The economy is important for a family! - page 4.

teosanru

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Quote from: AnisahSiti on March 13, 2022, 01:11:54 PM

I am married and have 1 daughter.

As we know, the economy is very important for families, of course, to support daily life and plan for the future. In addition to working we also need a savings or investment and this is the responsibility of parents. But if something happens that we don't want, such as death. By leaving a little treasure to our children, do we need to provide crypto investment education to our children? is it necessary?

As a parent I want to give my best.

I want to hear your opinion guys.

Obviously you should give crypto investment education to your children but the reason behind that isn't because something happens or you leave a little treasure, it's because your children should be self sufficient enough to make their own investment decisions in coming future and this knowledge that you'll impart in them will help them to make good investment decisions in the future and maybe start investing at an early age which could help them accumulate more until they become young.

darewaller

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Quote from: AicecreaME on March 19, 2022, 09:14:03 AM

Every child deserves to enjoy their childhood. We should let them take over their youth, but of course, not to the expense that they could ruin their future. I know that most, if not all, parents want the best for their children. But parents should also consider the feelings, emotions, and their children's development over the crucial years of their growth. Because these stages are of importance for the kid's overall shape enhancement, behavioral, perspective, and critical thinking aspects speaking.

If you really want to secure your children's future, you can start saving in different investments that your trust. If you want it to be in crypto, start as early as you can and let it grow over time. You can introduce them with it the moment they got in the right and perfect age to understand such things. Don't force nor impose it to them. Make them aware about the investment and /or educational fund that you made for them and you can teach them about it for their better understanding and handling when they got to their curious and explorative stage.

This doesn't mean that you can't teach a child about finances. I mean we teach them mathematics, we teach them history, languages, geography, geometrics, science and many other stuffs at school. If we can teach all of those, then why not teach them about the future benefits of saving and investing? It is clear to anyone who has lived the past 20 years working to know that if you are earning a salary, you will not get rich with it.

I have nearly nothing aside, I saved up some crypto thankfully but that’s it and it is not even that big. So, if I were to lose my job tomorrow, I would be in poverty by this summer. Kids needs to know how to save 10% of their income every month, and put it on a safe investment.

Tony116

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Quote from: Finestream on March 17, 2022, 02:37:54 PM

Quote from: Tony116 on March 13, 2022, 02:35:33 PM

I already have kids, but I haven't thought about teaching them about crypto and investments. My child is going to preschool, I want them to have a beautiful childhood like a fairy tale and according to their wishes.
Crypto will definitely be used a lot in the future but I think we shouldn't rush them because they are big and know they will have their own choices and we are the only ones behind.

If we can lead them at an early age, might as well their choices will not be different from ours. So teaching them about crypto investments will not ruin totally their beautiful childhood days, instead it will open them to what's waiting for them ahead. However, if you think your kids will not be interested in crypto, then leave them their share in fiat. The choices of our children still matter the most because its where they can put their passion in it.

In my mind, I still want them to be like me in the future, to be a crypto investor even I intend for my children to become a blockchain programmer. All my wishes.

Some people have advised me that I can use crypto posters to teach him, both keep him happy and help him access crypto without too much pressure. I found this method quite useful, I will try it next time after my child is used to the classroom environment. I will apply at playtime with him.

Uang_kartal

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maybe the post makers have felt solid from the answers of all friends here,? I agree, that children are a period of imagination and play and even learning according to their phase (of their age) it is too hard to jump and avoid reality, either education or a direction to think beyond his capacity and motor skills, for any financial plan related to money.
indeed money makes people live and die, whether they wake up or go to sleep again, people need a unit of exchange, to be sufficient, but at an early age, in my opinion, you still have to live with it, even though this is only an anticipation plan, I understand your feelings.

AicecreaME

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Quote from: Tony116 on March 13, 2022, 02:35:33 PM

I already have kids, but I haven't thought about teaching them about crypto and investments. My child is going to preschool, I want them to have a beautiful childhood like a fairy tale and according to their wishes.
Crypto will definitely be used a lot in the future but I think we shouldn't rush them because they are big and know they will have their own choices and we are the only ones behind.

This has a point. Every child deserves to enjoy their childhood. We should let them take over their youth, but of course, not to the expense that they could ruin their future. I know that most, if not all, parents want the best for their children. But parents should also consider the feelings, emotions, and their children's development over the crucial years of their growth. Because these stages are of importance for the kid's overall shape enhancement, behavioral, perspective, and critical thinking aspects speaking.

If you really want to secure your children's future, you can start saving in different investments that your trust. If you want it to be in crypto, start as early as you can and let it grow over time. You can introduce them with it the moment they got in the right and perfect age to understand such things. Don't force nor impose it to them. Make them aware about the investment and /or educational fund that you made for them and you can teach them about it for their better understanding and handling when they got to their curious and explorative stage.

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Quote from: ReiMomo on March 18, 2022, 12:59:32 PM

Quote from: AnisahSiti on March 13, 2022, 01:11:54 PM

I am married and have 1 daughter.

As we know, the economy is very important for families, of course, to support daily life and plan for the future. In addition to working we also need a savings or investment and this is the responsibility of parents. But if something happens that we don't want, such as death. By leaving a little treasure to our children, do we need to provide crypto investment education to our children? is it necessary?

As a parent I want to give my best.

I want to hear your opinion guys.

As you said yes its part of our responsibility to educate our children on best things, it might be on savings, investment and earnings. Yes, since you are much aware and confident enough in crypto and you find it to be a worthy platform which will help children be stable financially, then yes, teach them how investing on crypto will provide solution to his financial needs. Good decision though.

I think its a good idea to teach your children about crypto .I am supporting you to do that but one thing is more important their age .I think if they are ready to get this kind of education you can do this .We could not force our children to do that though we have many responsibility on our family .Investment is a plan where we really wanna put our capital to make it double so it is a always risk here if you are really not able to get a return from here .So you need to get the situation clearly from your own .After that you will decide how you will do this things .

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Quote from: tbterryboy on March 17, 2022, 03:26:47 PM

Quote from: xSkylarx on March 16, 2022, 07:41:32 AM

To summarize, we could say that they should be financially literate because doing so will increase their chances of being successful. We should guide them through the process of investing, as you can see now that technology is evolving and we must adapt to it in order to be successful in our endeavors. I believe that kids these days are easy to teach when it comes to this, and that we should simply guide them down the correct path because they do not have any previous experience in this area, allowing them to be successful.

We should be careful about our teaching though. I mean my father tried the same, tried to teach me value of money at a very early age when I was not even a teenager yet, just a child, and I learned it and I am thankful for it to him. However, this resulted with me putting money at the center of my life and react to it like the most important thing ever. I sometimes did not even care enough about my health, and still worked hard to earn.

Lately, life happened and it gave me a good lesson that says health is more important than money, and I took care of that problem before I went to back. Now I am working maybe more than ever, but I took that break and realized my health is very important. If that did not happen, I would be working from early morning until late night and probably die at early age (still could happen of course, nobody knows).

Must say life now, without money most of us will die, money is the determining factor in our life. But we should also remember one thing we are money makers, so if we don't have health then we won't make money. Health is the first thing we need to pay attention to, because with health we can do many things. Health and loved ones are two things we must not forget just for the sake of money, when a lot of money cannot be bought back.

dezoel

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If you could find someone else that will be great at this, that would be a lot better for sure. I mean if you keep doing that because you are going to end up with financial education of your child yourself, then how are you so certain that you are teaching all the right things. You need someone who is both expert at finances, but also experts at teaching kids as well.

The number of people who are expert in both do not exist in abundance. People who are expert in finances work in a wall street type of way, they are trading all day making money and do not have time to teach your kids. And teachers who work with kids do not have financial expertise most of the time.

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Quote from: Dave1 on March 18, 2022, 12:30:43 AM

Quote from: AnisahSiti on March 18, 2022, 12:20:26 AM

Quote from: merchantofzeny on March 16, 2022, 11:28:55 AM

Yes. Even if they do not go into trading and the likes, it's good to teach them about alternatives to fiat. For example, they can decide to save a portion of their money in crypto instead of banks.

Yes, if trading I will not give directions there. I will only provide an understanding of crypto first which I think will take time for my daughter to fully understand, and what blockchain is. Then regarding the factors that cause crypto prices, especially Bitcoin to continue to rise and other positive things. After that it's about how to transact, how to store in the wallet, which he must understand well, because if we can't give a good understanding here, then we can lose money because of private key problems or it could be hacking. After this I will come to crypto investing, which can later branch out into trading, but I'd direct her to be holder first.

There is some technicalities that involves when you join crypto, specially bitcoin. It's not just trading per se, which in itself alone will take a lot of your time to understand it. But there is one important factor as well, that is how to protect your crypto, like wallets to used (custodial vs non-custodial). So I'm not really sure how your daughter will take this information and process it at such as young age.

It takes time to explain about wallets, of course I'm not in a rush either. I have taught my wife which later she can play a role in helping explain to our daughter later. For now I will explain the basics first and then about basic economics, with the aim of forming the foundation for economics and finance.

Sir Legend

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Quote from: AnisahSiti on March 13, 2022, 01:11:54 PM

I am married and have 1 daughter.

As we know, the economy is very important for families, of course, to support daily life and plan for the future. In addition to working we also need a savings or investment and this is the responsibility of parents. But if something happens that we don't want, such as death. By leaving a little treasure to our children, do we need to provide crypto investment education to our children? is it necessary?

As a parent I want to give my best.

I want to hear your opinion guys.

Knowledge and economic education are very important for everyone including our children, teach him small things such as planting a tree and give information if the tree can bear fruit one day and have good benefits in the future, crypto education is certainly taught if the child understands about money which usually starts from the age of 10, and starting to save money and switch to crypto in children is something that will train them to get used to investing.

LUCKMCFLY

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Quote from: rat03gopoh on March 15, 2022, 12:54:03 PM

Sorry in advance, how can you ensure that you're gonna teach your childs crypto investing lessons properly at least pointing them to the basics?
If this lesson is considered important in the future and is a challenge, they'll learn it all without your direction. The thing you need to remember, crypto investment isn't guaranteed to be profitable. There are several areas in crypto that can be studied and guaranteed to make more than just an investment, such as coding, marketing etc.

I think that the correct way to teach is not directly with the crypto, but first to understand the traditional economy from its beginnings, and this is what the books are for, first of all I would recommend that you read the book that is somewhat old but that is essential that can learn it, and it's "A Random Walk Down Wall Street", here you would get an idea of world economic history, then once you understand these events, you could continue with some books by Jesse Livermore, here to introduce a little bit on how he saw the market, then he would go to Richard Wyckoff to strengthen financial culture and finally, having these book data, he would send him to read one of Warren Buffet so that he understands how an investor thinks, then understanding the crypto economy would be something else simpler.

doomloop

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Quote from: _act_ on March 17, 2022, 01:51:42 AM

Quote from: AnisahSiti on March 13, 2022, 01:11:54 PM

As we know, the economy is very important for families, of course, to support daily life and plan for the future. In addition to working we also need a savings or investment and this is the responsibility of parents. But if something happens that we don't want, such as death. By leaving a little treasure to our children, do we need to provide crypto investment education to our children? is it necessary?

We are in the world people are getting educated about cryptocurrencies, why not then educate your children about it, especially the shitcoins and scam that can let them lost coins, not even only that but also about the investment education you said, you can educate your children about how trading is and how it has turned some people that are rich before to poor person an how investment can be the best option, to buy the dip and sell high, that patience is very important before someone can be successful.

That is because the cryptos popularity have busted lately and people think that cryptos are a cool thing that can make them money or to make their lives easier in the form of its services. This is the reason why people are eager to learn it, they educate their selves if there's no one around to teach them about cryptos but it was easy to do it now because internet these times are accessible almost anywhere.

What most you said are correct but except maybe to tell them that cryptos can transform someone from poor to rich, I think we should not say this because we are teaching them to become greedy. Lots of people have failed already and become disappointed because of this mindset.

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Quote from: AnisahSiti on March 13, 2022, 01:11:54 PM

I am married and have 1 daughter.

As we know, the economy is very important for families, of course, to support daily life and plan for the future. In addition to working we also need a savings or investment and this is the responsibility of parents. But if something happens that we don't want, such as death. By leaving a little treasure to our children, do we need to provide crypto investment education to our children? is it necessary?

As a parent I want to give my best.

I want to hear your opinion guys.

As you said yes its part of our responsibility to educate our children on best things, it might be on savings, investment and earnings. Yes, since you are much aware and confident enough in crypto and you find it to be a worthy platform which will help children be stable financially, then yes, teach them how investing on crypto will provide solution to his financial needs. Good decision though.

Furious 7

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Quote from: _act_ on March 17, 2022, 01:51:42 AM

Quote from: AnisahSiti on March 13, 2022, 01:11:54 PM

As we know, the economy is very important for families, of course, to support daily life and plan for the future. In addition to working we also need a savings or investment and this is the responsibility of parents. But if something happens that we don't want, such as death. By leaving a little treasure to our children, do we need to provide crypto investment education to our children? is it necessary?

We are in the world people are getting educated about cryptocurrencies, why not then educate your children about it, especially the shitcoins and scam that can let them lost coins, not even only that but also about the investment education you said, you can educate your children about how trading is and how it has turned some people that are rich before to poor person an how investment can be the best option, to buy the dip and sell high, that patience is very important before someone can be successful.

This is dependent on the issue of interest as well. The economy is broad and managing the economy is important but not all of them have to refer to Crypto because even if it can be profitable, especially for the long term, it is possible that what we want to teach is not necessarily what everyone wants. The age of the child is the age of development in my opinion and problems like this must be taught, but not only Crypto but about others as well as about profitable businesses then we will see they are more enthusiastic where they can direct

asus09

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the economy is very important for families, we as heads of families must teach them to learn all the ways that can benefit them in the future, for example we teach them about recognizing the crypto world, and teach them about investing, even though one day we will not leave inheritance of wealth to our children, they will most likely become successful people because we have instilled valuable lessons for them.

darewaller

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Quote from: _act_ on March 17, 2022, 01:51:42 AM

We are in the world people are getting educated about cryptocurrencies, why not then educate your children about it, especially the shitcoins and scam that can let them lost coins, not even only that but also about the investment education you said, you can educate your children about how trading is and how it has turned some people that are rich before to poor person an how investment can be the best option, to buy the dip and sell high, that patience is very important before someone can be successful.

Because it is not going to be that simple. I mean if we have little kids in our hands, then how could we really know what they can really understand. You could teach someone something when they are 5 years old, then at 10 years old they will understand it differently, at 15 they will get it totally differently and at 20 probably a lot more and this keeps going on until they die, it never is same.

Yeah, this is why I highly doubt that kids could be easily thought about crypto. The main logic of finance could be talked about, they will get a bit of it, but not crypto because that one is a bit more complicated than the others and there would be some difference.

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Quote from: tbterryboy on March 17, 2022, 03:26:47 PM

We should be careful about our teaching though. I mean my father tried the same, tried to teach me value of money at a very early age when I was not even a teenager yet, just a child, and I learned it and I am thankful for it to him. However, this resulted with me putting money at the center of my life and react to it like the most important thing ever. I sometimes did not even care enough about my health, and still worked hard to earn.

Lately, life happened and it gave me a good lesson that says health is more important than money, and I took care of that problem before I went to back. Now I am working maybe more than ever, but I took that break and realized my health is very important. If that did not happen, I would be working from early morning until late night and probably die at early age (still could happen of course, nobody knows).

Thank you for your sharing. I will be more careful because after all what is most important is the health and happiness of my daughter. From your experience I have also anticipated from an early age my daughter, where my wife and I tried to teach her to help others, to do other positive things related to social activities. I also always give advice that money or investment is important, but the health of the body and heart is more important than money.

Dave1

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Quote from: AnisahSiti on March 18, 2022, 12:20:26 AM

Quote from: merchantofzeny on March 16, 2022, 11:28:55 AM

Yes. Even if they do not go into trading and the likes, it's good to teach them about alternatives to fiat. For example, they can decide to save a portion of their money in crypto instead of banks.

Yes, if trading I will not give directions there. I will only provide an understanding of crypto first which I think will take time for my daughter to fully understand, and what blockchain is. Then regarding the factors that cause crypto prices, especially Bitcoin to continue to rise and other positive things. After that it's about how to transact, how to store in the wallet, which he must understand well, because if we can't give a good understanding here, then we can lose money because of private key problems or it could be hacking. After this I will come to crypto investing, which can later branch out into trading, but I'd direct her to be holder first.

There is some technicalities that involves when you join crypto, specially bitcoin. It's not just trading per se, which in itself alone will take a lot of your time to understand it. But there is one important factor as well, that is how to protect your crypto, like wallets to used (custodial vs non-custodial). So I'm not really sure how your daughter will take this information and process it at such as young age.

AnisahSiti

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Quote from: merchantofzeny on March 16, 2022, 11:28:55 AM

Yes. Even if they do not go into trading and the likes, it's good to teach them about alternatives to fiat. For example, they can decide to save a portion of their money in crypto instead of banks.

Yes, if trading I will not give directions there. I will only provide an understanding of crypto first which I think will take time for my daughter to fully understand, and what blockchain is. Then regarding the factors that cause crypto prices, especially Bitcoin to continue to rise and other positive things. After that it's about how to transact, how to store in the wallet, which he must understand well, because if we can't give a good understanding here, then we can lose money because of private key problems or it could be hacking. After this I will come to crypto investing, which can later branch out into trading, but I'd direct her to be holder first.

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Quote from: Semar Mesem on March 15, 2022, 10:03:46 AM

Of course, the economy is very important for families, without economic knowledge, we cannot manage money well, and the most important thing in the economy is to always think how we can earn big and reduce expenses, especially during a pandemic like now which makes many businesses die so that we have to be more creative.

Having a sound economic knowledge can really be helpful to families. And one of the ways we can be creative is by having several sources of income and not just relying on one. We need to teach children that they shouldn’t only rely on one thing, it is good to try out other things as well and make sure that they keep growing.

For someone who keeps relying on one source, one thing for sure is that they might end up in a situation whereby they lose whatever source of income that they have and that would lead to them not having anything and eventually going broke. So it is good to build several sources of income and even if anything should happen, you would still have something to rely on and keep on moving and growing.

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