The lack of adequate financial education being bestow on us at our tender age is one of the reasons why most people tend to go bankrupt when it comes to investment and understanding the market flow of businesses, so in a bid to correct such from happening to the coming generations, at what age should we start educating our kids on different financial principles and how to properly manage funds?
The world as we all know, place more value and refrence to people huge financial net worth than people with skills or wisdom will get when they have no money to show for it, so a bid to make our kids stand out among their pairs in whatever fields/professions they find themselves, it's of high Importance that we teaching them the nitty gritty of finance from a tender age.
A two year old child already know what money his and it uses, so that when you give a child any amount of money, the first time that comes to their mind is how they'll spend it on buying goodies like sweet, chocolate and likes, but for us to instigate a long lasting mindset and lifestyle on these kids, we should always encourage them so save at least half of whatever among they are being given to buy goodies.
Although this might be hard to institute for a start, but when we continuously encourage to save part of the money anyone gave them, it'll get to a point where it would literally becomes part of them, and you forget to remind them or fail to save from a money you earn, they'll be the one to remind you to do so too.
Also apart from saving, other financial knowledge we can give them is a first hand trading strategy and how to make profit from each deals, for example, when you want to buy items in the market, sit them down beside you and teach them how to made a list of each items they want to purchase before leaving home, them will teach strategy planning, it'll also teach them how to be focus and be able to differentiate between needs and want, because getting to the market will surely open their eyes to things that are not in the list, and yet attract their attention.
Also after making the list, you can take your kid along when going to the market, let them see how your bargain price of items with the sellers, and how you're able to pay lesser than the initial price such trader call, these and many more will gradually integrate financial knowledge and discipline on them from a tender age.
In conclusion, so one us really too young to learn about finance, so once a child can differentiate between his/her right hand from their left hand, then we should make sure we imbibe financial knowledge on them, and by the time they grow up, they would have develop a profound financial knowledge that's far beyond their pairs, and these will literally help and guide them in all their dealings.
Thanks for checking my post, have a productive day.
Posted Using LeoFinance Beta
Return from Ask Leo : At what age should we start imbibing financial knowledge on our children? to vickoly's Web3 Blog
