Financial Literacy for kids

[bakasabo]

A farmer kids comes to his dad and says that he has learned from financial literacy, that tomorrow will be the best time to buy TSLA stocks, as the company plans next quarter to release new Tesla model. The farmer says ok, but first the kid needs to help mom to milk cows, clean pigs pen, feed chicken and he is free for the rest of the morning and can ride his bicycle with his friends, he has cleaned his BB gun so he can go hunting, and they need to catch fish at the sunset.

The moral of this text is - not every kids needs financial literacy, a kid must spend his childhood as the rest of the kids, as it is given once, and he has plenty of life to learn about finances. Kids know basics of financial literacy from playing "store and customers" and that is more than enough for them. They can learn the rest when they are teenagers, and not everyone needs to be a "white collar" when he grows up.

[summonerrk]

In the modern world, financial literacy comes only to those who want to understand that money can work as a financial instrument: stock exchanges, exchange rate differences, investing - there are plenty of ways to do it so that you don't have to get up for work every day.
But still, the vast majority of people treat money very frivolously. They think that they need to spend all the money that ends up in their hands as quickly as possible.

That's because they think that they should do it because the status of the world is uncertain. Even living in a peaceful nation is no longer peaceful because of the cost of goods are rising quickly and that's why we just live to work everyday and we eat to be alive. But it's true that if people will change their perspective towards money and on how they're going to deal with it, there's a very likely that they're going to see the difference out of those who knows financial literacy well and those that don't. And with kids learning it at a young age, they will going to bring that until they become older or will have some means to remember that in one day of their lives, they've been thought on how to be financially well.

But I will tell you honestly that I do not believe that in the near future the overwhelming majority of people will suddenly try to become financially literate. It is we, the people of the cryptocurrency world, who are lucky that we were inspired, or our friends inspired us to improve ourselves.
But the majority of people in the world do not think about tomorrow. They do not care how they will live in a year, two, ten. But life goes forward and we will all find ourselves in the future.

[ChiBitCTy]

Seriously, a boot camp for money management? when we're living in the world where field jobs is getting scarcer, having a degree doesn't guarantee you will get a job and learning a new skill in boot camp doesn't guarantee you will get a job?

I'd say money management/financial literacy is good when you already have a job, if not, mastering money management when you have no money is really pointless.

I couldn't disagree more.  This is exactly why so many people struggle with financial management.  One of the things that is not covered in school is basic finances.  Going through grade school, high school and then college, I never as much learned how to manage a check book (which is mostly a thing of the past now, but point is still the same).

As a parent you should be teaching your kids basic finance early on, as it will prepare them greatly for down the road.

[summonerrk]

Right now I would recommend "Rich Dad, Poor Dad" to all children. It is definitely a useful book, because even the title says that this literature by Kiyosaki is designed for people who are not initiated into matters of financial literacy, including children.
And it is written in an easy language, which experienced investors will even find a little boring and too much of a study of simple financial phenomena.

[CageMabok]

I agree but also if they have no education most likely is that they never had access to proper financial education nor will they ever get one unless they actively seek out a financial advisor. It’s very common for poor people to lose the money they quickly gained due to exactly this: lack of knowledge. Some even do not know how to operate a bank account.

I have also found something like that in my life today where there are some poor people that I found who can't operate their bank accounts after they created them with the help of others (the bank). And after I investigated it turned out to be true as you said that most poor people often do not have a good level of knowledge in the financial field so they often cannot earn money in a smart way and also cannot use money wisely on things that are so important. However, I also do not deny that at this time there are some poor people who have succeeded in becoming rich after they learned more important things in their own lives.