Are your kids financially responsible?
As parents we invest huge amounts of time and resources into making sure we provide the best education for our kids. We do this not only by formal education, but also with all sorts of extracurricular activities.
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But truth is the education system is failing at teaching our kids some of life's most useful skills, like money management. We are not talking about sophisticated financial concepts, but simple ideas like:
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money
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saving vs spending
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understanding a purchase
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what you need to know about basic banking products and services
The education system is failing at teaching our kids basic financial ideas and skills
According to all the available research, a very large proportion of kids fail to understand the most basic economic concepts. This is alarming, as most kids start engaging in economic activity sooner than ever:
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most of them buy on-line and via their mobile phone
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most of them receive some sort of revenue
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many of them will be signing a college loan in the years to come