Financial Literacy Has No Age Limits Michael Doyin OLANREWAJU (Class 2)
Thursday 19 Dec 2019

The Psychology responsible for making your children financially Successful when they grow up.

In Nigeria a lot of parents attempt to keep their children in the dark about the challenges they face in making money. Not only do majority of Nigerian parents hide their financial challenges from their children, they also fail to share their financial successes.

One of the most common statements that parents make when discussing financial Issues is "THIS CONVERSATION IS NOT FOR CHILDREN".

With that in mind according to a BBC report, children as young as five years old have shown an increase in depression and anxiety stemming from their parents financial problems. This means that even when you’re covering their ears, they hear you loud and clear, and your actions or inaction will ultimately affect how they turn out financially.

There is a two step approach to giving children a mind that secures their financial success in the future;

·        Talk to your children about money:

Explain the concept of budgeting, saving, and investing to them.

·        Every year or as often as possible invest for your children:

This is a great start to helping your child cultivate a good investment habit. Feel like you don’t have the funds? Here’s a handy trick for you: Take the monetary gift from aunties and uncles, constantly going to your children during visits and special events like birthdays and graduation parties, and put them to work by investing as soon as you get them.

The future belongs to those who invest in tomorrow, today.

I hope this article will help you change your mindset to always invest in little children.

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Gbenle Mubarak
Dec 19, 2019

Wow. I enjoyed this, it not only going to guide my children but I gotta implement the tricks mentioned on myself first. Thanks.

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