In the current fast-moving world, no individual is having proper time to have a look at the financial education of their young ones that too at an early age. We usually focus more on how to read, write, speak, and essential etiquette from a young age because they are the basic essential things to be thought to live in society.
Financial management and literacy should be treated similarly as essential as we make them learn common daily activities. Once your child has grown enough to understand the basics related to finance, money and savings then start teaching what purpose financial planning serves and how it is very essential to be learned at an early age.
On the other hand, in this era of uncertainty where the life expectancy is depleting while on the other side the income is also in the southward journey. Early-stage learning always stays in the mind of the children as it is easy for them to digest it and make it part of their life.
On this children’s day, we being parents, let’s take a pledge to adopt financial planning as one of the basic things to be thought to the young ones. They should be able to know about the means of generating money, and the way it can be used and saved on a regular basis.
It should be noted that in the current juncture, always practical knowledge is superior to theoretical knowledge, and the same should be implemented with our little ones as well. Understand their goals in life, make adjustments as required, and show them the path to achieve the same within the specified time period.
At our children’s young age, we as parents will be their role models and the habit that we practice will be acting as the basics for them. It will have a direct impact on their approach toward the financial world and will adopt the same in their day-to-day life.
The financial world should be introduced to children at a young age so they prepare their minds to invest, save and look for wealth and return expansion from their age. To conclude, it is very much essential for all of us to teach our loved ones the importance of money, the different paths to earn them, and the different asset classes to re-invest the savings to maximize the returns.
This children’s day let’s start a fresh round of investment in the equity and the asset classes for the younger generation and make them also do the same from the early stages of their life.
Happy Children’s Day!!