MOST IMPORTANT TRAIT A CHILD MUST LEARN
Kavita Agarwal
Independent Education Consultant | Karmaveer Puraskar Awardee | President Childcare Council,WICCI/Rajeev Gandhi Icon Award |Bengal Pride Award/G100 Country Chair Childcare/Board Member CAFE / TOC member / ECA APER
How important is financial literacy for children ?
Raising a child fulfilling all demands leaves them unaware of how much of effort and hard work has gone behind earning that money . Many a times parents give pocket money to children without checking where the money is spent , and how much do they still have.Having a look at this is very important. Children who are taught to save a percentage of their pocket money grow up to bucked good portfolios.Saving gives children a sense of security - they can save for later to buy something of their choice , also they become independent for future.It helps them develop a habit for emergencies.
When I share my personal experience out of the pocket money we give our children , we ask them to calculate and save 10 %, donate 10% and use rest if needed . They have been smart enough to save more to get something better when needed. Also we make sure what they are purchasing is worth and not just a fancy thing each time.Donating has inculcated a sense of social service in our kids. They have thereby developed a very important skill - empathy and love for others. No wonder with their pocket money they buy stuff for their grand parents , uncles , aunts and cousins .
Its just a small effort .. to sit and guide them . But the result is remarkable !!!
What do you think about this ?
This post is simply brilliant and quite informative. I appreciate you sharing such important information through your contents to give people, especially the parents community, free advice Kavita Agarwal! It's really important for children to teach them about financial goals and management at an early age. By the way, would you be interested in teaching children to learn about financial literacy and investment, please check out the GravyStack app where kids can learn the basics of banking and investing by playing games and completing fun challenges. Because we believe it's necessary for kids to grow up being financially responsible and savvy. Do check us out and let us know your thoughts! It's great connecting with you!
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2ythis is a very grounded approach to raising awareness of money matters among kids.