Finance a very important subject yet neglected by many. Finance is the bed rock of almost every institution, organization or sector. It goes as far as even affecting the natural organic start of society known as family. Financial Literacy involves the education of generating, investing, saving and managing money. It is important that children should be equipped with information on how to manage money from the early stage of life. Such information given to them will be key and vital to them in making effective decisions in the use of money.
This is important, for it gives children the value to money and other resources given to them. Ignorance and lack of information has made most people poor. The average Nigerian hardly has an investment and saving culture. Financial literacy can solve the spending and poverty mentality. As the saying goes, ‘Charity begins at home financial literacy can begin from the house. Once a child begins to have receive information, knowledge and understanding of acquiring of goods like ice-cream, biscuits, cloths and all, the child can be taught financial management skills. It should be noted that there is a lesson for the different ages of a child’s life. Irrespective of the age, parents must have at the back of their minds that values, budget, needs and setting priority. You can only be as rich as how much you save or give. The teaching of financial literacy will save him or her from a lot of financial stress in the future. The importance of such information cannot be overemphasized.
This is because of some of the following reasons;
The one who saves always have money to invest when opportunities present themselves
The feeling and thinking of emptiness is easily acquired when your account is always empty. It can even affect a man’s faith and emotion, thereby making physically needy.
The rich never spend it all, therefore teaching such skills, is teaching your child the ways of the rich. The rich look for money to save, give and invest while the poor look for money to spend.
You help them free from debt in the future
You will help in nurturing mindset of a producer and investor even at a young age
Teach your child how to save, invest and manage money today, you may be helping them to save for their future.