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. 
Topic: Financial Literacy for kids (Read 1605 times)
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.
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.
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'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.
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 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.
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.
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.
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.
As parents, of course, they are responsible for teaching their children about financial management and also telling their children not to spend the money they give them on things they don't need and if they don't need it to buy it, they can save the money their parents gave them, and when they have taught their children to save, the child will of course think first when they want to buy something and if it is not needed, of course they will not buy it. As a child, of course, they will continue to depend on their parents in terms of finances, so as parents, of course, they must teach their children gradually to be able to live independently according to their age so that when they are able to have their own income, they will be able to manage the income they have well.
It is not so formal because children will see the habits of their parents in managing finances and also educational factors at school or the environment will influence someone to be able to manage finances when they are adults and I think when it reaches that point there is no role for anyone else when the child is an adult and it goes back to the overall education given to the child to be independent and manage finances well someday. And I think this is not entirely the responsibility of the parents, it all comes back to ourselves because when we are adults we can make our own choices. 
It is true what you said, about money management depending on their level of education, managing finances is indeed not an easy thing, but at least income and expenses, all of that needs to be regulated, making it the main thing, especially the impact that will arise if you cannot manage your finances.
A child who has known money and also knows the amount of paper money that he often holds every day does need education to be able to manage money well, which basically he also has to know about income and expenses at a certain level in his life. But for those who have not been able to earn their own money in their lives, I think it will be a little difficult to apply it because they still think it is easy to get money through their own parents. However, children who are still fully dependent on their own parents also need to be taught this even though they themselves are not used to applying it in their own lives.
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.
It would be a great idea to put your child in financial literacy training so that they have a much more advanced outlook in thinking.Independent children must be created because they are not born by themselves, how many children in this world are not independent and they always depend on their parents.
When they enter adolescence they do not have a direction to make money because their lives are too pampered.
But you also need to teach children at a mature age because children at a certain age must focus more on education so that the issue of finding finances becomes another stage that needs to be taught.
When it is too early to teach them to earn money, they will definitely not be interested in finishing school because they are used to and enjoy the money they earn.
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 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.
I don't agree with you at all. If someone doesn't have a job or education, it doesn't mean that this person shouldn't be interested in money management. Imagine that such a person wins the lottery tomorrow, or receives a huge inheritance. If he is not economically developed, he will quickly become poor again, after a series of useless purchases. And this is a fact, history knows many such examples from life. And if such people are financially literate, they will be able to manage money wisely.
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. In my country, there are many people from the previous generation who are illiterate but they know how to make money and know how to use money, which means they can also learn financial management even if they are uneducated. Financial management sometimes sounds very abstract and exaggerated, but it is actually simpler than we think. Anyone who has the ability to earn money and knows the value of money can manage their finances well.
Not all poor people lose money just because they lack knowledge or uneducation. Poor people only lose money when they are both ignorant and greedy. But a poor person can become a good financial manager if they know how to control their greed and realize that the world out there is not simple. People who have difficulty earning money will appreciate money more because they know that money is not easy to earn.
My parents don't know how to use a bank but they are much better at managing their finances than I am
.Managing money is not about memorizing formulas. It's about choosing actions appropriate for your life and objectives. Screw those cookie-cutter strategies. Greed and ignorance? Those are the true death agents. You want something? great. But would you be able to afford it? Sort your wants against your reality. That is financial intelligence just there
The big picture is not seen with a diploma. You require awareness of yourself and flexibility. That marks the beginning of actual financial management
I don't agree with you at all. If someone doesn't have a job or education, it doesn't mean that this person shouldn't be interested in money management. Imagine that such a person wins the lottery tomorrow, or receives a huge inheritance. If he is not economically developed, he will quickly become poor again, after a series of useless purchases. And this is a fact, history knows many such examples from life. And if such people are financially literate, they will be able to manage money wisely.
It is true what you said, about money management depending on their level of education, managing finances is indeed not an easy thing, but at least income and expenses, all of that needs to be regulated, making it the main thing, especially the impact that will arise if you cannot manage your finances.
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.
I just found out now about financial literacy booth camp from this topic. This kind of training does not exist at my place, is this a common thing in Western countries?
When I checked it on Google and click on the first result that appeared, they have several classes which is for junior, teen, youth, women, family and business. Let's put aside family and business, since I believe we can picture what are the gonna teach there, but why it specifically has class for "women"?
When I checked it on Google and click on the first result that appeared, they have several classes which is for junior, teen, youth, women, family and business. Let's put aside family and business, since I believe we can picture what are the gonna teach there, but why it specifically has class for "women"?
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This is a good point because indeed we cannot provide a good condition in any case including in the issue of financial learning to children if we do not know and do not understand what finance is like so indeed in this case we must make us understand first before finally our children provide understanding to our children.
In addition, actually in this case every child will definitely do according to what parents do in any case because parents are the first teacher for children so that every behavior, be it treatment or actions that we do in everyday life, will be recorded and done by children.
If the parents do not understand how to manage finances and like to squander money (cannot run finances properly) then indeed the child will also definitely do things that will not be much different from what his parents do.
Yea, like you said, parents are the first teacher and they can not teach what they don't have idea about, they can only give the knowledge they have. So, children will be at advantage to learn quickly from their parents if they have good financial knowledge.
I don't agree with you at all. If someone doesn't have a job or education, it doesn't mean that this person shouldn't be interested in money management. Imagine that such a person wins the lottery tomorrow, or receives a huge inheritance. If he is not economically developed, he will quickly become poor again, after a series of useless purchases. And this is a fact, history knows many such examples from life. And if such people are financially literate, they will be able to manage money wisely.
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. In my country, there are many people from the previous generation who are illiterate but they know how to make money and know how to use money, which means they can also learn financial management even if they are uneducated. Financial management sometimes sounds very abstract and exaggerated, but it is actually simpler than we think. Anyone who has the ability to earn money and knows the value of money can manage their finances well.
Not all poor people lose money just because they lack knowledge or uneducation. Poor people only lose money when they are both ignorant and greedy. But a poor person can become a good financial manager if they know how to control their greed and realize that the world out there is not simple. People who have difficulty earning money will appreciate money more because they know that money is not easy to earn.
My parents don't know how to use a bank but they are much better at managing their finances than I am
. It is true what you said, about money management depending on their level of education, managing finances is indeed not an easy thing, but at least income and expenses, all of that needs to be regulated, making it the main thing, especially the impact that will arise if you cannot manage your finances.
A child who has known money and also knows the amount of paper money that he often holds every day does need education to be able to manage money well, which basically he also has to know about income and expenses at a certain level in his life. But for those who have not been able to earn their own money in their lives, I think it will be a little difficult to apply it because they still think it is easy to get money through their own parents. However, children who are still fully dependent on their own parents also need to be taught this even though they themselves are not used to applying it in their own lives. 
I don't agree with you at all. If someone doesn't have a job or education, it doesn't mean that this person shouldn't be interested in money management. Imagine that such a person wins the lottery tomorrow, or receives a huge inheritance. If he is not economically developed, he will quickly become poor again, after a series of useless purchases. And this is a fact, history knows many such examples from life. And if such people are financially literate, they will be able to manage money wisely.
I agree with you that everyone must of course have skills in terms of financial management whether they have a job that has an income or not because no matter how much money is owned by someone who does not have skills in terms of financial management, of course the money they have will not be able to be used for things that will benefit them and it will certainly be able to easily make them poor. However, if someone has the ability to manage their finances well even if they have a small income, of course they will be able to manage well and use what they really need.Just because you have a big income, doesn't mean you shouldn't learn investment properly, nor does it mean people with low income shouldn't learn investment since they won't need it, everyone needs to learn financial responsibility and management, no matter how much money they make.
I don't agree with you at all. If someone doesn't have a job or education, it doesn't mean that this person shouldn't be interested in money management. Imagine that such a person wins the lottery tomorrow, or receives a huge inheritance. If he is not economically developed, he will quickly become poor again, after a series of useless purchases. And this is a fact, history knows many such examples from life. And if such people are financially literate, they will be able to manage money wisely.
It is true what you said, about money management depending on their level of education, managing finances is indeed not an easy thing, but at least income and expenses, all of that needs to be regulated, making it the main thing, especially the impact that will arise if you cannot manage your finances.
I don't agree with you at all. If someone doesn't have a job or education, it doesn't mean that this person shouldn't be interested in money management. Imagine that such a person wins the lottery tomorrow, or receives a huge inheritance. If he is not economically developed, he will quickly become poor again, after a series of useless purchases. And this is a fact, history knows many such examples from life. And if such people are financially literate, they will be able to manage money wisely.
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. 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'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 don't agree with you at all. If someone doesn't have a job or education, it doesn't mean that this person shouldn't be interested in money management. Imagine that such a person wins the lottery tomorrow, or receives a huge inheritance. If he is not economically developed, he will quickly become poor again, after a series of useless purchases. And this is a fact, history knows many such examples from life. And if such people are financially literate, they will be able to manage money wisely.
Are you aware of the saying, "You can't give what you don't have? Some parents on their own cannot give their kids financial knowledge because they themselves don't have it, or perhaps they think they are okay the way they are.
In addition, actually in this case every child will definitely do according to what parents do in any case because parents are the first teacher for children so that every behavior, be it treatment or actions that we do in everyday life, will be recorded and done by children.
If the parents do not understand how to manage finances and like to squander money (cannot run finances properly) then indeed the child will also definitely do things that will not be much different from what his parents do.
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