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The importance of learning about money management and investment at a young age.

Updated: Mar 3, 2021

Most people think it is more important for kids to study academic subjects at school than learning about money, savings, and investment. Or you may think it is too early for them to learn, etc.

You have seen kids who spend an extensive amount of money with no hesitation. You have seen some kids who do not have any idea how much they have spent after a trip with classmates. You sometimes think that it is the right time to teach your kids about money and you have started, but somehow you haven’t got there yet.

According to statistics, many developed countries such as Australia, Canada and Japan introduce some types of money management lessons at school. It is important for young children to understand basic terms about money as young as 6 years of age.

The sooner your children learn about money and how to save money for their goals, the less problem the children will face in the future about money.

Areas the children should learn before reaching age of 18:

  • Learning the basic terms about money and why it is important to manage money

  • Learning how to set a simple goal and save for that goal

  • Learning and practising psychologically how to distiguish between the needs and wants

  • Learning about the value of money in different countries and how the economic works

  • Understanding basic terms of investments and financial instruments

  • Learning how to plan the future financially

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1 Comment

van minh pham
van minh pham
Jan 09, 2021

I am interested in this topic and want to know more about how can I teach my children about financial literacy

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