The development of financial literacy is an important aspect of raising children, said Tatyana Volkova, an investor and financial consultant. The expert told Izvestia on June 24 how to teach a child to handle money and save it.
“Financial literacy is the path to a better life. Thanks to financial knowledge, children will be able to meet basic needs faster than if they were not aware of this. They will also have time and opportunity to develop, create and implement their ideas,” she explained.
The investor emphasized that financially literate people have a different perception of the world, and they will become the backbone of the economy and the country as a whole, and will be able to make informed financial decisions.
“In order to teach a child to interact with money competently, parents, firstly, need to improve financial literacy themselves. After all, it is the parents who are guided by the child in fundamental issues, ”Volkova believes. For the benefit of the state: the State Duma proposes to open accounts for children from the moment of birth How realistic is the creation of such an accumulation system and where parliamentarians want to take money for it
According to her, it is important to help the child deal with money in practice, tell him about various formats money (about cash, bank cards). In addition, with young children you can play the “cash desk” so that they understand the essence of the commodity-money exchange, the expert added. At the same time, if the child has reached the age of six or eight, you can purchase more difficult financial games, such as Monopoly.
“And teenagers absolutely should be given pocket money. Pocket money is a kind of financial management simulator. With the help of them, the child can plan spending, learn to save money and achieve small goals. Here, too, there are several important aspects. For example, the solidarity of all family members. It is important that all relatives understand the purpose of pocket money and do not violate the rules for issuing it. It is also necessary to discuss with the child the frequency of issuing pocket funds,” the financial consultant recommended.
As the expert explained, small children aged eight or nine can be given pocket money every day, because the planning horizon at this age is very small.
“Gradually, the period will increase. Also be sure to talk to your child about why you are giving him money. Not because you love him very much or want to encourage him for fives (by the way, you absolutely cannot do this), but because you want to develop his financial literacy. You can also talk about what purchases you can spend money on and what not. And return to this regularly so that he does not forget, ”she said.
The investor clarified that each parent may have their own prohibitions, but they should definitely be discussed.
It is also worth talking with the child about his global goals and dreams, so that he is motivated to save for them from his pocket money. Labor and teenagers: 60% of Russians started working before the age of 18 What problems do young job seekers face and why is it better to gain experience from an early age
“When it comes to financial literacy, you can safely involve a child in budget planning. So he will better understand the family’s cash flows and consciously approach spending (including on himself, his “Wishlist”),” the financial consultant added.
In her opinion, children should be introduced into the world of money from an early age and should not wait until they grow up and become independent.
“Strengthen their understanding of financial matters, help them to feel that money is not only a medium of exchange, but also an opportunity to create and change the world. Of course, this will require a lot of patience from you: more than once you will have to talk about pocket money, budget planning, emotional purchases that are characteristic of children. But in any case, it’s better to do it now than to raise a child in a financial vacuum, without understanding financial relationships, ”Volkova concluded.
On June 1, the State Duma adopted a bill allowing citizens aged 14 and over to conclude an employment contract without the consent of the guardianship and guardianship authorities. According to HeadHunter, every second Russian has his first job at the age of 17 or earlier. As a rule, teenagers are looking for income in order to achieve financial independence.Share: