Topic: Financial Literacy for kids - page 6. (Read 1613 times)

While I agree with giving our own children an understanding of the importance of finances, I am opposed to pushing the envelope and taking it further as you suggest that finances should be taught from an early age.

It will only burden and your child will also not catch it well because it is not his time, let the child grow up according to his age because after all for children of that age they actually always learn what the adults around them do so that when we do good things including in behavior and financial control then the child will also learn by himself without having to demand that they learn what they are not good at.
Children are a reflection of their parents so when parents do not do well in terms of behavior and money management then do not blame the child when doing the same thing because for children of that age they only copy paste what the closest people around them do.

Fact: Your children's finances will definitely affect you as a percent, and the only way to stop that regret in the future is to give them the knowledge, and you can’t give them the knowledge when you also are not practicing it. What I mean here is that if you, as a parent, have poor financial planning, your kids will find it hard to accept what you tell them because they mostly get knowledge by seeing what you practice, so definitely to make them practice and understand more about financial literacy, you have to also practice it as their parents. 

Because future regrades due to wrong financial decisions and planning will be complicated based on the situation, and if care is not taken, it can be hard to solve, which means your kids will also end up in poverty and regret their actions based on finances. 

As a parent then it would really be that something that you will really be that doing on guiding up your kids while they are growing and teaching up things on which you do see for it to be right.
It would really be that understandable that there would really be things on which you would really be trying out to explain it out but of course there would really be things on which there's a specific time
on where you would really be trying out to explain it to them specially when it comes to financial literacy and other things which are really that correlated to it. We do know that when it comes to this aspect
then it would really be something that ideal on telling them when the time is right.Although on which this one could really be that thought in to  the school but still would really be that different
when it comes to pure dealing up with it but somehow it would really be giving out that kind lacking in compared when we are parents would really be adding up in related into this.

Financial literacy would really be added up on the curriculum on which this would really be leaving no worries about on learning it and thats why they would really be that going
add up as parents on which this is really that sense of responsibility. We do know that when we do have kids then it would really be that our responsibility on teaching up things on which it would really be
that according into our own real experiences in life so that time comes that they would really be that prepared.

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?.

As a child, of course, they cannot understand it well if no one has told them about it and this is the responsibility of parents to be able to teach their children about financial literacy first and the rest they will be able to get in their education, because if a child does not understand this until they are adults and have their own income, of course this will be very unfortunate, they will not be able to manage the income they have properly. It is true that it would be better to teach them from an early age so that we do not regret it when they are adults because if we do not teach our children about this, of course when they are adults and see them unable to make the right decisions with the money they have, of course it will make us sad to see their lives that will experience difficulties in terms of finances.

As We are heading for the next era we need to be ready for all because this is important for us and kids as I am checking this all it's good we understand importance of financial literacy is important for kids even we are having some difference about few things, but we have to understand it's all part of debate or talk I am also having strong feeling we need to start about things like these from early age because this will be give them good view about this all, and they will be able to have better things from their early start as well.

Sending them in camps are not important because we can do this all at home with many other soft ways as well because we are living in different regions with many things are completely different, so this is also having impact on kids because if they will be able to have learned things to home and round this will give them better experience and chance of understanding about this.

It must be admitted that financial literacy is a long-term investment in knowledge for children, where they will have a strong foundation in the future. Of course, as parents, we must be good at positioning ourselves, in the sense that parents are direct examples for children. In general, every parent must continue to learn about the procedures for providing financial literacy to children, we must update the knowledge we received from our previous parents, because we must keep up with the times. I mean we have to re-evaluate the literacy we have before teaching children, maybe some are no longer suitable or are no longer relevant in the current era and in the future.

Meanwhile, I am sure that every family has its own traditions in anything, that is what makes a family and the people in it look unique. But in general, we can teach children about financial literacy with simple actions such as managing pocket money. I think many parents will start there, and it is important to explain to them to recognize well between needs and wants. We as parents can then evaluate it periodically, so that we can know the level of understanding of children in managing finances, this is the best form of guidance I think.

Actually, if my child knows more about financial literacy, it will definitely help them a lot. It tends to be that most of the teenagers are making wrong financial decisions at an early age, and this will affect them bitterly in the future. To avoid all this, they need to have good financial knowledge since their young age to avoid making mistakes in their prime. 
 
Because we even will know the best financial decision for himself from his age, he will hard take a wrong decision in the future because he will always get concerned about the complications that his decision might cause him if he really made a wrong decision, so to me, it will be best to let the kid have knowledge on finances and financial decisions for future use. Beside children then to learn very quickly and it stay in their brain permanently. 

It is not pointless, however I also think it is too much to try to get kids into a boot camp just to learn something that their own parents could teach them, because even if trying to explain fully how the economy works is a topic that is too complex, it is way easier to explain to them how they can make use of their resources in the most efficient way, and how if they can maintain this for the long term, they can reap some amazing benefits down the line.

It's amazing that it is a topic heavily discussed and everyone seems to know that kids need more financial education, yet some of the most developed countries in the world still do it badly or not enough. Maths is super important, however in practical terms financial education is almost equally important. It should be the bedrock of education, but it feels like politicians continually plan to keep the populace dumbed down and many will not learn key parts of how the business world works their whole lives. It plays into all the terms and conditions that financial corporations rig in their favour, which ends up costing the lowest earners vast amounts of money.

Well, this is not the first time that this topic has been raised, and the importance of financial literacy cannot be overemphasized. It's not only recommended for kids; there are many adults who lack knowledge of financial literacy, and according to some financial experts, the reason why some people are still poor is because they lack good financial knowledge.

Some people have earned a significant amount of money in their lives that would have been enough to make them start a better and more comfortable life, but they mismanaged the money and didn't have the opportunity to make that amount again in their lives. Some people also mismanaged their income when they had very few responsibilities, and because they didn't invest in their future, it affected them when they were faced with huge responsibilities. 

So, it is wise for everyone to have good financial knowledge, and it is also the responsibility of parents to make sure their children are financially literate. 

Indeed, children who are 5 years old should train them in literacy, where at an early age individuals can apply skills and abilities in developing things such as finances, where they indirectly understand the meaning of saving money, investing and other things in solving and thinking about which are positive and negative in using money, so that when they grow up they know the meaning of money itself in saving, saving and so on.

But for children, don't put too much pressure on the Literacy process, follow the flow they want, because they are still children, entertainment games are part of them, just to understand finances in general, it doesn't matter, forcing them will result in children having a bad impact on them. they.

I’m actually not against with the idea but I don’t think teaching financial literacy for young kids will be totally absorbed by them since their focus is not yet on how to manage their finances or build financial literacy but obviously, it’s all about play and having fun. Learning at their age is more effective if they are more encouraged to play and play.

However, we can still teach them at home about saving even at an early age. If they have received cash gifts from different occasions, let’s educate them about the value of money so they will come to understand that it’s not all about buying and spending all the money they got, but saving even a little is also a smart step for them so they will realize the value of money not just today but most especially in the future.

Let's just assume that it is both. There's no problem for someone who doesn't have a kid and tries to suggest something like this and the same goes for the actual parents that haven't heard of this idea. Let's be open-minded with ideas that can enrich someone's ideas and knowledge towards something like this topic for financial literacy. Based on this study: Financial Literacy Around the World "33% percent are financially literate and this only covers for the adults only and if converted into count, the study says that it's around 3.5 billion people globally that does lack of financial understanding." So, if someone tries to give a good idea for others to have more understanding towards financial matters, be open to it and embrace the potential learnings that can be extracted from it whether it's theoretical or in actuality.

If you already have children, I am sure you will know how to educate children properly and also give them the things they need to learn at the appropriate age level. Because children who are still young around 7 years old or have just entered elementary school do not need to think about finances and also about financial learning because they will definitely have their own time and period in caring about it later. So I also agree more with your opinion on this one because children who are just growing up should still be allowed to play and get to know their own world slowly without any coercion or restraint from their own parents

Because I once found a child who committed suicide because he was too restrained by his parents to learn something he didn't like so that the child was unable to contain the stress in his mind which caused a disaster for the child. So as parents, of course we all have to know about the time or period for the child to accept something heavier, both in learning and in playing and in introducing him to responsibility in life. Because not everything has to be taught early on if our children still have more time to understand other important things in the future.

Many parents are haunted by the current economic situation and the difficulty of finding money to survive these days, so they think forcing their children to understand finances as early as possible will be good for them. But that's not how we educate a wealthy generation or how we make a difference. Who can guarantee that if we educate our children about finance as early as possible, they will become rich or do we just follow our feelings?

Also, I wonder if OP and the people supporting this idea have children and have talked to them, and listened to them say what they want? Or is this just the thinking of people who don't have children, don't have experience and don't even know how to start raising children? We should not try to impose our thoughts on anyone, especially our children.

You can't blame our parents just because we don't make money or don't know how to make a lot of money. You must know that our parents' generation is very needy and miserable, although aware of the importance of education and financial knowledge, maintaining each meal and survival is more important at that time. Furthermore, even when you are grown up and independent, you can still improve your financial knowledge if you really want to because it is never too late to learn.

We are being left behind compared to others due to our own fault, don't try to blame those who were born and sacrificed their lives to raise us.

Having access to early financial education does not guarantee that you will have a better future if you do not want to learn, are not passionate about it, or are not properly educated. All knowledge needs to be taught at the right age to maximize effectiveness, so we need to teach children fully and properly instead of teaching them early and forcing them.

Teaching about Bitcoin to their children might be a bad idea in their own opinion and that's okay if that's what they think. Because not all parents are open to teaching them about it.

But as for teaching the kids while they're young about financial literacy and sending them to boot camps, they'll have fun for sure. Because it's not limited knowledge that they'll get there.

IMO, aside from financial literacy, they'd also learn how to socialize and network with other people which is a valuable skill to have.

Agree with you. Sometimes parents' fear will bring disaster to children, I mean they will experience stress if they are forced too much with our will. Age 7 is still too early to be taught about financial literacy, they still have their own world with their own pleasures, especially if they are still in grade 1.

It is not wrong to teach financial literacy to children from an early age, but start from small things, do not immediately put them in a financial literacy training place because that is too excessive which will later have a negative impact on the child's growth and development because their parents are too obsessed with making their children smart in managing finances which makes them stressed.

Actually with the nature in which the economy of the world is falling really requires us to set a good financial path for our children by making informed financial decisions for them at a very tender age but the age range of 7 years you made mention of is rather too early for a child to know about how to make money because I have seen children that their parents exposed to business ideas at a very tender age and this children where unable to further their education because they felt it was a waste of time going to the school and they grew up with the mentality that everything about life is all about money and they ignored seeking for educational exposure and became full time business people.

There is need for a child to graduate through school before being exposed on how to make money of their own because at that very tender age, whichever thing you expose to them they will take it up till they are grown and even though they can earn while studying but in most cases it becomes a distraction to them in their academic pursuit, Everything about life shouldn't be about making money but the only thing I can say is that parents should learn how to save money for their children, possibly open a kiddies account for them so that when they have grown to a certain age where they can take full responsibility of their actions and inactions then they can be exposed on the best financial decisions they can take with the amount already saved for them it will go a long way in the success building of that child.