Date: Sunday, November 15th 2015
Participants (from 9 countries):
Iran: Noorola| Argentina: Johny | USA: Rick |Turkey: Butterfly| Tunisia: Marwa | India: Reneesh | Morocco: Imad | Sudan: Seif | UK: Marissa
Here’s why is important to learn about money at an early age
Parents can prepare their children to build financial skills, habits, and attitudes for a financially prosper future, and this is important to do at an early age. It might be surprising for you to know that children as young as five are ready to learn about saving and spending. If you take advantage of this fact, you can build the foundation to allow them to manage their finances as adults. For instance, a piggy bank or savings account can give them a practical experience to create a money-saving mindset.
Your child may even acquire a taste for financial planning that could last well into adulthood. In addition, giving allowance can guide your child to build habits. This is an ineffective way to build a child’s financial skills. To couple this with a parental oversight of to how the money is spent, can be very effective.
Youngsters learn from experiences: we all make mistakes; however, if parents listen and provide guidance on how to make good choices when it comes to savings and spending, children can build financial skills in a safe manner.
When we give children opportunities to make their own decisions, they learn more and better. This is not only true financially but in all aspects of their lives. The benefits are greater if we give them feedback and advices during this process.
For more ideas on teaching your kids or yourself about money, we are also working to help communities by providing mentorship on financial education. If this interests you, feel free to share your ideas or interests to firstname.lastname@example.org
Having said that, we encourage you to listen to what our members have to say about this topic, below are the links to the recorded discussion.
For people who did not join the live discussion or want to provide ideas, feedback or comments, feel free to contribute in the comment blanks below.