Topic: Financial Literacy for kids - page 4. (Read 1613 times)

Catch them young is the new thing now, we don't have to wait until our kids are adolescent before we start teaching them about being financially responsible but still we have to allow kids be kids and not spoil their childhoods with so much serious responsibility. Allow the kids to play around but when there are opportunities to teach them impactful financial ideas, don't waste them but do the needful. Each kid should have an age that they begin to pick interest in things therefore there shouldn't be a general year to start teaching them but study your kids and you'll know when to start just as you do for the "the talk" (sex education).


That's the goals, the world is getting congested and without a skill you'll soon be of no value. The skills can be manual or of knowledge to use as an edge over others. Our kids should have skills in tech, crypto, forex and general financial education which will help them to understand life before it deals with them. We didn't have this privileges therefore we have to give to our kids if we want them to standout among their peers and the society at large.

I do much believe in the saying that you lie on your bed the way you make it and what you teach a child early in life and he it she grows with it, it hardly departs from the child.

Financial literacy is one thing everybody should be interested in and imparting it in the young ones will help promote a future free from unnecessary financial mismanagement and financial irresponsibilities displayed by youths and adults alike.

The boot camp is a nice thing so they can learn among themselves and motivate each other to follow suit in the essential learning. Good luck with your project and I wish more parents buy into your Idea.

Acquiring knowledge is something that can help us the little ones growing so they can keep getting skills in areas they are good at and how to monetize to make money for themselves. The way the world is moving , we might be very surprised that soon certificate would no longer be a qualification of getting a job. Things are becoming very easy now and the use of artificial intelligence is going to take the industry by should making many people to lose their jobs without having something better or jobs that would be able to pay their bills. In the next 10 to 15 years coming, we might not have so much human labour again because many people will not get employed because of AI robot doing almost all our jobs.

Initial financial knowledge from their parents and making up some more learning even more on the moment that they would really be knowing up something more when they do go to school or finish up their studes.
We do know that there are really learnings on which we could really be able to get from our parents on which its something that would really be depending on how our parents would really be that having that kind of responsibility when it comes into having these things specially on teaching up their children. We do know that there are ones who are mindful and there are ones who dont care but majority or usually of parents then they would really be thinking up on whats the best for their children from small until they would really be that become independent. We do know on how hard to live this world is considering that way of living
becomes even more expensive due to inflation and this is why its relevant or something that would really be that recommended that you should be letting do know at least as early as you could.

Although this isnt really that something mandatory but you could really be able to at least know or see on what are its advantages and what are its disadvantages. It would really be that impossible that
you wont really be able to see about its positive effect on the time that they are really be that wary at least on how things works and on how things being done on the right way.
Not only limiting to financial literacy but also in other things as well that we do have in this life.

Life is way harder when you climb up at some certain age that is the reason why if it a child is smart then it is a good idea that they get financial knowledge from their parents. Financial knowledge may not be only how to make money or showing them your nature of business it compromises the attitude towards having money and how to grow it. It also include making them understand see a brighter vision from just making money but being wealthy. What makes a wealthy man is the plans and goals he makes at some point in life in terms of diversification and investment. Such can be taught to a child because the world has gone so wild that kids at 18, 16, or even below makes lots of money from social media, playing games online, and other online means of making money. Would let your kid be exempted?

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.

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.

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. 

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.

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.

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.

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?

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.

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.

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.

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.

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.

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.

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.

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.