Teach children about the Financial problems of education
Financial education is an issue that unfortunately is not in the most traditional education curricula. If parents wish to prepare their children in the area of finance, have to do it without the help of educational institutions.
Many parents are not even aware of this great gap in the education of their children and trust they will learn to manage money on their own as adults. Unfortunately statistics show that this does not happen automatically, as we would assume. If anyone cares to teach, our children will be illiterate in the financial area.
Today the state is alarming youth indebtedness. According to a survey INJUV (National Institute of Youth), more than half of young Chileans between 15 and 29 have debt and 57% of them are behind on payments. Not a very encouraging figure when it comes to financial education. The need to prepare our youth to successfully manage money as adults, is in sight.
They must learn to live within a budget, have the habit of saving and should have basic knowledge of investment to enable them to leverage its resources.However, even parents who are aware of this great need in the education of their children, they face another obstacle: the lack of interest of their children for money issues.
What If Your Kids are not interested in Finance?
Many parents write to me and I am asked this question. Are parents who have recognized the importance of developing money management skills in their children, but, in practice, do not know how. Finances are an issue that seems to be unattractive for our children. Outside of spending money in their pleasures, does not seem to deserve greater time commitment.
Besides the money, for many young idealists, appears to be involved in a mysterious cloud of evil. They think that money is the root of all evil. They see a world run by corrupt and greedy adults attribute this to the evil power of money.
It is at this point where I should start a solid financial education. Parents can place a good foundation in the financial education of their children if they help to relate well with him.
The Bible clearly states that the LOVE of money is the root of all the evils.
(1. Timothy 6:10)
You must teach your children that money is a tool that can be used for good or ill. They should also understand that money is merely a necessary evil. It is a resource that can provide much happiness by allowing economic well-being given the freedom to spend more time with his family, pursuing what they love and do good.
About twelve years, most children begin a transition to abstract thinking, identifying themselves and finding their own truths.
In other words, stop being children.
Childhood is a stage in which parents should use to create the necessary foundation for their children succeed in life. The child is 100% receptive to the teachings of their parents and adopted the principles of life you are taught without elocutionists.
At this stage parents can encourage their children’s financial education in several ways:
1. Being a Good Model
Children learn a lot by watching what we do. Not enough to teach the theory of good resource management. Parents can teach them about work ethic, thrift, discipline and rigor to share their lives with their children.
As shown life situations that require decision making in the financial field, parents can share their experiences with them without making an effort to artificially produce an instance to teach. So I will impart knowledge and skills needed to solve real-life situations.
2. Financial Together Play Games
Children learn by playing. It’s the best way to teach about any subject, including finances. There are several high quality educational games like “Monopoly” and “Cash flow for Kids”. At about 8 years and can play “Cash flow 101″, which is an excellent accounting course disguised game.
3. Encourage them to Save
Children, like adults, have insatiable desires. If you do not learn to save at an early age, will become adults who can not discipline when spending their money and are easy prey for financial institutions and credit cards.
Teach your children to always save a portion of their money. Acquire a valuable habit that will benefit them throughout their lives.
4. Encourage them to have their own small business
Children are innate entrepreneurs. His creativity has no limits and love to do something that is useful to others. Nothing better to install a small business, as the classic lemonade stand, selling chocolates, biscuits, jams, pets, etc..
Learn important skills of selling, marketing and accounting.
5. Teach to Be Generous
One of the biggest benefits of the money is that we can help others. It is also the best way to have a healthy relationship with money and protect the hearts of our children of greed and avarice.
It’s not for nothing that Jesus said: “It is more blessed to give than to receive.” Teach your children to be aware of the needs of other people living around you. This will realize the tremendous power that money gives them to bring joy to other lives.
