What Do You Think About Financial Education For Children?

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Financial education is something of the utmost importance these days and people with the most shallow thoughts can't deny it (unless you are a rich person, which I believe is not the case ).

Adults usually have a certain difficulty in this matter and end up getting into debt easily... But, if that was avoided with financial education for children? What would say about that?

 

Financial education is one thing that any wise man does'nt joke with. Whether you are a rich man or a poor man, the level of your children's financial education is what will determine whether or not you financial legacies are improved upon or destroyed.
In our world of ever incresing sophistication in business world/ finances we cant not to get our children financially educated.

 

Financial education is one thing that any wise man does'nt joke with. Whether you are a rich man or a poor man, the level of your children's financial education is what will determine whether or not your financial legacies are improved upon or destroyed.
In our world of ever increasing sophistication in business/ finances, we cant afford not to get our children financially educated.

 

Lack of financial education is part of the worlds problem today!
I try & teach my smalls all the time. Example. My oldest can now cut the lawn. I pay him $10 for his time & put $10 in money box for fuel & mower maintenance. He has to get the fuel, oil & blades out of that box.. If he wastes fuel & dulls the blades it costs him more $$.. at the end of the cutting season he gets whatever remains in that box. He has to manage the job effectively to make the most $$

 

When I was a kid, I've learned saving already by having a coin bank when my parents inspire me and my older brother to save. It feels good to remember how my brother and I would compare the amount after it was heavy and full. It may not make sense then but that small act of my parents make sense now that we are grown-up.

 

My mother was a bank manager so I grew up learning about managing finances from her via osmosis. However it's a topic that's sorely needed in our education systems. It's more than just saving up. It's a complex learning system of budgeting, time management, comparison shopping, value per dollar per hour for things like entertainment, value per dollar per item, how to tip %, earning power and spending power, practice how to do personal taxes and manage a bank account and learn how to mentally add up item costs in the cart prior to purchasing. The issue with our financial education is that we tend to be too optimistic about wanting children to be ignorant on how hard life is. However that can't keep up especially when they become teenagers getting ready to go out into the real world dealing with student loans, rent, food, transportation costs, ect.

 

I think financial education (whether for children, adults or elder) is something of utmost importance and usefulness. People need to realize this once and for all.

 

I kind agree with you. If many problems (not just problems related to the finances) were treated since childhood, in adulthood they probably wouldn't be something big and / or complicated.

 

Those simple gestures are the ones that make all the difference at the end of the process. It's how you said it: as a child we don't realize the importance of them, we only recognize - and come to value them - only in adult life.

 

How to handle $$, how to save $$, and very important -- How to invest wisely!

 

It really baffles me that most parents dont take this serious yet, they want a sustainable future for their children. I wonder how this is possible when the children that are supposed to be the successors are not fully equipped with the right knowledge.
I believe that the main reason we perish is lack of knowledge and not necessarily as a result of external forces.

 

Certainly, these three paths are paths of extreme relevance. But unfortunately they are not Always something easy to be taught.

 

I also can't understand this (it's something so clear ), but I think it won't be long before they realize how important this is for the children.

 

Yes I am with you on this one. What if a bill is passed to include in the curriculum? Or an NGO takes it up to help build a better future for our kids. Bad idea?

 

I don't think is a bad one... It looks nice. However, I don't know if it would be such a practical thing to do.

 

Financial Ed SHOULD start at home. Earned allowance from chores & such. Show them they can buy after they earn. Having to save for a more pricey toy or game. Then maybe clothes as they get a fashion sense.
Unfortunately parents can only teach what they know.. And we all know how dumb much of the population have become. Even many with expensive degrees!

 

I honestly think financial literacy should be taught in school. Not everyone has wise and enlightened parents so learning it in school is the next best thing. Maybe it could be part of a math curriculum and be taught every year depending on the age of the child.

 

This is an area, one of many actually, in which I think our educational system is falling down. Being able to navigate the complex world of finance is must for all people of all walks of life. Don't give them a solid foundation and chaos is going to be the result. The housing bubble was a complex situation involving many different factors (governmental, private sector, individuals, et al.), but at least part of it was due to outright idiocy. We can't allow that kind of thing to happen again.