their bitcoin. If we will teach kids about proper way of spending and saving its better to show them how to do it not just by words but also by example.

We do not need money to teach about kids about saving, you could use candy, you could give to them some candy and tell them that if they keep that candy for some days that they are going to receive more candy in return then you explain to them the same happens to money and bitcoin and they are going to be able to grasp the concept immediately and understand the concept of saving.

[Barbut]

Like cash it doesn’t really teach kids even some adults about how to properly manage spending. It really depends on the person using bitcoin, it also depends on the people around that person or kinds who will teach and remind them about handling and managing their bitcoin. If we will teach kids about proper way of spending and saving its better to show them how to do it not just by words but also by example.

We do not need money to teach about kids about saving, you could use candy, you could give to them some candy and tell them that if they keep that candy for some days that they are going to receive more candy in return then you explain to them the same happens to money and bitcoin and they are going to be able to grasp the concept immediately and understand the concept of saving.

This is perfect example of how some people give bitcoin to much power. Many similar threads where people think that bitcoin can solve poverty, bitcoin can solve all the problems in economy, and now we have thread about bitcoin helping kids to save?! Bitcoin can`t help in any of this things, bitcoin doesn`t have power to solve anything, its a tool, and tools are used to make things easier and better but only if you know how to use it.
You can give many examples how to teach kids about saving, probably all of them are good, kids are different and each kid needs different approach. When you teach him how to save he will save everything, not just money.

[Geemy]

it's very hard to teach kids about bitcoin , and many another way to teach them how to saving

[selectaselectine]

Yes. I think teaching children on how to spend their money wisely can help them save.

[pecson134]

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?

Yes you could because in bitcoins you can teach them the principle of saving and using it on the right time and the implications when you used up all your saving without hesitation. Bitcoins will just serve as a medium to teach not only kids but also those people who were buying on impulse or what we called impulsive buying.

[thet]

We can teach them how to save and how to value the money that they get from their allowances in school. It will help them to be responsible in the future.

At their very young age, i think they will not appreciate and pickup when i explain with them about bitcoin. I will just wait until they ask me what i am doing, that will be the start of the conversation process.

[TagaMungkahi]

In my opinion, yes but not in the sense of saving but more on holding it, they might hold their money expecting it to grow more in value just like what holding bitcoin.