Financial literacy for kids is about ensuring that your child is educated on the best way to manage finances. This is a way of securing their future. This is because they will be able to learn how to manage money in all possible ways. They make lessons on money management for children easy and also fun to learn.
Behavioural researches from Cambridge University encourage parents to start teaching their kids about money as young as 3. There are developmentally appropriate ways to help your kids begin to understand personal finance and credit cards at every stage of childhood. Money is good for nothing unless you know the value of it by experience. The figures have shown that the total debt on Pakistan is about PKR 50.5 trillion at the end of September 2021 an addition of PKR 20.7 trillion in the past 39 months. Pakistan’s per capita debt in 2020 was about PKR 200,000. Pakistan’s total external debt is projected to trend around 118500 USD million in 2022.
Young children can perform tasks to earn money for their spending plans. Children need to distinguish between shared responsibilities as members of a family and responsibilities that earn them money. This lesson introduces young children to activities and ideas for earning money. Children learn that money is a reward for working. Kids’ financial education is the need of the hour. It is very important to teach kids financial literacy to give them a bright and wealthy future.
ABDUL MAJID ASAD
FAISALABAD
