Mistakes are repeated when teaching children financial awareness
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| Developing children's financial awareness |
In this article, we will explain to you the most important mistakes that are repeated when teaching financial awareness to children through discussions and continuing education in simplified points that benefit future generations.
- Continuing to give them the financial reward in return for an essential role for them in life, such as studying, solving duties, and performing prayers, and it is better to make the reward in exchange for additional work from them, such as helping to perform jobs for the parents.
- Not to talk to them about the basics of “financial awareness” such as budgeting and saving, and you can benefit from the Riyal Financial Awareness Program to fill the shortfall in that.
- Continuing to inform children, intentionally or unintentionally, that our money does not end, all their requests are answered, and not offering them the least expensive alternatives to save.
- Not encouraging them to give to others, whether as a charity for the poor, a gift for loved ones, or a benefit to society, as if financial awareness is personal success and an invitation to miserliness.
- Talking ironically about the one who loves money and is greedy, and the one who does not love money is generous, and the truth is that the saver is not stingy and the spendthrift is not generous, and moderation is good.
- Not controlling their enthusiasm, which may make them save all their money, and they may take what is not theirs, and the situation may be worse, so the goals must be discussed with them and ensure their rationality.
- Failure to provide tools to assist their financial success, such as the presence of a piggy bank, schedules, family discussion, and encouragement.
In the end, we can add an important point, which is that determining the goal of collecting money, whether it is a small or large amount, the presence of the goal is an incentive to save, and the child must get used to setting goals based on need.
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