financial education

Financial education. How it develops in each stage of life

You can think of financial education as learned in high school or college; but the truth is something that has been learned since we are children. Therefore, we want to explain to you what are the different stages of financial education ; and how they can develop stereotypes in the future.

How can you help children become aware of their financial education?

So that you can introduce the economy to your children, it is convenient that you adapt it to their tastes and needs. A good way to do it is for them to become economically aware of everything they ask for, such as toys. For this, when they ask us for a toy , we can sometimes accept. But others, it is convenient to tell them that it is time for them to pay for themselves some whims. Thus, little by little they will save and have a more accurate conception of what things cost .

Later, as they grow, they can become involved in other more complex financial activities . For example, shopping at the supermarket or the economic organization of a trip that you are going to do as a family.

Different stages of financial life

The first stage of economic life begins from birth and goes towards adulthood; it is formative. In it, the importance of saving and responsible consumption must be stressed. The next is generally from 19 to 30 years, when people become financially independent from their parents. Here, they do not accumulate large savings, but they do become aware of this and subsist without outside help.

The third stage goes from 31 to 45, along with professional growth. Little by little it leads to increasing the assets, the formation of families and the planning of what to buy a house and where to invest.

As you know, these stages are variable and depend on each person; the fourth is estimated between 46 and 55. Here there is a professional consolidation. Thus, purchases such as the car, the house and other goods are finalized. The search for how to generate assets for retirement also begins.

The fifth stage runs from 56 to 65 years old and you will hear that we refer to it as consolidation . In theory, at this stage, families have everything they need, and begin to acquire other not so basic goods.

Finally, there is the retirement stage from the age of 65 . Then, the savings of a lifetime are managed and it is observed whether the decisions have been correct or not.

The sooner financial education begins, the better

In short, financial education should concern us from an early age. Therefore, we want to encourage you to teach these concepts to your children or students. It is not necessary to go to the institute or university to start this training. Developing financial habits at an early age will help you have greater responsibility for money and the value of everything.

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