Teach Children Financial Education

[Agathamay]

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.

[mk4]

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.

[NdaMk]

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

[Mr.right85]

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.

[Zlantann]

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..

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.
 

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.

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.
  
 

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.

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.

[Ultegra134]

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.

[Adbitco]

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.

[Moneyprism]

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

[ChiBitCTy]

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).

[BADecker]

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.

[Kavelj22]

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.

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.

[Mr.right85]

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.

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.

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.

[OgNasty]

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.

[Iroh]

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.

[Mometaskers]

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.

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.

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).

[BADecker]

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.

[jrrsparkles]

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.

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.

[Marykeller]

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.

[Asiska02]

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.

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..

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.

[Doan9269]

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.