The World and Modern Science

  • Nov 22

    Many parents ask me at what age should begin teaching children about money management. It’s a valid question, but, as often happens, it requires a longer answer than expected. This is because the concerns of parents about their children’s financial education are often based on myths about the money they are wrong and should rethink. Here are the three most common myths: Myth # 1: The finances have always been considered an adult theme False! While there are financial issues that are too complicated for a child, it is important to understand basic principles on handling money as soon as possible. The knowledge to acquire, manage and invest resources wisely is a skill that every human being can and should – learn, as well as learning to write, reading and mathematics. Myth # 2: The children get very materialistic to talk about money at a very early age False! This idea is based on the assumption that money is intrinsically bad.

    If so, why spend eight hours a day trying to get it? Money itself is not bad, it’s just a tool that can be used for good or bad depending on the person who has in his hands. If you want your child to learn to interact properly with the money, it’s a mistake not to talk about it with them. It is advisable to be taught to have a right attitudes towards money from an early age. Myth # 3: Learn everything you need to know in school and / or college False! Neither the school nor in the vast majority of universities are taught to handle the money. These institutions prepare their children for them to earn money, but will not teach you what to do with it once you take into your hands. Just look at the level of debt or financial condition of the adults around us to see that over 95% of people do not know how to manage or invest their money. Most of them are illiterate when it comes to financial matters, regardless of level education they have. To prevent our children to be ignorant and to help them succeed in life, we parents must provide a solid financial education.

    If not us, no one else will! Learn to avoid blows and blows and make an effort to teach today what you can make a difference in the lives of their children in the future. So how can we educate our children on the subject of money without falling asleep from boredom? It’s easy! We must take advantage of an ability that is unique to every child: Play! Any teacher knows that the most effective way to teach any subject a child is through educational games. I recommend “Cashflow for Kids” for children up to eight years and “Cashflow 101” for older children and adults who want to stop being financial illiterate. Careful, because they learn on the fly. Guess who will be the winners of the game?

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