Financial Literacy for kids

[N.O]

So by investing time and resources in a financial literacy boot camp, you'll be giving your child a valuable head start on their financial journey.

Financial education was a part of education that our parents never really invested in a lot of timing trying to expose us to, and that is the reason why some of us struggled a lot to really find a way to make money and also struggle to keep money after we start getting it. Early exposure to financial education as a way to boost financial literacy among our kids is a way to provide early assistance to our children helping them to find wealth, which is an aspect some of parents failed in.
A financial literacy boot camp may seem boring to your kids at first but later in the future they would really understand the benefits that these early education has done for them

Correct. In most of country, financial education is almost zero. There are no institutes in which teachers taught the lessons of finance. In my country, most teenager don't know how to invest and where to invest the money?
That is reason of failure of our country. Our leaders are scamming in many things and political leaders are dominant on country and they didn't do anything for education. The future of my country is not bright,the reason is lack of financial education. India is progressing due to financial education and there are many leaders in Indian which gave direction to the students.

[Justbillywitt]

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.

There is no level in one's life that the person won't touch certain amount of money, no matter how little. If you own little you need sound financial knowledge and management to build up that money to something big in the future. For those that will have lots of money already waiting for them before they finish college, they will still need financial knowledge and management to sustain the wealth and keep the wealth going from their generation to the next generation. So I don't think one have to wait to get a job or finish college before they learn financial management. If kids don't know the value of money when they are growing up, they will spend it recklessly as they are adults, because they don't know the value attached to money. So I think financial literacy for kids is a good decision to take.

[Baki202]

Well, yeah, parents can teach children about it by gradually teaching them how to manage their pocket money like you said, teach them how to spend it, and also teach them how to save from it for the future, just so that they can understand that it's not all the time they can have money and ones they don't have but are faced with difficult situations, that's when their savings can save them from such emergencies. Then the problem to look at here is, what if they are parents who don't even have that financial literacy? How then can they impact to their kids a knowledge they don't have?.

How to manage money is one of the first things that a parent is supposed to teach a child it should be attached to their growth plan because some kids will grow up with proper spending management and the earlier they learn how to spend money because when a child gets used to spending money and there is no money coming through again how do you manage, because anything can happen anytime, and most of the issue of crime are because people can no longer get what they have been getting and it has been a challenge because when you are used to a particular lifestyle and it is no longer there coping is going to be hard. so even when they ask you for something even if it is available you should not give them or make them work for it so that they can know the value of money. and they will appreciate every single penny they have.

[SamReomo]

But for young children, they need more knowledge than just focusing on finances and we need to ensure they have a beautiful childhood.

Yes, I also think that children need all type of education not only financial education. These days its essential to teach your kids yourself about the good and bad because the world is changing at so fast speeds and those times are gone when you could allow you children to learn at schools or academies.

I believe that best teacher for a kid is their father and their mother because they really try their best to protect their children from the wrong side of the society and in such case social awareness is also important these days. Once your children know good and bad then you may proceed to teach them about finances.

[puloweh555]

I would oppose the idea of ​​children as young as 7 years old taking finance courses or financial bootcamps like your idea. In my country, 7-year-old children have not yet finished first grade. Is it too much to force a child who has not yet mastered basic addition, subtraction, multiplication, and division to know about finances? Why can't we give them a beautiful childhood? And what will ensure that forcing children to learn about finances early will help them become rich people later?

I am not against the idea of ​​teaching finance to children, but I think it is not necessary to teach it too early when children have not even finished first grade.

Having a financial boot camp is actually a good idea but only to those who are ready enough to absorb all the ideas and information. If we are dealing here with a child below than 7-year old, that would never work for him. Instead, giving him the freedom to do what he want and guide him all the way, that would mean a lot to him and discover new things on his own, but not in the aspect of finances because children at that age will never be interested in that kind of topic.

Financial literacy is a must, but it should only be introduced to those kids who can understand already the value of money, and not on kids that their life is only focused on playing games.

Yes, that's right. Financial literacy in children from an early age has indeed become a must, because it is important for someone to have the ability to organize and manage finances, so that they are able to make wise decisions in their lives in the future. Therefore, financial literacy skills are not only important for us as parents, but this intelligence also needs to be developed early on in children.

However, at the age of seven, of course this will make it difficult for children to understand heavy material, especially about finance, so it is not right if we force children to understand what they should not understand, let alone provide financial literacy training, so let them enjoy their childhood first. However, the basics of financial literacy must still be introduced as early as possible even though they are still seven years old so that this can make them accustomed to a good culture. the basics of financial literacy that must be taught such as introducing the meaning of money to children, telling them the benefits of saving habits, to teaching them to prioritize needs over wants.

[Alpha Marine]

I don't think this is necessary. Most things kids learn in boot camp don't grow with them to adulthood.
Financial literacy is good, but I don't think it's something that can be taught in theory, I believe it's something that is learnt practically. The parents play the biggest role in educating their kids on this. You use real-life situations to teach kids things. It's not something they learn once and it's over. It has to be continued. They have to know the importance of money, how difficult it is to make money, and how to always make sure the money they have struggled to make should yield more money. Kids of 10 years won't understand this, so you find a way for them to get it and you keep telling them in different ways are they grow up.
A financial boot camp for me is a waste of time for everybody involved.

[Maslate]

But for young children, they need more knowledge than just focusing on finances and we need to ensure they have a beautiful childhood.

Yes, I also think that children need all type of education not only financial education. These days its essential to teach your kids yourself about the good and bad because the world is changing at so fast speeds and those times are gone when you could allow you children to learn at schools or academies.

I believe that best teacher for a kid is their father and their mother because they really try their best to protect their children from the wrong side of the society and in such case social awareness is also important these days. Once your children know good and bad then you may proceed to teach them about finances.

Aside from schools and other learning institutions that will offer financial education to children, there is home where all types of education starts. And there are parents and older siblings that are capable to instill in their young minds the value of money and how it will be best achieved while growing up. So if this type of scenario will be applied at home, I guess this financial boot camp is never necessary at all. Yes, it can actually help but still the most powerful and big help are coming from the people around that surrounded the children most of the time.

[gunhell16]

I don't see anything wrong if we teach children about financial literacy; the only thing I don't understand is the boot camp that OP is talking about. So if we are going to teach the children about financial matters, we should also look at their capacity to  understand what we have to say.

It's hard because you only teach, and then you don't see that they learn from what we teach. Let's just remember that they are still children, and the majority of their thoughts are just playing.

[SamReomo]

So if this type of scenario will be applied at home, I guess this financial boot camp is never necessary at all. Yes, it can actually help but still the most powerful and big help are coming from the people around that surrounded the children most of the time.

I believe financial boot camp is still somehow needed because in some families even parents and siblings aren't enough knowledgeable about financial matters and in such cases it will be quite valuable for teenagers to join such boot camp.

I know that basic financial education is always thought by ones parents or siblings but when it comes to deep understanding of it then a teen should get encouraged to join a boot camp or these days it can be learnt by watching some good courses that are available. One can learn financial knowledge from home these days but still some guidance is needed.

[Mahanton]

But for young children, they need more knowledge than just focusing on finances and we need to ensure they have a beautiful childhood.

Yes, I also think that children need all type of education not only financial education. These days its essential to teach your kids yourself about the good and bad because the world is changing at so fast speeds and those times are gone when you could allow you children to learn at schools or academies.

I believe that best teacher for a kid is their father and their mother because they really try their best to protect their children from the wrong side of the society and in such case social awareness is also important these days. Once your children know good and bad then you may proceed to teach them about finances.

Aside from schools and other learning institutions that will offer financial education to children, there is home where all types of education starts. And there are parents and older siblings that are capable to instill in their young minds the value of money and how it will be best achieved while growing up. So if this type of scenario will be applied at home, I guess this financial boot camp is never necessary at all. Yes, it can actually help but still the most powerful and big help are coming from the people around that surrounded the children most of the time.

Yes, i do agree with this specially if we do speak about those values that being taught in the home/house by the parents. Same goes with other potential education that could be thought.
Although its not something that be compared into those schools/institutions but at least they do already have that slight idea on what it is. Speaking about financial literacy then its not something that would really be hard
to be taught into our kids even with the basics but the more technical aspect then it could really be learned in school but at least they do already have the idea on what it is. It would really be just
depending on a certain parent or guardian on how they would really be doing things. There are really who are mindful and there are ones who doesnt really care and just let everything that school taught on everything.

Well it would really be that situational because not all will really be having those kind of insights towards thing. Wrong or right it wont matter because as a parent we do have our own ways on how we would gonna raise up our children as long we arent that teaching them bad things because as a parent then this would really be something our main priority. Whose parent would really be that wanting on teaching our kids
shit things or whatever those ideas? None right? The good thing that if these kids are really that being taught early then they do already have that kind of advantage whenever they do have those discussions
about on a certain thing.It would really be something situational.

[barisbilgili]

I don't see anything wrong if we teach children about financial literacy; the only thing I don't understand is the boot camp that OP is talking about. So if we are going to teach the children about financial matters, we should also look at their capacity to  understand what we have to say.

It's hard because you only teach, and then you don't see that they learn from what we teach. Let's just remember that they are still children, and the majority of their thoughts are just playing.

It is still reasonable if we do not force them to understand what we teach about financial literacy because it is true as you said that children tend to only think about playing and they do not care about the future so it becomes an important role for us to be able to teach them slowly that financial literacy is quite important for their future.
And I think for parents it is not just a matter of teaching children but also having to set an example because in any case a valuable lesson for children is the behavior seen from their parents.

[bakasabo]

The best way to teach kids financial literacy is to take them with you to work for a whole day or even a week and show them how money are earned, then give them examples what they can do with earned money. But simply explaining kids how to invest, spend wise and for this reason organize a special camp for them, that is kind of showing only a final stage of a process. With "such" knowledge, they will grow up only as idea generators who does not know where to get first money. For little kids, the proper financial literacy is an explanation and showing example that money dont grow on the trees, and for their "I want", parents have to put a lot of effort.

[Oluwa-btc]

This idea could help the next generation, a lot of us have gone to college and graduated,all we learnt was dy/dx, we were not taught how to make money which is the most important aspect of life.. it's very funny that even those that studied business related courses in school don't even know it takes to start a business.. exposing kids to entrepreneurship skills and other things that can equip them financially at a young age is going to be very helpful to them, many of us were not given this opportunity, learning a high value skill at a young age will definitely make anyone stand out and be exceptional, I think this is a good idea

I agree to this entirely, teaching children especially the young ones financial education is of great importance to oneself and the society at large, having read the book rich Dad poor dad,it's an eye opener that one should engage their kids in such financial literacy.
Over the years we've been adopting the old policy of going to school and learning managerial skills and all that why not we adopt this now and see how it unfolds and I bet it'll turn out Great.

You can choose to educate them in whatsoever way,like engaging them in a conversation of sort usually during eating at the round table just like it was illustrated in the rich Dad poor dad,that way your inculcating them the mindset and by taking it further you can choose to engage them in more lessons, tutorials and boot camp just as OP said.
I think if we adopt this system the upcoming generation and Young ones will do alot better with our lapses.

[fuguebtc]

So if this type of scenario will be applied at home, I guess this financial boot camp is never necessary at all. Yes, it can actually help but still the most powerful and big help are coming from the people around that surrounded the children most of the time.

I believe financial boot camp is still somehow needed because in some families even parents and siblings aren't enough knowledgeable about financial matters and in such cases it will be quite valuable for teenagers to join such boot camp.

I know that basic financial education is always thought by ones parents or siblings but when it comes to deep understanding of it then a teen should get encouraged to join a boot camp or these days it can be learnt by watching some good courses that are available. One can learn financial knowledge from home these days but still some guidance is needed.

Studying at home or going to training camp is the choice of each parent, if they can directly teach their children, it is much better than sending them to a training camp. But as you said, many parents lack financial knowledge so choosing a training center or boot camp would be the solution.

I just see the issue we need to worry about is what age is appropriate for children to start learning financial knowledge. I support this idea, but I don't think that teaching finance as early as possible is better for them. At different ages, our brains have different limits and that is why the Ministry of Education has researched to come up with appropriate educational programs for each age group. So I want to know what age people think is the right age to start with financial literacy?

[Rockstarguy]

The best way to teach kids financial literacy is to take them with you to work for a whole day or even a week and show them how money are earned, then give them examples what they can do with earned money. But simply explaining kids how to invest, spend wise and for this reason organize a special camp for them, that is kind of showing only a final stage of a process. With "such" knowledge, they will grow up only as idea generators who does not know where to get first money. For little kids, the proper financial literacy is an explanation and showing example that money dont grow on the trees, and for their "I want", parents have to put a lot of effort.

Depends on the kind of work though but if it is a kind of work inform of business like selling or giving out something in exchange of money it will really build them while glowing up. One of the smartest kids that I have ever seen are those who accompany their parents to do business, kids like this grows up with a business mindset and when it comes about management of money it is something they know how to better.

 If it is a kind  of work that is different from what I just explained it will make no impact in the life of the child, maybe an office kind of job. If you want to teach  your kids financial literacy you don't even need to stress yourself so much trying to teach them this, first let your financial lifestyle be good  example to them, then they will quickly grab the lifestyle of financial management.  
Children always want to learn and imitate the lifestyle of parents. If parents lack financial literacy it will be difficult for them to let their kids adopt the lifestyle.

[Churchillvv]

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.

Naah, I disagree with this impression of having the knowledge is pointless although to some point you might be right but I solidly disagree.
Most people are opportune to have the knowledge only but from the knowledge which they have they monetize them and make good fortunes from it, if you say have the knowledge of financial management without the money is pointless you also mean that people who had no bitcoin or cryptocurrency but are will to have the knowledge here and from signature campaigns they got the bitcoin and money which they never had before joining us here.

I believe no knowledge is a waste, so if you know how to manage money and you don't have money you can trade that knowledge for money, the world is not longer the same so knowledge brings opportunities now and money comes from the opportunities.

[bakasabo]

The best way to teach kids financial literacy is to take them with you to work for a whole day or even a week and show them how money are earned, then give them examples what they can do with earned money. But simply explaining kids how to invest, spend wise and for this reason organize a special camp for them, that is kind of showing only a final stage of a process. With "such" knowledge, they will grow up only as idea generators who does not know where to get first money. For little kids, the proper financial literacy is an explanation and showing example that money dont grow on the trees, and for their "I want", parents have to put a lot of effort.

Depends on the kind of work though but if it is a kind of work inform of business like selling or giving out something in exchange of money it will really build them while glowing up. One of the smartest kids that I have ever seen are those who accompany their parents to do business, kids like this grows up with a business mindset and when it comes about management of money it is something they know how to better.

 If it is a kind  of work that is different from what I just explained it will make no impact in the life of the child, maybe an office kind of job. If you want to teach  your kids financial literacy you don't even need to stress yourself so much trying to teach them this, first let your financial lifestyle be good  example to them, then they will quickly grab the lifestyle of financial management.  
Children always want to learn and imitate the lifestyle of parents. If parents lack financial literacy it will be difficult for them to let their kids adopt the lifestyle.

Being an example for kids is a must, but not always, when parents are wealthy, kids follow their footsteps. While parents worked hard their life to earn and become wealthy, kids will always have an easier start. In fact, such parents often say that they dont want their kids to work as hard as they did. And I would debate about children always want to imitate parents lifestyle. Specially modern kids. They are not used to difficulties. Nevertheless, from my point of view, the smartest kids are not those who accompany their parents in business, but surpass them in business.

[Dr.Bitcoin_Strange]

so even when they ask you for something even if it is available you should not give them or make them work for it so that they can know the value of money. and they will appreciate every single penny they have.

Not that financial literacy is the first thing that a child must learn; there are other primary things, but parents know when is the right age to introduce financial literacy education, and it's not that it must be taught at once; it usually involves some experimental process, just like the example you gave. Sometimes too, you can give them pocket money and ask them to only spend half of the money for that day and spend the remaining half for the next time they want something for themselves, and by so doing, they will then understand the importance of saving and having a reserve for next time. 

[Uhochi]

Indeed, it is crucial to catch them young, at a young age their minds are sharp and can retain information better, so they should be prepared for financial independence and literacy. Teaching children early helps in the long run to assist in improving the economic stance of a country. Because some grown ups that don't know how to create wealth end up increasing the rate of unemployed youths. While those that don't know how to manage wealth end up misusing funds and causing societal havoc. So indeed equipping children with financial literacy so they grow into it, is a must responsibility for parents and adults around children.

[ndutndut]

so even when they ask you for something even if it is available you should not give them or make them work for it so that they can know the value of money. and they will appreciate every single penny they have.

Not that financial literacy is the first thing that a child must learn; there are other primary things, but parents know when is the right age to introduce financial literacy education, and it's not that it must be taught at once; it usually involves some experimental process, just like the example you gave. Sometimes too, you can give them pocket money and ask them to only spend half of the money for that day and spend the remaining half for the next time they want something for themselves, and by so doing, they will then understand the importance of saving and having a reserve for next time. 

Financial literacy can be said to be one of the main parts of our children's lives in the future. Especially in an era like today without money, we can't even live because everything must be with money. That is why good financial literacy is needed for children.

Because teaching financial literacy to children from an early age will be the first step in shaping their character as adults and that can happen because of habits. As previously stated, habits such as not wasting money need to be taught to children, when giving pocket money not spending it immediately must be accustomed to valuing every penny, getting them used to saving and buying what is needed not buying unnecessary items. Because this habit will affect and leave a mark on children until they are adults. Because the most effective age to teach financial literacy to children is when they are just starting to reach the age of 6-7 years and above.