The Importance of Financial Literacy for Students During Early Development Years
People teach children how to read, write, count, and behave. But they often forget to teach them how money works. And that’s a mistake they carry with them until adulthood. This is where financial literacy comes in, most especially at an early age. Children become wise, eventually growing into confident, responsible, independent individuals. Let us break this down in simple words. What Is Financial Literacy for Young Students? Financial literacy means understanding money in a very basic and practical way. This has nothing to do with knowing banking terminologies or solving complex mathematics, but simple concepts such as: What is money? Why do we use money? Needs and wants Importance of savings Money is earned; it’s not magic. All these five concepts help build the base that will support, later on, more articulated decision-making abilities. Why Early Childhood Is the Best Time to Learn About Money Because lessons stick the fastest during their formative years. With open minds, c...