Post by account_disabled on Feb 19, 2024 23:53:11 GMT -5
Both boys and girls have strong learning abilities, so it is important to harness this ability so that they learn to manage their finances from an early age. In today’s article, we discuss financial education for boys and girls, what it is, why it is important, and how to teach it. During the economic crisis that occurred in , it was discovered that many affected people made poor financial decisions due to a lack of training in this area. Data from the ISA report prepared by the Organization for Economic Co-operation and Development (OECD) show that one in four Spanish teenagers knows nothing about finances. On the other hand, research on financial education and savings and investment decisions conducted by CNMV shows that those who know more about finance save more. To sum up, it is clear that financial education for boys and girls must be an essential element of their training and should be part of the study programme. What is financial education? Financial education includes a set of knowledge that helps to understand how money works at all levels - national, family and personal - in order to properly manage personal finances and have a good quality of life. Financial education can help avoid future debt woes caused by ignorance. In order to teach financial education to boys and girls, four basic concepts must be understood: Bills. In order to save money, it is crucial to control your expenses and keep them below your income. It’s about understanding where our money is going and spending less. It's also important to understand the difference between debt that funds the purchase of an asset (which generates a return) and debt that funds the purchase of a liability (for example, the purchase of a vehicle that involves gas, insurance, or other expenses). repair). income. Income usually consists of wages earned from work or income from self-employed activities. save. Controlling expenses allows us to save money so we can deal with unforeseen events, such as unexpected home repair bills, traffic fines, or medical bills. invest.
Savings, in turn, help us invest in assets that generate returns, help us overcome periods of crisis, or can be sold if they appreciate in value in the future. How to provide financial education to boys and girls? A child's financial education dep Chinese Overseas Asia Number Data ends not only on the knowledge they gain in school, but also on what they learn from their parents. Below, we offer some suggestions for your children to learn financial education: Promote the habit of saving. One of the first things you can teach your children about financial education is to develop the habit of saving. It can start with something as simple as giving them a piggy bank. To help them learn to save, help them set a savings goal (for example, buy a book they like) and develop a savings plan to achieve that goal. This way you motivate them and the saving effort is meaningful to them. They will learn to be responsible and think about the future. Give your sons and daughters some pocket money so they can learn how to manage. For example, one way for boys and girls to learn to save is to give them a fixed weekly payment. Through payments, a boy or girl will learn that money is limited and they must prioritize, that they cannot buy everything they want, and that saving requires effort. Teach them what money is. It is vital that boys and girls learn from an early age the value of money, that it is earned through work and should be used to pay for important things such as food or school.
Additionally, they must understand the four basic elements we detailed above: spending, income, saving, and investing. Explain to them the difference between essential expenses and non-essential expenses. Boys and girls are like sponges when it comes to learning, so you should lead by example and teach them the difference between necessary expenses, such as food, housing, school, or clothes, and non-essential expenses, such as these designed to meet emergencies. Fantasy. Teach them to shop wisely. Another aspect you can teach your children is to buy wisely and be responsible consumers. For example, you can help them understand that it's important to compare prices from place to place in order to save money, or that they shouldn't believe all ads but should carefully analyze each product. Help them receive financial education training through apps. There are several apps on the market focused on helping boys and girls learn financial education, such as: Life Hub, Banqer or coalsetter. These apps often use games to allow boys and girls to learn financial education in a simple and fun way. Financial education for boys and girls must be a fundamental part of the program. Learning can be adapted according to age, for example, the youngest children learn about the importance of money in life and how to manage it properly, and slightly older boys and girls learn to plan their income and expenses. short and long term, as well as analyzing and understanding financial risks.
Savings, in turn, help us invest in assets that generate returns, help us overcome periods of crisis, or can be sold if they appreciate in value in the future. How to provide financial education to boys and girls? A child's financial education dep Chinese Overseas Asia Number Data ends not only on the knowledge they gain in school, but also on what they learn from their parents. Below, we offer some suggestions for your children to learn financial education: Promote the habit of saving. One of the first things you can teach your children about financial education is to develop the habit of saving. It can start with something as simple as giving them a piggy bank. To help them learn to save, help them set a savings goal (for example, buy a book they like) and develop a savings plan to achieve that goal. This way you motivate them and the saving effort is meaningful to them. They will learn to be responsible and think about the future. Give your sons and daughters some pocket money so they can learn how to manage. For example, one way for boys and girls to learn to save is to give them a fixed weekly payment. Through payments, a boy or girl will learn that money is limited and they must prioritize, that they cannot buy everything they want, and that saving requires effort. Teach them what money is. It is vital that boys and girls learn from an early age the value of money, that it is earned through work and should be used to pay for important things such as food or school.
Additionally, they must understand the four basic elements we detailed above: spending, income, saving, and investing. Explain to them the difference between essential expenses and non-essential expenses. Boys and girls are like sponges when it comes to learning, so you should lead by example and teach them the difference between necessary expenses, such as food, housing, school, or clothes, and non-essential expenses, such as these designed to meet emergencies. Fantasy. Teach them to shop wisely. Another aspect you can teach your children is to buy wisely and be responsible consumers. For example, you can help them understand that it's important to compare prices from place to place in order to save money, or that they shouldn't believe all ads but should carefully analyze each product. Help them receive financial education training through apps. There are several apps on the market focused on helping boys and girls learn financial education, such as: Life Hub, Banqer or coalsetter. These apps often use games to allow boys and girls to learn financial education in a simple and fun way. Financial education for boys and girls must be a fundamental part of the program. Learning can be adapted according to age, for example, the youngest children learn about the importance of money in life and how to manage it properly, and slightly older boys and girls learn to plan their income and expenses. short and long term, as well as analyzing and understanding financial risks.