Gaining Financial Literacy Is For All

Gaining little or good knowledge of managing finance is an important tool that every human is supposed to gain, though it happens that some individuals possess this skill and know how to apply it more than others. In my country we are in the big mess we are in today because the people managing our finances have little or no technical knowledge of how to manage finances.

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If a person who doesn't know how to handle just hundreds is given some thousands, his head will be turned, and due to overexcitement beforehand, he will blow it off. Imagine from year to year what we keep hearing from our leaders is planning to borrow money from tons of dollars now in pounds, the purpose of which is to pay pensioners and more.

This topic we are considering today is a vital one, and I will do my best to give it my best shot with my limited time. You know I am a new mom, so the boy is sleeping, so that's why I have a little focus this morning. To the best of my knowledge, I was allowed to make some financial decisions from the moment I entered college because from my first year in secondary school to my sixth year, I lived in the boarding house. So my mother will give me some cash, which serves as my pocket money. There in school, we are not allowed to go home unless it's midterm or you are not feeling well. Then, once a month we are visited by our parents or guidance.

Coming from a home that wasn't so stable financially, it wasn't a choice to be made on whether to manage my finances or not. In school, I was so careful and even returned home with some extras. Every food we were served in school, I ate all of it, as beans was my favorite. Any day we would be eating beans in the morning was my best day because many girls didn't like eating beans.
So I will even have some extra beans to eat during break. Well, that I was exposed to managing my finances so early didn't make me a super person because I will say, conditions made me manage without choice.

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Before I could start putting my needs before my wants was when I got to the higher institution because then I had more money to myself, and I had to prepare my own meal, pay my school fees, and even other things too. In fact, I did almost everything for myself. The journey to independence wasn't so easy for me because if I was told that adulthood was a big work, I would have decided to be a child for a longer time, though it was a choice for me to make, sha.

Talking about getting my feet wet in financial management Well, in truth, to date I am still learning because we are a work in progress. As I got married and the family is increasing, I have to readjust myself and even let go of some of my basic needs just to meet the needs of the kids and the family at large. Financial literacy should be taught to children little by little the moment the child starts school.

Now my son is in Nursery Three and is preparing to enter into primary school. Some terms back he came home and demanded that I give him money to buy things in school because his classmates are coming to school with money. Now, I told our dad that we need to be more careful as we teach him how to manage finances. He agreed, and I began to teach him about finances.

This topic is more practical than theoretical because, as a mom now, I can relate to some things that happened during my childhood. I do tell my kids that it's not every time one needs to spend, and I place their needs first before wants. Praying for provision is what I also do with them. Though the impact may not go so well now, as time progresses, I believe the understanding will be more.

As my kids grow, my plan is to teach them how to save and the importance of having some savings, also the need to put their needs before their wants. This will in no small way open them up to what they need to know when it comes to managing finances and how to do so. Some kids who are not properly monitored when it comes to finance most times end up stealing from their parents. Sometimes some parents don't look at this aspect properly, so they give their kids money as little as three years to buy things in school. One of the days I gave my son money after much pressure, and I instructed him to give the cashier the money so as to help buy the things they needed in school.

Trying to check his obedience level, I called his cashier and asked if he came to her, and she said no. When we got back, I questioned him, and he apologized. After a while I repeated the same action, and he did the correct thing. So if we continue in this line, he will get to learn so well and also gain mastery of financial management.

Thank you for staying with me.