It seems that financial education is the 'Achilles heel' in many societies. The common people have little preparation in the subject, while others handle basic information; therefore, the opportunity to teach the little ones escapes. What is really important is to emphasize that the earlier you start learning about financial education, the better decisions you can make.
At school, teachers can serve as nexus, arousing curiosity and providing basic notions of financial education, which together with some intuitively learned concepts in the home will offer better opportunities for the youngest. And this while waiting for a specific subject to be included in educational programs.
Financial education in the early stages:
-Children between six and seven years. Familiarize them with money, tell them about the value of bills and coins, relying on didactic games. Also teach them the difference between gaining and losing it, letting them know that it involves effort and limits, which is not an infinite resource, so not everything we want we can get it immediately.
-Children between eight and nine years. They are ready to learn about saving through techniques related to the piggy bank and how it allows them to approach the goals set.
A good tactic would be to make a savings plan and work with them weekly on the progress, highlighting the closeness to the proposed goal. Through the game 'The great adventure of saving', children can acquire techniques that will help with their training in financial matters.
-Children between 10 and 11 years. Teach them the difference between desire and need; this involves learning to choose products relating price, quality, utility, etc. It can begin to increase the financial maturity of the child, presenting them with a concept such as the loan, which involves making decisions, when considering their advantages and disadvantages.
It would be ideal if this training process were developed simultaneously from school and home, explaining, for example, that money does not spring from ATMs, but that it is related to an account in the bank and is a product of the work done . Or through practice, assigning the allowance weekly (and not on a daily basis) to encourage the organization and management of money.
In times when good or bad decisions are set at the speed of technology, people need financial education. Therefore, addressing these issues in the family and at school is very important