One of the greatest lesson to teach children is how to be financially responsible and in general financial literacy i.e. ability to understand and evaluate things. As humans, valuable lessons of life are inculcated while been a child and those are the bedrock for a better life. Financial literacy starts with having the right perspective about money, value addition and how this relates with money (means/reward of value exchange), place of legitimacy, hardwork, honesty etc. If as a child the ideology is wobbled about finance, it has a tendency of possing danger in the nearest future.
However, it is good to appreciate changes in times and seasons even as the world moves from physical/handy currency to digital currency. Nowadays, the trend is shifting from a centralized system to a decentralized one with the advent of cryptocurrencies. The truth is that cryptocurrency and digital financial trading and assests has come to stay even as it is been tilted towards. However, i believe two things needs to be addressed as concerning finances: obsession and misuse. There are alot of obsession about money going right on than it is in some years back which even made some to engage in scrupulous activities. Also, money gotten with the right understanding of finances will be blown away.
As much as i love digital finance like crypto, foreign exchange and some other ones even for investment, i believe they shouldn't be taught to kids in schools. The reason isn't far fetched and this is because, kids at such age might be exposed early enough to scopes/concepts too much for them to handle even as there are things to learn at different phase of life. Take for example, we have seen people commits suicide because of the loss, volatility and risks involved in digital finance which emotionally, if not handled well may result to something unpalatable. In addition, this can result to some form of addition to phone/gadgets, distraction to academic focus and all. Source
I believe that for kids, financial literacy including investment concepts such include basic understanding of what finances are, right and wrong ways to go about it, value addition (and its reward either financially or non-financially), the place of fidelity/trust as regards finances, how to be financially responsible and been a responsible investor etc. Life is not all about finances and money is not everything, but just a tool. The place of knowledge, discipline and accountability/responsibility is what i believe are the great investment kids should be taught and raised even as the greatest investment is in people and not in things.
I believe when the right time comes and these values are already well understood, practiced and inclucated, the individual will be set to go into digital finance prepared and balanced. Cryptocurrency and foreign exchange has its advantage and disadvantage or better put, ups and downs which a kid may not be able to manage well at that level. There are things to learn as a kid and that as an adult, it's always good to not put the cart before the horse. Thanks for reading even as comments, contributions and engagements are welcomed.
This is my entry to @Hivelearners weekly featured contents, week 202 episode 01 on "CRYPTO AND FOREX"
