Being a parent we all have wish that while we were younger, we would have done those things instead of this because of which we are suffering. In that case, our past time is gone so on but what can we do is to guide our children so that they can go on the right path which you didn’t go to in the past time.
Today, we will discuss the most important financial ed which you can give to your children because it is the best gifts which you as a parent can give to your child. After all, it is very essential every time.
- 7 Best Financial Education Skills For Youth
- Final Words
7 Best Financial Education Skills For Youth
#1. Gift financial Growth books
Most of the parents gift their children’s expensive toys, expensive mobile, an expensive watch, etc. but it is the liabilities we all know that I mean in return it has no value it can be an addiction for them and it is not good addiction if you want to make your children addicted then gift them financial books or any self-improvement books because it is that have value in return.
It doesn’t mean they shouldn’t play with toys or get mobile or wear a watch but you have to set such a culture where within certain age gap they will get material goods and when they are more mature you have to gift them best books available.
Books can help your children to improve their concentration, they will have the best investment of time, they will know different perspectives and books can help your children in many ways.
Books are mostly written in the real-life experience of someone so your children can do the right things and it also will help them to not go in a bad direction. At the same point when they complete one after other books you can reward them affordable mobile or watch as per requirements of their age group.
#2. Motivate Your Kids In Early Stage
Somewhat you might agree that if you were able to start your financial journey as early as possible but now not to hesitate to guide your children so that they can do what you didn’t do.
If you do that even if your children get fail you as a parent can be backup for them and tell them you have gain experience by which you know now what is wrong and what is right and also tell them that not to repeat the same mistake again and again but never stop to them doing mistake in their career growth.
You can teach them the value of time and the importance of starting early and also share your own experience by saying to them dear son or daughter I sometimes regret I didn’t start earlier so that your children will get the lesson.
#3. Let Them Follow Their Passion & Goals
I do not believe any humans don’t have passion and goals or aim for there, each of you reading this line is still having those dreams which you saw at young age as a parent. Stop telling your kids “Degree” is everything in life for financial, This is 2021, digital words and you don’t need to have a degree, this is the life of skills, not a degree, future is all about having skills not those have to degree.
So start telling your kids “follow your own life goals, ambitious and aim”.
We all have unique talent inside us, so we want to do something that will help us to build our careers. As being parents, we want our children to be what we want to, not what they want to, slowly and gradually people are evolving and as being parents. We may not be happy with what we are doing that might be a job or any income generating source because before being a parent.
We were also someone daughter or children so we also didn’t do what we want, but did what our parents to see us, by knowing that fact we shouldn’t force our children or we shouldn’t put tags on them like he or she will be doctor, engineer, pilot, etc. But we have to let them do what they want and encourage them to do that because at the end money won’t excite us if we are not getting to do what we love.
So, if your children say let me try this or let me try that, let them do it so that they will come up with something which will find their passion and letting to do what your children want to do is the biggest gift you can give them. Let them realize failure is a part of success, not failure is the end of a career.
It doesn’t mean you let them do whatever they want but you have to make them such by which they will be able to figure out what is good work and what is bad work. Age doesn’t matter but when they feel that they are mature enough to do something let them follow their instincts by any chance they didn’t perform well let them try and always be a cheerful parent.
#4. Inspire Them To Write Each Day Journal
Writing is a great way to develop creative minds because both of the hemispheres of the brain are at work. So, tell them the idea of sharing is caring, if they have something valuable to share with words then the best way your kids can do by creating website blog.
Writing can help your children in a great way while they experience something and if they think they have to share it so that it will benefit or save people from something or help in any way let them do it.
Teach them the great way of generating passive income, tell them to learn skills regarding blogging only if they want, after saying them the importance of writing.
#5. Stop Sharing Your Assets & Properties
Almost half of the kids in today world got to know their parents assets and start thinking our parents have countless money so why shall i worry anymore and start living in parents assets.
This one is very important and it plays a role subconsciously to your children. When you reveal to your children that you have x millions or billions of bank balance or you reveal to your children you have a huge amount of property then your children might think my parent are rich so I shouldn’t do anything and they escape from taking responsibilities as the result they will not take any sort of action and rather than that they might focus on different kinds of bad addiction.
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You have to keep secrets and not let your children know what sort or how much property or money you have. If you reveal they might also think my parent can afford anything and they demand more and more and when they get what they demand, do you think?
They will try to learn something or do something which will help them to earn? Not, because they are not valuing the money and they will not know the importance of financial education.
#6. Stop Comparing Your kids With Studies
Failing in school or college doesn’t mean failing in life too, as a parent you might know those who failed in school or college is highly successful later on after their school or college, why it is so? It is that way because they might have planned something bigger or they might have to keep doing something which adds value to their life which is very much practical.
We must agree that exam taken by schools or colleges test students memory power rather than their intelligence, skills or many things which can be applied in the real world. Don’t judge your children by their result who knows he or she might be more successful or they might be focusing on many skills which don’t give output on today but will definitely in future?
You should tell your children according to your own experience of life, tell them what matters and let them focus on gaining knowledge that helps in their growth, not on their lack of growth. If your children are focusing on developing skills and he is failing in exam then as a parent you might get complaints from the teachers but don’t tell to lose the confidence of your children at the end skills are important than exam result or degree.
It might be a very debatable topic but we shouldn’t think the degree is everything. Let me quote Elon Musk here, he said “I don’t know why people confuse intelligence with the degree, you can have a degree but still be an idiot.
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“You think yourself like we spend more than 14-15 years on school, college and at the end, we want a degree and we go to search for a job or go abroad like is it purposeful life? why don’t we focus on teaching on how to create jobs?
Why don’t we focus on teaching financial education? Focus on developing practical skills, focus on mental health, leadership, emotional behavior, etc.
#7. Inspire Them Real Education Come’S from Real Experience
Experience means when you will be able to evaluate what does work and what doesn’t work. To gain experience, you have to try something and while trying or doing something.
While trying or doing something either you might do it or you might be able to do it but it doesn’t mean once you tried and didn’t do it means you cannot do it every time.
While trying and doing something you fail, you fail and you fail (fail is not the end but it is the part of success) in that sense you have to try and do it again because that is from where you gain experience and that comes from doing it until it is done. When you don’t make it, you will know how it looks like not making it and when you do make it you will know how it looks like making.
So, to gain real education you have to try a lot and you have to learn different books, meet different people, learn different skills many times, visit different places and it will teach you so many things which will help you a lot. so, let your children get real education through you as a parent as well as let also explore many things so that they will end up being an impactful person.
Don’t let do the same mistake which you made or which you feel any sort of thing is not valuable to your children if they do it, it will teach themselves a life lesson and in future, they might also teach their children or your grandchildren.
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