EngagingTeens Interest in Financial Literacy

This is just the beginning of year 2007, what are the plans you have for your kids that you can educate them about financial literacy?

Times are now different as parents are shaking their heads at the differences between themselves and the children which we called generations! The generation gap is fast becoming a generation lap as our kids or maybe our grandchildren overtake us in the information they have at their fingertips.

The processing skills, especially using the internet, are one key element that sets us apart, sometimes the differences between adults and kids are rarely radical as you think.

A teen faces many of the same dilemmas as us in making their own financial decisions and consumer decisions based on research.

As parents we need to recognize the learning process of each child so that we can work on them individually. Each of our children is unique. I have some learning strategy that I always remember which I am sure some of you have learnt but didn’t apply it to their lives. We can take these principles to help our children to engage their interest in financial literacy.

The guru I am talking about is none other than Dale Carnegie. I got these principles from his bestseller “How to win friends and influence people”. Below are the principles I gather that help to engage or re-engage teens in the interest of financial literacy

1. Don’t criticize, condemn or complain. Criticism to a teen that is learning a new concept will always boomerang back, because a child switches to a defense mode instead of staying open to new ideas. So avoid criticism, condemnation and complaints wherever possible when teaching financial principles to your children

2. Give honest, sincere appreciation. Reward correct decisions of financial behaviour (especially the small achievements in the case of beginner) by giving honest, sincere appreciation whenever it’s warranted. At the same time keep an open eye to help discourage bad habits from forming. This fundamental principle can be used for training everything.

3. Arouse the teens an eager to learn. Don’t force any finance idea down your children throats. Much better to back off if you experience problems and let them discover ideas for themselves by:-

a) putting them in positions where they need to handle cash or make purchasing decisions as regular as possible

b) leaving book marked books or open newspaper with useful information lying around where they likely to find them

What do you think of the above principles? I will share with you the other 3 principles in my next blog.

Till next time. Happy engaging your time with your teens

Christina

http://www.realsmarteens.com/