Skip to main content

Posts

Tiny Economists: Building Financial Skills in Kids

Financial education is crucial for children as it provides them with the tools and knowledge necessary to make informed decisions about their money in the future. Let's review what we studied in school as children: the year of some king's or military leader's conquest in the 16th century, Latin, the periodic table of chemical elements, and so on. I am a firm believer that knowledge doesn't take up space and that it's wonderful to know a little bit about everything, even if it's just to answer questions on TV quiz shows. In more "modern" schools, they even teach children to cook or iron as something useful for their lives. But how many schools do we know that teach children what compound interest is?, how a savings account works vs a current account?, the difference between a debit card and a credit card, or how a loan is amortized? Sooner or later, we are all, absolutely all, going to have to know and use these products. Teaching children about the va