How do we provide financial education to children? This is a question on the lips of all parents and teachers. A child, at the age of 3, understands much more than he can express. Financial education at the age of 3 should not be missing; financial education for children is a necessity of the century we live in.
A child, at the age of 3, if you speak to him in a way he understands, can learn the secrets of financial education.
How do we provide financial education to children?
First of all, it is necessary to know that at the age of 3, the basic activity is play. Play, but not play. Play is an activity through which the child learns. In a playful, creative manner, the child learns without realizing that he is learning.
Reality is transposed into play. Through play, children learn to manage money. This way they will be prepared for the moment when they will be responsible for their money. Now the foundations are laid for their financial future.
Who provides financial education to children?
In the absence of education about personal finances at school, children need parents to educate them in this area. Financial education is not only about money, but also about life. The parent will provide their child with all the information about money: what money is, where it comes from, how it is managed, who works for it, what you can work to produce money, how money circulates, how you manage it.
Financial education begins at 3 years old by presenting money and accompanying them shopping to see with their own eyes what really happens with money. They will easily learn to manage their money on their own: what to buy and what not to buy and how to keep their money.
Parents are the ones who transmit, in addition to information and emotions, the child’s attitude, which implies a risk for the learner.
Beliefs and the mentality of earning and managing money
How do we provide financial education to children when the parent has an aversion to money or to people with money? All of these beliefs are clues to attracting or repelling money. These types of beliefs are also transposed to children. Therefore, a parent who is convinced that you have to work hard and not get to see your children in order to produce money will limit the child to this perspective. A child raised with this mentality will act accordingly and will think that: “this is the only way to make money; not from business or investments because they are risky and only bad people earn a lot of money”.
Another perverted information about money, which can interfere with children’s financial education, is represented by the aversion to saving. If the parent cannot save, he transmits to the child the negative emotions that he feels. The negative emotion of constraint, of frustration at the idea of savings that prevents “living in the moment” causes the child to have the same feelings in relation to this lesson in financial education.
Parent – the model in children’s financial education
Financial education for children is actually the financial education of adults.
Education is done at a young age and through imitation, so the child will see if the parent saves or just preaches this quality, since he cannot refrain from making impulsive purchases.
The parent is the child’s model in managing money, earning it and in all his beliefs about money. The child will take over without realizing everything the parent does, not what the parent says. How can you give your child financial education if you don’t master it? I invite you to become aware and to recognize reality. If the parent doesn’t save, however, he is at the lesson: saving and it is necessary to convey information about this habit to the child, he will have to be honest and tell him that he doesn’t save and therefore he will start doing this with the child. The child will be happy that he is treated like an adult, that his parent confides in him and will be compliant in the habits that the parent wants to create for him.
How was my financial education given as a child?
I had two models in my family; two worthy models to follow in managing money: my grandmother and my mother.
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From my mother I learned:
– that money is not a taboo subject and that we need to talk about money, to discuss it at leisure before making a financial decision;
– what is the devaluation of money and why should I put my money in a financial product. I learned early on that if today I can buy two dresses with the money I have, tomorrow I may be able to buy just one, with the same money.
– postponing the reward for something better in the future and what is a need and a desire. The fact that I like something now and am willing to take it in all the colors available, I may not like it later and regret it because then I can see something else but I will no longer have the money to buy that thing because now I bought everything now.
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From my grandmother I learned:
– that money is made through work and that the work I do must do good to others, but also give me pleasure;
– that no matter how little or much money we have we must take care of it and “save it”. This information was combined with imitation because every month, from her little, grandmother put money aside “for the funeral” (this is a financial goal in old age).
– that we must analyze purchasing decisions very carefully and analyze whether it is a good idea to buy that product, especially if it is on sale.
More lessons that you can pass on to your child can be found here: https://www.psihologiabanilor.ro/5-lectii-de-educatie-financiara-pentru-copii/
I invite you to talk to your child about money. You have learned how to provide financial education to your child. Why you should do it is necessary to identify it yourself. What harm can it cause them? I find only good things in this type of education. Do you, too?
I invite you to be patient and persistent in the financial education provided to your child. In relation to his age, the lessons and information adapt and it is necessary that those financially healthy behaviors are established over time.
If you want to learn much more about financial education for children, you can find it here: https://financialparenting.eu/
Success in raising awareness of money and the importance of financial education for children!
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