Introducing investing basics to kids
Understanding money and being financially literate are important for everyone. Teaching your kids from an early age about money and investing can empower them to better navigate the complexities of the financial world to achieve financial success and freedom.
Here’s how parents can break down investing for young people.
- Talk to your kids about money
Talk about money openly, honestly and often. Understanding that money is something fluid that can be made and lost will help shape their relationship with money. You want them to understand that money is a tool and that they can have a positive mindset towards it.
Knowing that they have control over their money story gives them a good financial footing to thrive and take advantage of investing. It also helps provide a solid foundation for their continued financial literacy.
- Keep it simple and relatable
You don’t have to cover all the complicated lingo at once, but starting with the basics will help them become comfortable with the concept and then be able to build on it.
- Help them understand the landscape
Explain some of the key elements of investing in an age-appropriate and kid-relevant way. Here are some examples:
Disclaimer: This article is solely intended for information. It does not constitute financial, tax or investment advice or recommendation. Please speak to a financial advisor or registered financial professional before making any financial decision(s).
Standard Bank, its subsidiaries or holding company, or any subsidiary of the holding company and all of its subsidiaries make no warranties or representations (implied or otherwise) as to the accuracy, completeness or fitness for purpose of the information provided in this article or that it is free from errors or omissions.
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