Financial education for children is difficult to treat today, the ego of many parents hinders the potential for children to achieve more than what their parents have achieved Today, parents make lots of mistakes with children regarding the use of money. As a result, there are many young people with financial problems and debts at an early age that prevents them from achieving the objectives set.
Consumerism is a problem that encompasses all socio-cultural levels in the world, especially because of the advertising that invades us 24 hours 365 days a year. This suggests that advertising makes us spend our money on things that we do not really need.
1. Speaking well of money Vs speaking ill of money :
If your language as a parent teaches kids that money can help us to do good things and help others, your child will grow up with the idea of having money and being beneficial. Speaking ill of the rich, cursing their existence and making a number of negative statements alluding to them, just makes the child to believe in your subconscious misconception that having money is bad or if you have money, you are a bad person.
If from their tender age children begin to create mental images and have expectations of the thousands of things you can do to help others taking the money, you can guess the child’s future now.
2. Being role model Vs having no plan
The child can model what their parents are. If they see how parents are successful people, work and are smart when talking about money, this will be a behavior that the child can also be modeled to display.
If you have financial problems all year (or part thereof) or each time the child wants a toy your answer is “no money”, the child will grow with the mentality of scarcity and understand that there is no remedy for that. What we do and what we say about money and facing children, will be largely the way they act in the future with respect to the subject
3. Teaching Good habits Vs bad habits
Work, save, invest and multiply money are habits children learn from their parents once they see you do it regularly. Teach them to have a piggy bank, for things to work to earn, to have their own savings account to buy his favorite toy, etc. Habits such as wasting money, live with barely enough, complain daily or works all day do not leave the best education for their children. They understand that money grows on trees and can splurge without consideration.
The advantages of teaching financial education for children are immense. They start handling money at an early age and become more prosperous. Educating our children financially is vital to create steps to forming good financial habits. It helps them with money management, programming and creating a financial culture in each, creating a different consciousness and thus avoiding many obstacles in their lives with money management.