Teen's Financial Literacy
Financial intelligence says by Robert Kiyosaki is not about how much money we can make: it's more about how much we can save and how hard that money works for us.
Why do some people who do not attend university have been successfully? It is because they know how to manage their finances well. Many who made lots of money have become bankrupt because of bad money habits.
We as Asian parents think that talking about money is a taboo subject and will 'pollute' their children's innocent minds. We make our choice and face the consequences.
Asian parents always think that they want to provide and protect their children, but the day will come when they must provide for themselves. When our children grow up they must know how to live within their mean, grow their money and extend help to those in need. This is an essential skill of life and good financial management needs to be taught.
Can all this knowledge come in a day? No it doesn't. Lifetime habits need to be inculcated. Who is then the best teacher to teach children about money?
The answer is of course we as PARENTS.
If you think that financial education should be left to schools then perhaps we as parents should think again about this topic!
WHY? The process of becoming financial literate is actually a lifelong process that starts before our children enter schools. It comes in proportion to experiences gained outside a school environment and continues well after graduation day into adulthood and even into retirement.
Schools and financial seminars only help to supplement and reinforce what has been taught at home. We as parents are the ONLY people in a position to provide consistency to the learning curve for our children.
Today, children have access to more resources and more things to buy with those resources. The advertisements proclaiming the coolest toy in town and brand power is exerted on young minds. Not forgetting peer pressure. Both this combination of forces are going to distort a young person's sense of values.
We as parents forget to guide our children well in the ability to make money as we focus on our daily activities to send our children to numerous tuition class so that they can enter good university to get a good degree and of course a good job.
The important lesson as parents we forget is the need to focus on managing the money earned that is how to save, preserve and grow it wisely.
Do you realize that many people who are wealthy today are not necessary people with large incomes or inheritance but those who save and invest well and spend wisely?
Most youngsters today are ill-prepared for the financial responsibilities awaiting them in adulthood. Now's the time to teach them lessons you only wish you had known at their age. How about you? Tell what do you think?
Related Tags: teens money habit, financial literacy
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