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Introduction
How can you tell the world is shifting fast? Kids are demanding to be taught about money!
It’s true. But that’s to be expected in today’s society. Children are savvier than ever. Teenagers even more so. They are not blind to what is going on around them.
The more they see, the more they realise money is something of a hot potato in the adult world.
It could be for them too if they don’t start paying attention to it NOW, rather than later.
But are they getting the financial education they need?
This article dissects the current state of affairs, and what needs to be done to fix the problem.
Financial Education for Children: Where is It?
That is what 65% of children are asking.
It’s an eye-opening statistic that lays bare the lack of financial education children receive in schools. They are eager to have it. Their interest is clearly there.
But sadly it seems schools are just not living up to their expectations.
The nearer kids get to leaving school, the more they want to get prepared for life “on the outside.” As young people making a living for themselves. Earning a wage. Building a career. Making money for their futures.
Striving for a life free from money worries and stress. Even a life as financially independent young people.
And make no mistake, children/teenagers they are seeing what is going on, especially with cryptocurrencies. Because they know the future is digital.
They know the potential that is possible with careers in digital industries. They are aware of the wealth that can be made if they learn cryptocurrency. Make crypto investments.
So, Why is Financial Education Important for Young People?
Because being able to manage your finances adequately helps you avoid money problems in the future.
The earlier you start to understand money, the better. Understand how it should work for you, rather than you being a slave to it.
The financial education children should receive includes learning about:
- Saving
- Budgeting
- Managing Debt
- Investing
These might sound like common sense skills to learn, and they are. The thing is common sense isn’t something they teach in schools. There’s no subject called “Common Sense”. You don’t get a GCSE in that.
That’s where education comes in. And practise, like anything else children might do with other subjects.
It’s a discipline. And about being disciplined with money.
Treating money as an ally. Look after money, money will look after you.
You can also find great money management tools to help. Such as this Money Management Calculator . It’s very easy to use. It helps you plan your finances which is all part of good, personal money management.
48% of Students Want Personal Finance Teaching in Schools
That’s according to a recent GoStudent report (The GoStudent Future of Education Report 2023).
Again, it is a clear indication that school students know what they need for life outside the education system. This is in line with a desire for more teaching on AI and video game programming.
They are clued-up to the way the world and society is going. It’s the responsibility of the educators everywhere to provide the learning the children badly need.
Investing in Financial Education is The Way to Go
People all over the world are starting to wake up to the idea that they can use investing for beginners learning as a way to increase their wealth.
They are beginning to understand that simply leaving money in a savings account for 30-40 years is no good. It’s not going to make nearly enough for you to retire on.
Those learning this are young adults. That’s why they are looking toward investing and trading. That includes both stocks and cryptos.
They are getting educated for themselves and their families. And even those in their 30s-40s are teaching their own kids how to do it. They are investing in online courses and seminars. Practical training videos and masterclasses.
It’s all there to be had. Easy to access. Accessible for all.
Being Financially Educated is Empowering
There is nothing like being in control of your life. Especially when you are in control of your money, rather than it being in control of you.
There’s a deep sense of freedom that comes with that empowerment.
You could say it’s almost priceless.
Conclusion
They say knowledge is power. When it comes to your money, it’s true. Because when you now about money and how to manage it. How to save and spend it wisely. How to use it to make money. That gives you the power to live the life you want.
On your terms.
It all begins with financial education.
If you are keen to know more about that and how to make a start, our Money Management Calculator is a great resource.
It helps you work out where your money is going. How to make a financial plan for the future. Also how you can use it to make investments to grow your wealth.
You might also like to subscribe to IM Insider for more investment insights and knowledge, stock market courses.
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- How to unlock the secrets to financial success through stocks, bonds, cryptocurrencies.
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Please note: All information in this article is the opinion of Investment Mastery and not to be taken or used as financial or investment advice. You must always do your own research before investing.
