Financial Literacy

8 days ago

Growing up as an African child with parents who are business inclined, money comes in from different angle, so from a very young age I was exposed to a lot money because I was managing our small store located in front of the house. Whenever my mom goes through the store stock, she ensures i was present which she also says that she was grooming me to be independent, self confident and be able to take up responsibilities when the need arises.

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Reflecting back now i think that financial literacy should be inclined as young as possible because what a child grows up knowing, he or she doesnt forget easily because it becomes part of him or her. i remember when i was in the high school i was able to make some savings because i was taught how to manage my resources well while at home thus making me not to spend extravagantly while in school. Along the line i started doing some little businesses with the little resources i had. I kept on managing those business until I entered the university, thanks to the knowledge i gathered from helping my mom in her store. I there was nothing legally saleable which i didn't sale of which enabled me make some sayings

Just like a child who when ever he/she is being given some cash by the elderly and their mother collects the money to save for them so as to get their necessity, that child will subconsciously learn the importance of saving and will save his money even in the absence of his parents. To my very own understanding financial literacy should be one of the fundamental knowledge passed down to kids irrespective of their age, gender and religion because a child who is financially literate is the responsible adult of tomorrow.

One Important time in my life i will never forget is when i made my first two thousand naira. I was working for one man that use to sale beer and other drinks to retailers. I worked as his mini delivery guy. The job was really stressful, but the thought of getting 2k per week kept me going. Back then, 2k should be around $5 or $6 but currently, 2k Naira is about 1.6 USD. Talk about inflation eating up a currency.

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Nowadays, children beginning to understand the value of money even before they reach 5. They understand that the value of money is based on its quantity, not how much a bill worth. Thats why a child will prefer two 100 Naira notes over One 1 thousand Naira note.

It is important, however, to teach help these children properly understand the good and bad of money before they begin to make major financial mistakes. So am urging every parent out there to groom their kids in such a way that they become financially literate which also applies to both the male and female child, both from rich and poor families because it grooms them to become who they will be tomorrow.

Thank you for reading.

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