Financial Lessons For Children.
Talking to kids about money is not so convenient for some parents but I prefer that kids are given the right knowledge about money from home before they go out and get feed with the wrong information, in schools there is no much taught about how money should be handled this means it is the full responsibility of parents to teach their kids about money, the right way to go about it is what I will highlight in this video so ride along with me friends and enjoy reading.
Teach children about how important money is.
It is common to find some parents (usually poor ones) to shy away from talking to their kids about money but rich parents on the other hand make their kids understand that the presence of money makes them have available options. We know that money does not necessarily guarantee happiness but I don’t see poverty being a guarantee to happiness either, with money we can enjoy life to the fullest and also help others.
Teach children to differentiate between gathering asset and liabilities.
Assets and liabilities are two different things, children must be taught to gather assets at the early stage of their lives and use the profit from that asset to get liabilities. If they choose to get liabilities with their earnings first, they may not be able to acquire valuable assets later on in life.
Teach children on the importance of managing money.
Children should be taught about making the right choices with their money all time, they need to be trained to only important things and do away with the less important ones. Money management is very crucial and important and children must be trained on how to use it properly and not wastefully.
Engage kids to develop their skills.
It is the duty of a parent to discover and talk to kids about what they are passionate about, then get them engaged in that skill in a way that it will generate returns in the form of money to them. Teaching the kids about so much productivity that will help them become the best in the field they have chosen is very important for us to have a good skill.
Teach kids that they have to make their own money by themselves.
Children needs to be trained that their parents money is clearly different from their own, when kids have the plan that their parents money will always be for them it makes them get extremely lazy but when they are made to understand that they have to build their own life, it makes them become hard working and struggle to get their life in order.
I believe there is nothing wrong in discussing with children about money most especially about how they can manage money because one day when they grow up, they will definitely need that financial education in one point of their life
Hello friend, I really agree with you, financial education should be important in the life of every human being. If our education were different, most people would know what to do with their money and would not waste their wealth, there would be more investments and the quality of life would be better for everyone. Many waste time on things that are not worthwhile, but I believe that today those people will not change.