Financial literacy is a crucial life skill that empowers individuals to make informed decisions about their finances. It encompasses a wide range of knowledge and skills, including budgeting, saving, investing, and managing debt. Teaching children about money at an early age lays the foundation for their future financial well-being.
There are numerous benefits to teaching children about money. It helps them understand the value of money, make responsible spending decisions, and develop good saving habits. Furthermore, it fosters a sense of independence and responsibility, as children learn to manage their own finances.