What is the value of money for kids

Rajesh is a college student now. He saw his mother He gets monthly expenses from his parents but every month he asks for additional money from his friends. Now his friends have started avoiding him as he keeps on asking money.

He found a quick solution to this problem and applied for a credit card. Now every month he is under credit card debt. He is finding it difficult to pay off credit card dues.

He found another solution to this problem. He took an easy personal loan. He wanted credit card away from his back so badly that he didn't realize that money interest payment of his new loan is even more than his monthly expenses received from his parents.

Rajesh had no idea of managing money and he learned it the hard way. He never prepared a monthly budget and never thought about managing expenses in a limited budget.

This is a typical example of letting our kids go into the real world with any training in managing their finances. From the age of 3 to 17 we study in school, but we are never taught this critical life skill.

Making kids realize the value of money and helping them in developing money management skills is one of the most critical tasks that should be done in budding years.

Cerebro Kids Finance Learners program helps kids of class 5-8 in developing critical life skills in money management. Check out our Finance Learners page for more details.

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Shruti Goel

Graduate, IIT Roorkee
Shruti Goel is an IIT Roorkee graduate with multiple years of experience in finance domain. She is a strong proponent of finance literacy programs for kids. She loves cooking and painting in her free time.