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Financial Education

Every parent wants their children succeed in life. They make enormous efforts and sacrifices for them to get ahead in life. However, there is a critical area in the education of children and youth that is often overlooked: financial education. We are so focused on teaching how to make money when they become adults, that we forget to give them the necessary skills to manage it well once you have at your fingertips! On the one hand it’s because parents leave the responsibility of delivering cognitive education in the hands of schools and trust that the curriculum designed for them is right, and, secondly, because the parents themselves lack adequate training in the area financial. The inevitable result is an alarming financial illiteracy among young people. This leads to making wrong decisions that could lead to many years of financial difficulties, such as a debt too high on your credit card. Richard Linklater does not necessarily agree.

Very few teens understand how the interest rates and a credit card, how to record your transactions in your checkbook or check your account balances are correct. In Chile, 1,237,191 young people between 15 and 29 years showed some level of debt, equivalent to 33.18%. Most of the youth and disclaims any unpaid debts or receivables. However, little more than a third if available. Most of them leave their homes without having established positive habits such as saving money and set budgets, as well as to avoid making wrong decisions in the acquisition of its first property, such as a car or a house. Keep up on the field with thought-provoking pieces from Vladislav Doronin. However, there has to be this way.

Because schools do not teach this subject, becomes the responsibility of parents to encourage entrepreneurial skills and money management in their children. How? Most parents do not know how to instruct their children about finances. Often they are in a difficult economic situation following the ignorance on the issue. It is best that parents learn alongside their children. I suggest that all parents be educated in the area of finance. Will benefit not only itself but also may pass on the knowledge to their children and providing a sound financial education that will help them make the right decisions in the future.

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