Every child should know basic financial management

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“It’s not that I’m so smart, it’s just that I stay with problems longer.”

– Albert Einstein

Our kids can take a test and memorize facts, but would they know how to save some amount from their pocket money? Do they know about basic financial management?

Now in this modern, updated and fast-moving world, it is very important to teach our kids some most essential life skills. I have been highlighting the six core skills in my blogs. Critical thinking and problem-solving is one of the most essential skills.

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“You were born to win, but to be a winner, you must plan to win, prepare to win, and expect to win.”

– Zig Ziglar

Students lack a basic understanding of general financial concepts related to stocks, bonds, savings accounts and checking accounts, according to a survey from the National Jump$tart Coalition for Personal Financial Literacy. 

We need to encourage children to learn basic financial skills, which is a life skill as well. We must give our children an exposure the practical life. Critical thinking skill can be really beneficial for our children to sharpen all the essential skills they need, to survive in the 21st century.

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But what is Critical Thinking?

Critical thinking is the ability to think clearly and rationally, understanding the logical connection between ideas. 

Discipline expert Amy Morin recommends teaching children problem-solving skills by:

  • Identifying the problem and talking about it
  • Coming up with ideas for possible solutions
  • Listing the possible benefits or consequences of each approach
  • Being decisive and taking action
  • Allowing them to experience any fallout or negative consequences of their decision (as long as they are safe)

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Someone with critical thinking skills can:

  • Understand the links between ideas.
  • Determine the importance and relevance of arguments and ideas.
  • Recognize, build and appraise arguments.
  • Identify inconsistencies and errors in reasoning.
  • Approach problems in a consistent and systematic way.
  • Reflect on the justification of their own assumptions, beliefs, and values.
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By teaching kids about money, we help them discover the relationships of earning to spending and saving. 

The way to get started is to quit talking and begin doing.

– Walt Disney

Published by pinguspk

Pingu’s English School has been built on the expertise of Linguaphone Group and it’s available in 21 countries. Pingu’s English School has been launched in Pakistan in 2014 which is a Playgroup to O Level program. Pingu’s English School & Eureka School System offers a challenging international education, in every single area; to children our mission is to provide an outstanding education in a safe and caring international environment, inspiring all our students to reach their true potential and to act as responsible participants in a global society. We are committed to give every student the best learning experience to achieve academic excellence and to inspire them to become global leaders in their chosen field Our curriculum is designed to provide endless opportunities to a child to develop his personality. Child is given a numerous ways to excel in language, Math, Science, Geography, IT and Communication. The curriculum is so balanced that a child never feels tired or blank at any time during school hours. All we do is to create sense of appreciation for what they are learning. Our curriculum is full of life and has practical application along with lots of activities and sports. The unique syllabus uses a wide variety of imaginative activities and multimedia resources to keep the pace of classes lively and interesting. Whether children respond best to learning through pictures, songs, stories, games or making things, Pingu’s English School and Eureka School helps find the learning style that suits them best.

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