One of the things that is sadly NOT taught very much in school is money and financial literacy.
We learn and relearn bad habits from the media and society and before we know it, our children are grown and out of the house and they are mature in other areas of their lives but when it pertains to finance and money they are still children even when they are grown and working and (God forbid!) married.
Good money management is an essential skill and requires discipline maturity and awareness.
When your child is comfortable with money management then they are able to avoid the pressures of society and make smart decisions when it comes to spending, saving and investing.
When you teach your child about money, it is not simply about numbers and dollars and pounds.
You are teaching them:
- to plan ahead for the future.
- to learn the relationship between work and Money.
- to be generous.
- to be content.
- to be a good steward.
- to delay gratification.
- You are teaching them about the right relationship to money – So that instead of being afraid of money matters they can put money in its proper place in their mindset and realise that money is a tool.
I am no financial expert but I know that parents should always be on hand to fill the gaps that are not covered by the educational system.
This is why I was especially thrilled to discover the BMoneyWize game.
The BMoneyWize Money Game presents a fun, engaging and interactive way to introduce new ideas and change money habits, enhance exam results in the mentioned subjects also equip children with leadership and decision making skills. Game features real life scenarios that encourage calculations, discussions and reasoning.
When I met the inventor of this game, had a demo on how to play it…..I couldn’t resist inviting her to share it with my children at church Sunday school.
In fact, we even organised a church service where all we did was play the game.
Playing the BMoneywize game can be a great family activity as seen here at Dagenham library where we had groups of families playing together. We play the game at home too. It’s very engaging, fun and interactive.
As you all know, I’m passionate about helping parents raise well balanced, successful children, I am going to be having Dr Arinola Araba on one of our master classes to talk about this game, how it not only just helps improve our children’s maths skills, but also introduces them to money matters – how to save, pay utility bills and be money wise.
As parents, I firmly believe we should always be vigilant to counteract the negative messages our children are bombarded with by the media and their peers. Financial literacy helps with maths skills but goes beyond that to give our children valuable life skills.
I highly recommend the BMoneyWize game as a good starting point and I will also share other resources as I come across them from time to time.