WHY YOU SHOULD TEACH YOUR CHILDREN ABOUT FINANCES
Growing up in a Nigerian household meant one thing; money wasn’t a subject of discussion and as a child, I barely knew what money was.
Of course, I had the luxury of all my needs being catered for but I didn’t know how it was being done or how much debt my mother had run into just to be able to afford it which made me grow up in a bubble that life was waiting to burst.
The process of getting into university was one that opened my eyes, I was privileged to get into a private university through a scholarship but that meant I was in school with a lot of “rich kids” that could basically afford a lot while I would starve most days.
At that point, It dawned on me how important money was and how little I had of it and I often wondered if things would have been easier if I had prior knowledge of money and finances.
SO SHOULD YOU TEACH YOUR CHILDREN ABOUT FINANCE?
Well, I believe that every child at a particular age should be taught about money to an extent, of course, you wouldn’t want to burden them by telling them certain information but an overall view of finance could be essential.
This is important because it will teach them to have a positive relationship with money as they grow and they will have an understanding of the basic concepts of money.
AT WHAT AGE SHOULD YOU START TEACHING THEM?
For me, the moment my children can understand simple terms I will begin teaching them about certain financial terms, and from there I will start training them to save which is important because a lot of adults barely have the self-control to save and I know that it is very essential.
I will also want to create a reward system which I saw on TikTok and it caught my eyes and this would be to teach them the process of earning and working.
Of course, at this point, it is easy to make a child “money-focused” but I will try to avert that as much as I can.
IN CONCLUSION
You might be thinking, “why not let a child be a child” but I believe that certain values should be installed when children are younger and in the times we live in, knowing about finance is an essential skill that everyone needs to know, and the saying “the younger, the better” is something I stand by.
Now, just because I plan to teach my children about finance doesn’t mean you have to, I know that everyone has the way they will want to raise their kids so to each their own.
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I wish I could upvote this 1000%. You are so incredibly right. Our education curriculum lacks the most essential lessons children should learn, so it’s up to moms and dads. Excellent sentiments. I wish I was a curator! 💕❤️💕❤️💕❤️💕❤️❤️
Thank you so much, I am glad you liked it.
I think finance is truly important to teach our kids because of how society is heading right now.
It's true that everyone has their way of raising their children, but it's still very important that you as a parent instills all they need to know about finance in them before they become adult so they can be Independent.
Thanks for sharing this, you did so well with this.
Thank you so much for reading, it is truly necessary to have financial knowledge.
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Thank you.
you're welcome
great article
Thank you so much.
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You're right, most of us as adults struggle with managing our finances because we weren't groomed on how to..thi is a pointer for me, and I'll teach my son this
It is very important to teach your child the value of money because whatever doesn't have value will be misused.
I do not have children, but my parents taught us about money from a very early age, and it has benefited us a lifetime. I agree with your article teach your children about money as early as possible.
I wish my parents did, I would have avoided a whole lot of things and bad decisions I made.