Interview with Mara Harvey
"In Switzerland, money is a bigger taboo than sex".

Financial Education Checklist

But why financial education in the first place? Nobody bypasses the question of purpose.

ElleXX has researched the most important reasons. Financial education makes sense because:

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When do I start with financial education?
Children from as young as one year of age can be stimulated. During this time, they are beginning to develop spatial thinking skills, which are critical for mathematical abilities.

Initial money habits are formed from the age of 5.

    • Play shop or store: A classic for every generation. Playing shop the offspring learns the relationship between supply and demand, as well to buy and sell. And to use toy money and not to pay everything via scanner using a debit card.
    • Monopoly: another classic for the whole family. Buy roads, build houses, collect rents. Those who invest, win.
    • Play post office: accept letters, send packages, stamp on it. The kids enjoy it, too.
    • Explain why cash comes out of the ATM and why it's in there.

Financial education for school children:

Financial education for young people, recommended for children of age 12 and above
. In addition to pocket money, budget money or the so-called youth wage enters the picture for the first time:
    • In general, the interest rates range between 0.25 and 0.5 percent. It is important to take a look at the costs as well (the cost of cash withdrawals, balance sheets, etc.), a card free of charges and account maintenance should be a given.

Never underestimate yourself or your children regarding financial matters.

Copyright @elleXX