Since yesterday I am thinking how to write an answer to this question asked by Galen
Do you feel giving children a grounding in financial matters is the parents' or a schools' responsibility and why? If you do it for your children how have you done so?
This is a tricky subject and I think it would be great if every school system in the world included financial education as a compulsory subject from the early years. This would be wonderful because then our parents would have learned from their parents and taught us who would also teach our children. If financial education were taught like writing and reading, its learning would be guaranteed, but unfortunately this is not the case and I don't think it ever will be.
MONEY IS POWER and to teach how to manage it optimally would be to share with many people the power that is in the hands of few. It depends on the political will to make financial education part of school curricula and since it is far from being a reality, it is up to the parents to assume the teachings in financial matters.
In my case, I never had an adequate education on the subject, and I believe that few in our country do. We have had to acquire it in our own way. The reality that each one of us lives in shapes and limits the scope of our learning, but at the end of the road no matter the obstacles. Money is the same for everyone and learning how it works and behaves will give us the same advantages and the possibility of adapting to our realities. Whether we are successful or not depends on our ability to put into practice all the knowledge we have acquired.
What we do have to see as an obligation is to try to transmit to our descendants as much knowledge as possible. A long time ago I stopped working in an office from 8 AM to 5 PM, I did it early, but I have not achieved much, I had a lot of desire but few tools. I'm still learning, it's never too late, I think I just recently became really financially conscious. I have taught my daughter, along with my husband, the best we have been able to in financial matters. Our advice to her has been as follows:
The first thing is to better yourself, knowledge opens many doors. The money earned must be invested so that it pays dividends. You cannot accumulate debts, nor spend on unnecessary things, always have an emergency fund (you have to be prepared for any contingency) and above all try to do things as best as possible, without causing damage to third parties and always abide by the law. Strive to achieve financial independence as early as possible and on the way to that goal help others to do so as well.
I don't think I am an expert on these issues, but I hope my advice will be of some use to my daughter in this increasingly turbulent and competitive world.
A profitable week to all of you.
All rights reserved on the text and images, which are of my authorship unless otherwise indicated. I use DeepL for translation because my English is very bad 🤭.
Knowledge is of no worth unless it is applied.
The advice that you have been giving your daughter is all worthwhile. You are teaching her merely how to optimize her resources but also making her understand how she should be morally and athically correct in her dealings. That's very important 👏.
Thank you for reading and commenting on my post. I really hope that the education I am offering my daughter will help her to be a good and successful person.
Thanks for the support.
It is so important today to have this kind of education and knowledge is fundamental. And schools should have it if parents don't know about it. Thank you very much!💗
We have no choice but to learn in order to transmit to our children everything we can because I doubt very much that schools will ever teach about financial matters, at least in Cuba I don't think it will happen. Un abrazo.
To learn in order to be able to transmit, there is no other way, that's how it is.
Our children, need to be taught, so they will get to know how to manage the little money they have.
Everything we can teach our children that helps them to become better and better is important.
Everything in life requires a first step... 😉
Yes, and thank you for helping me take some important steps in this conscious learning.
😇 You're welcome.
I did not receive guidance on the subject of money either at home or at school. And I think it is something fundamental. It's good that you can give your daughter good advice on financial matters, it will be very useful for her.
Thank you for your comment. In my case I did not receive an education in financial matters either, I have had to learn it in life. Luckily I learned something in time to be able to advise my daughter and I hope she does better in those matters. Regards