Man’s journey towards success begins at the age of accountability and continues throughout the day to day for the rest of his life. Once a child is smart enough to get any money given to him as he is ‘my money’; that child is ready for Financial Literacy lessons.
Many countries are experiencing economic collapse today. It could have been at the very least if not completely removed. How can the current economic crisis be avoided? Answer: if today’s leaders, like school children in the past, were taught the essential principles of wealth creation and livelihood. I am saddened by how countries with so much human endowment and natural resources are doing this badly.
The same phenomenon applies to children of wealthy parents, at least most of them. Studies have shown that a high percentage (up to 90%) of the children of wealthy people do not end up rich in life. At best, they only earn enough to earn a living. This is because they never learn how to make, save and use money properly. They are also not taught or disciplined how to run the necessary wealth creation laws.
Unfortunately, financial literacy is not taught in most schools; it’s not really part of the school curriculum. As parents, whether rich or poor, we are all fervently demanding better standards of living than ever before. Parents struggle to ensure that their children do not live the lives of hardship and poverty they have gone through themselves.
Yes, this task is to teach the concept of money management to young children but they need to know the basic skills about money and they need to know it NOW.
There are people who believe that kids know nothing in business about money; but the fact is that habits are formed from a very young age. These are the habits we teach our children so they can grow up and live. Many adults find it difficult to save today because they are not taught the basics of saving money and using it wisely.
Let us help our children and our future; we will work together to eliminate financial insecurity. We will help build nations that live in peace with each other because everyone is comfortable. Starting as a child, your child, we can rotate the economy of our countries for the best. Yes, We Can!