Man’s path to success begins in the era of accountability and continues daily until the end of life. Once a child is wise enough to demand any money given to him as “my money”; this child is ready for financial literacy lessons.
Currently, there is an economic quagmire in many countries. This could have been greatly minimized if it had not been completely eliminated. How could the current economic hardship have been avoided? Answer: When today’s leaders, as schoolchildren, were taught the basic principles of creating wealth and existence. It saddens me how nations that possess great human and natural resources do so badly.
The same phenomenon applies to the children of wealthy parents, at least most of them. Studies show that a high percentage, reaching 90%) of children of wealthy people, does not turn out to be rich in life. At best, they just earn enough to make a living. This is because they have never learned to earn, save and use money properly. They were not taught or disciplined how to operate the basic laws of wealth creation.
Unfortunately, most schools do not teach financial literacy; it is not at all part of the school curriculum. As parents, rich or poor, we all passionately desire better living standards than ever before for our children. Parents fight to ensure that their offspring do not live a life of hardship and poverty that they themselves have had to endure.
Yes, it is quite difficult to teach young children the concept of money management, but they need to know the basic skills associated with money, and learn it NOW.
There are people who believe that children have nothing to do with money; but the truth is that habits are formed from early childhood. It is these habits that we teach our children that they will grow and live. So many adults today are hard to save because they have never been taught the habit of saving money and using it wisely.
Let’s help our children and our future; let’s tackle the elimination of financial illiteracy. Let us work together to create nations that will live in peace with each other because everyone is comfortable. Starting with one child, your child, we can turn the economies of our countries for the better. YES, we can!