Money Habits Start Early—So Should Financial Literacy

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(Edited)

When one is financially literate , then it becomes possible for such a person to have a smart relationship with money. Financial literacy is about the use of money, earning, investments, and anything finance. A lot of people were fortunate to be exposed to finance in their early childhood, which has helped them to make informed decisions when it comes to money as they continued to grow. Unfortunately , that wasn't the case for me!

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I first learned about financial literacy in a low-key way during my secondary school stage. Permit me to say that my parent missed it. I was always coming in contact with money , running errands, paying TP, and others, but I wasn't really educated much about money with my parents. My parent was this type of person that will always say, "Focus on your academics; there is time for everything". Back then, once a relative gave me money, they would collect it immediately from me. Not even Nkem, Save this money; it's important for this or that. Or use this money for a need, such as school materials, and not a WANT.


Again, I was always made to support my parents with their petty trading then, but that intentional financial education wasn't there until my secondary school days when I started offering economics and business studies .If I should be sincere , then, I will tell you that I got a grasp of this whole financial literacy during my tertiary days. What an Error! Let me shock you. Those days in my tertiary level, my mates were already relating smartly with money, taking every opportunity in school to make money. Immediately they announce that we are having practicals , they will rush to the market , buy lots of our practical materials, and start selling them to us. How smart most of my mates were, and I begin to wonder how they learned far more than me, but then, even the Bible says, Catch them young.

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I was also surprised initially to discover lots of Hivers here who are still pursuing their university admission, and yet, they are already earning and investing for themselves. What a privilege to learn this early enough, but the reverse was just the case for me.

Financial literacy should begin as early as children start understanding their mathematics in school. Money is an important subject for everyone, and so I think we shouldn't wait longer before we start educating our young ones all about money. Instead of kids receiving money and parents collecting it from them, teach them savings, teach them that through investment , the money can grow🪴, teach them all about spending , our needs vs our wants, and let them be financially responsible. Let them understand the concept of money without reservations.

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Remember that most habits learned at the childhood stage hardly go away; they have a way of sticking to the memory. Financial literacy isn't an exception, and having the skill and the needed knowledge to handle money responsibly is very vital for everyone.

Look around in our world today and see good numbers of people who earn huge amounts of money but yet lack management skills; the money doesn't stay in their hands. We also have some people who earn very little but double up their capital within a short time through smart money relationships. The difference between the two is simply financial literacy .

The earlier, the better!!

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This is my response to the #HiveLearners community contest on the topic titled, Financial Literacy.

Images were taken from canva

Posted Using INLEO



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29 comments
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Hmm, looks like we used to be in the same boat. I was not financially literate until later in tertiary institution.

Now I'm learning and taking every opportunity to be financial literate

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See my neighbor here oo..lol

It's not really good learning it late but then, it's good we know it now!

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I totally agree: the earlier we start learning about money, the better prepared we are for the future. Financial education transforms the way we handle life's opportunities

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Sure..it totally transforms how we handle opportunities in life
Very important

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What matters is that you eventually learned and it's helping thrive in life already. Financial literacy should be taught early and it's a good thing we are doing things differently from how our parents did.

We will be doing our kids a great help if we allow them to get exposed based on their understanding.

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Yesoo..that's what matters, hopefully I do the needful in the lives of my kids

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You made me remember how I do get paid for helping my students to write their notes and would save the money with my friends then. I learnt about savings at a young age even though it was meant to buy Christmas clothes and the likes.
Financial literacy is very important for children to learn at an early age and not be deprived them.

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(Edited)

Exactly my point, there is no specific age for financial literacy as soon as the child starts exhibiting some form of sense, they should be taught the importance of money, savings and how best to utilise it. Because really children grow with what you expose them to.

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Thanks for this dear...glad u could relate ...catch them young..no age abeg

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I have similar experience like you did... The habit of parents always collecting the money making you think that life will always be that way
It's good we finally got a grasp of financial literacy regardless... The deed has been done already

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Leave our African parent oo..lol

They did what they know

Now we know better, let's do the needful to the young ones

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I also think that financial education should be introduced as early as possible as we need it in our real life and there is no reason to delay it. Unfortunately, still our education system is not doing the thing but I feel it's very important.

!PIZZA

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Yea..if educational sector will face important things...this financial literacy issues will become a thing of the past

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As you said "the earlier the better". I think your parents did the best that they could and your own curiousity was only peaked later. It is good that you learnt it when you did and that you will ensure that your children learn as soon as possible.

Times are different now and I am sure your children will be curious and interested to learn about making and managing/investing money at a much earlier age. As the ways of earning money has also changed a lot with technological advancement and social media - children are a lot more inquisitive than even the generation before them due to the exposure they have as well.

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Indeed momo...my parents did what they could do ...now I know better, I should do better for my kids

And you are right ...the ways of earning money has changed and has become easier too...we can take advantage of that

Thanks for engaging 🥰

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