Let us talk about financial education


#1

Recently, a Washington Post author called for action to tear away textbooks as they are passe and how it was time for experimental and experiential learning. The writer also based many of his examples on the book called Principles of Macroeconomics written by Prof Mankiw. This professor then, on his blogpost called this out and remarked that it would be ignorant to think that the time for textbooks has passed. He seemed to set much store by textbooks. Not only because he is a textbook author but also because he seemed to believe in the canonical nature of textbooks.

This got me thinking about finances. In my time, nobody used to really prepare us to be adults visavis finances- personal or familial. Has that changed? are kids nowadays more equipped to lead a fulfilling life with a financial education?


#2

Kids have the ability to access information at such a greater scale than 20 or 30 years ago. Anyone with an internet connection can learn about anything. It doesn’t mean they will, but it does mean they don’t solely rely on what is taught to them, merely what is introduced to them. I don’t think textbooks will go anywhere but maybe they’re more a conduit to the information and offer access in a digital form to not only the text, but to videos, photos, all forms of media to expand the learning and understanding.


#3

Thanks @TacticalFinancials i tend to agree. The digital sources still need curation and some guidance for kids will only help them. Thanks for sharing your thoughts on this.


#4

I think that financial education mostly depends on the parents. Kids copy us in many and they do so when learning about the money. Yes, we haven’t had access to information as the modern generation has and we haven’t had long discussions with our parents about how to manage money, but we’ve learned silently. Our financial habits were mostly copied from our parents.

Though our kids have access to information, I don’t think that a kid of 7-15 years or even older will search for money management tips. Here again, everything depends on the parents, who teach them through personal example, games and other activities.