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Teaching their kids about financial management and financial concepts isn’t really a priority for many parents. In fact, it often doesn’t figure in any meaningful way at all, beyond perhaps issuing an allowance and giving the child a piggy bank to proudly store their savings in.
Of course, The Financial Fairy Tales are based around the premise that there is real value in introducing your children to the world of finance at a young age, while also acknowledging that the best way to teach children is frequently through metaphor and story, such as by weaving financial messages into a fairytale structure that everyone can understand on an intuitive level.
Unfortunately, however, some people believe that teaching their children about finances will have a detrimental on them in some way or another. Perhaps by making them more cynical, greedy, or less imaginative.
Here are a just a few benefits of teaching your children about finance at a young age, to offset any such potential concerns.
It can open their eyes to financial opportunities down the line
There are a lot of ways in which someone can make their fortune through interacting with the world of finance, but the vast majority of these avenues remain closed to those who haven’t been trained to spot them, and who aren’t armed with the confidence and basic know-how required to get involved.
Forex trading is one of the most potentially lucrative and rewarding financial fields to get involved in, but it requires a good degree of confidence and financial understanding to participate in fruitfully.
Getting your child comfortable with financial thinking, and getting them to consider the financial dimensions of things from an early age, can increase the odds that they will be able to successfully navigate realms such as Forex one day, with the help of tools such as those found at FX-List.
It can help them to avoid developing a fear or dislike of financial thinking
Many people have a somewhat pathological fear, or dislike, of financial thinking or financial management, well into adulthood. This often stems both from a sense of insecurity and also from a sense that there is something inherently uncouth or threatening about dealing with financial topics.
Yet whatever we do in life, financial considerations must be given their due. By getting your child comfortable with financial thinking at an early age, you help to ensure that they practice better money-management down the line, and are more responsible in their financial dealings.
It can help them to develop an entrepreneurial mindset from an early age
Children tend to be naturally enthusiastic about the world, and if something is presented to them as a game or a challenge, they will typically be keen to get involved.
When your child is introduced to financial concepts at an early age, it is more likely that they will seek to apply those concepts. In the short term, this may start as “investing” pocket money. Over time, however, it can develop into a genuine entrepreneurial streak, of the sort that can transform their destinies for the better.
