In this post, let’s talk about the importance of formal financial lessons.
Informal financial lessons from parents
As a child, I accidentally learned a lot of financial lessons from my parents.
For example, they taught me to value money and not to simply spend them on unnecessary stuff.
Then, they taught me to manage and control money and not to let money control me. They also taught me to prepare an emergency fund in case I suddenly need the cash.
Though these are not formal lessons, these lessons do greatly affect my views and perception of money as I grew up. I am really thankful to my parents for all these accidental financial lessons.
My parents also taught me – money is not everything but, we can’t live on without money in this modern world.
Can you go on a day without spending a single cent? How about a week? Or a month? Unless you are living on an isolated island or some remote place, you can’t go on a week without the need to spend some money.
It’s true, we can’t live on without money.
Why no formal financial lessons?
But, have you ever wonder why we never have formal financial lessons during our school days (at least in Malaysia)? These financial lessons can provide a brief idea of the importance of proper financial management in their life.
Perhaps these lessons can create awareness in the students to prepare their education funds for their college years. These lessons can also teach them to manage their finance properly when they started their working years.
Perhaps fewer people will need to borrow from loan-shark or fall into heavy debts. One will also be able to plan and prepare for their own retirement earlier.
I foresee a lot of benefits from financial lessons.
Final thoughts
I really hope our future children will be able to have formal financial lessons in their classroom and to learn the importance of formal financial lessons.
Along the way, let us show lead our children by adopting good and healthy financial habits.
Simply because all our actions greatly impact their future.
