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Jrd · 2023-12-03T01:11:12Z

"Teach a child the way he should go; when he grows up, he shall not depart from it..."Today, Azàland recommends early on healthy financial habits inculcation into kids either by active learning or passive impact. From the very moment of birth, a child starts developing financial behavioral habits. Consider all the messages, impressions and signals kids receive related to money: from parental models, media and advertisements, peer and societal influences to spend. Research demonstrates that this financial habit has formed and taken firm root age by the age as low as 5 years (around primary 1). Experience has also shown that many kids with bad money habits ruin their family's wealth after the passing of their parents. If children don’t have positive financial role models or people to teach them about money, they may fall into the common financial traps many people experience as adults.Conclusively therefore, it is essential for parents and teachers to make conscious and consistent efforts to discuss finances, model good financial decision-making, and provide opportunities for kids to practice:1. Earning money2. Budgeting their money3. Saving money (piggy banks, kolo), and 4. Spending wisely.They are better inculcated at early stage especially while the kids still have the safety net of living at home and being supported by their families. At Azàland, we desire to provide all the motivation, platform and resources to help parents and kids.BENEFITS (SUMMARY)Below are the attached benefits under each heading in summary. 1. Earning Money When kids at early stage experience what earning money looks and feels like, this tends to make them appreciate its value more, unlike kids born with silver spoon who got everything prepared for them. Average kids who have experiences earning money tend to grow up to be smarter with money.2. Budgeting Teaching kids to budget is a great way to prepare them for life reality where we have limited resources but unlimited wants, and then needs. Budgeting Knowledge and practice will inculcate being in charge of financial life from early stage. The benefits are many. They will learn to keep records, track expenses and exhibit many other wise money tactics.3. SavingBuy your kids piggy bank or kóló. Let them start keeping some change or extra money there for future use. This single practice will never leave them when they grow up. Parents, start this today. 4. Spending, wiselyThis will need practical session. Let your kids experience Spending so that they can pick the lessons of wise choices. Take advantage of such moments to inculcate some important money lessons.They will learn to be conscious about spending, not to be lavish, or extravagant. They will learn moderation when it comes to ostentatious and fake lifestyles paraded on the media by negative influencers. Teach a boy in the way he should go. When he grows up, he will not depart from it. If parents fail to teach their kids at home, trust me, there are myriads of teachers out there always ready to teach them: their peers, television, movies, music, Facebook, Tiktok, Instagram, Twitter, influencers, celebrities and many more.Who would you rather trust to teach your kids? Obviously not the polluted internet.We encourage parents especially today to take special and urgent interest in the financial education of their children. It is one major way to groom them right and prepare them for the adulthood ahead of them. It is a great legacy to hand down.ADVOCACY, EDUCATION BY AZÀLANDAzàland has created this safe enabling environment (online platform) for healthy discussion on finances for both old and young. Also, in collaboration with right authorities, finance education programs will be administered via #AzaLearn or #Azademy soon for Kids, Youths and Adults with powerful curricula.CONCLUSION Child upbringing is synonymous to building a house. Which kind of land are you building upon? And what foundation are you laying? Early sound financial knowledge and skills impacted into your children is like building on a solid foundation like building on a rock with quality materials. The structure will withstand many storms.Stay tuned.(c) Azaland.comPlease share this article with friends and family. Yours truly,Jared,Azàland

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The Importance of Early Financial Education for Your Kids

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Posts: 12

Efekubor

Dec 22, 2023 2:10 pm

(@efekubor)

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Joined: 2 years ago

They think it's all about getting the money. I know someone that has counted millions but yet nothing to show for it. Educate your children financially you say no

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Jrd

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Dec 22, 2023 2:35 pm

(@jrd)

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Joined: 2027 years ago

They think it's all about getting the money. I know someone that has counted millions but yet nothing to show for it. Educate your children financially you say no

It's a great way to save their future. Right financial knowledge

Financial Literacy is the possession of knowledge, skills and behavioral traits that help an individual make informed decisions regarding money. 💰

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YoungA

Dec 22, 2023 2:51 pm

(@younga)

Estimable Member

Joined: 2 years ago

They think it's all about getting the money. I know someone that has counted millions but yet nothing to show for it. Educate your children financially you say no

Parents to an extent need to learn, unlearn and relearn more about money.

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Ernest

Dec 22, 2023 3:39 pm

(@ernest)

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Nice one

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Greatness

Dec 27, 2023 7:49 am

(@greatness)

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Joined: 3 years ago

Hard facts.

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