What are the main things that should be taught to children about finance?
By iamazam
@muhammadazam (25)
Bandung, Indonesia
October 11, 2023 9:04am CST
The basic things that I think are very important are taught from an early age. Why production and income? Look at the surrounding environment where their children have entered elementary school, the average pocket money is not set by people, if they ask for it, they will definitely be given even though the nominal is small and then ask again, again, and again. Even though it should be rationed per day, especially if the child already knows the nominal money. For example, a grade 5 elementary school child is allocated 10k a day, meaning that within one day the elementary school child must be able to manage his 10 thousand money from morning to night. My nephew can only spend 10k a day. When he was in school he only had 5k provisions, then he snacked again at home after school 2k, the remaining 3k he took to recite. Sometimes he deliberately makes food for provisions so that his 5k money can be saved. Both parents are there and the finances are well-off, but I personally if I were a parent would definitely apply something like this to learn to manage their own finances starting from a small nominal.
1 person likes this
1 response
@arunima25 (87855)
• Bangalore, India
11 Oct 23
Financial discipline and value for money should be taught right from a very young age. I have done that with my children. And I am happy that they have value for money
@muhammadazam (25)
• Bandung, Indonesia
12 Oct 23
It's true that we have to educate from childhood
1 person likes this
@arunima25 (87855)
• Bangalore, India
12 Oct 23
@muhammadazam Yes, this becomes a habit that stays for lifetime if taught at young age.