In our world today, money has gone beyond having a bank account, dealing with cash, saving in your piggy bank, or even having a fixed deposit account in the bank. The world kept evolving, where digital finance and tech are the order of the day.
A lot of people now embraced crypto and forex for wealth creation, which in turn can make one lose heavily or have financial freedom, which is how finance is generally, whether crypto or not.
Having said that, the deep question here is, should this concept be taught to children in schools? Probably it could lead them to a better financial investment if they learn about crypto and forex early enough.
To begin with, money is a legal tender that helps both children and adults to purchase their needs. As important as money is, it is vital that children are educated early enough on things concerning money. So seeing how the world is evolving daily, it will be okay to incorporate this aspect of financial knowledge into the school children's curriculum, as it will help them in the near future.
If you look closely, you will discover that most of the school curriculum, especially in my country, is focused mainly on traditional subjects, leaving behind real-life financial knowledge, which is vital too. I am aware that some schools do take their students to the bank for practical experience, but it is still not enough; they need to be versatile, and they need to learn about the current ways of acquiring financial freedom in this digital era without waiting until they are adults to start learning that.
A lot of adults today who are into crypto stumbled upon it through trial and error; some jumped into the investment and missed it completely, while some have made millions of dollars with the half information they acquired. It's a two-way thing, but imagine having the children acquire this important knowledge in this digital era; no doubt it will be a plus as they grow, only that there should be a limit to what they should be exposed to so that they don't start pursuing money, leaving behind the basic education, which is paramount as well.
Again, a lot of crypto learners use demo accounts for forex trading; this isn't real money, so students can do that as well while acquiring this aspect of knowledge in schools. Let them grow up to understand that money is a tool; let them understand the risks involved and how to manage it, the difference between trading and investments or even gambling, the value of money, patience, and other factors around money, but not necessarily turning schoolchildren into mini crypto traders.
Trust me, if we get it right with early exposure, it will help children not to be desperate with money but to have the mindset of doing research while investing, so yes, this knowledge can create smart investors if balance is observed and while applying ethics and discipline, which are very vital.
This knowledge will also go a long way in helping them avoid Ponzi schemes and the like in our world today because they will be financially literate enough to navigate such.
Overall, teaching crypto and forex in schools is not a bad idea at all if done strictly with wisdom. Early exposure to what money is all about will help them grow into adults who are not likely to be fearful and greedy in relation to finances but more informed instead.
With this, we can hope for having a generation that can handle and create wealth better.
This post is in response to the #Hive Learners community contest on the topic titled, CRYPTO AND FOREX.
Images were taken from canva