Starting them younger, so they can practice the values taught to them, which will benefit them in the futures, to keep them from repeating the cycle of poverty they were, born into, from the Newspapers, translated…
Last summer, the Wufeng Elementary School from Hsinchu came to Taipei to attend the “Children’s Financial Planner’s Summer Camp”, that, was when the teachers were shocked to realize, that the kids not only didn’t have any beliefs about money, they’d not even learned to how to use a calculator. The social worker working on the front line told, that a lot of the families in the distant regions are “holding their young hostage, to get the social services department to give them handouts”, threatened, that if the monetary assistances don’t come, then, the parents are going to commit suicide, taking their young children along with them, causing the families to get sucked into the vicious cycle of poverty.
And, many of the social welfare organizations started handing out money to these families, “Giving them the fish, but NOT taught them the techniques to catch the fishes themselves”. The social workers pointed out, that the families from the lower income normally didn’t have high enough levels of education, with a low social status, spending up all the earnings by the month became a normal way of life for them; the government agencies had hoped these families can help themselves stand back up, but, the realities became that a lot of people believed, that losing their low-income statuses, they’d not be able to receive the government assistance, and thus, the cycle of poverty continues again, and again, causing the generations that came after the current, to get, trapped in poverty too.
teaching children to save money at a younger age, not my photograph…
The principal for Wufeng Elementary School Yeh from Hsinchu said, that the natives had, instilled the values of sharing everything, they’d NOT had the financial senses in the families, or in the education of their own young, and, whenever the kids got the extra allowances, they’d, spent it all; in the 2016 Rich Children Financial Awareness Camp”, the children started learning to use their own bus cards, and started recording every single instance they’d spent the money, and, they were shocked, by how they spent every single last dollar by the end of the month, and that they’d lacked, the right values of saving up.
Yeh stated, that there would be similar courses that will be taught at the school, so the children can “bring the money home”, helping to change the younger generations’ view about money, hoping, that by this, the kids can influence their parents, to alter their views on spending too.
So, this, is a good program, that teaches school aged children the importance of savings, because, the children are caught in this vicious cycle of spending up all the money, and coming up emptyhanded, and, the school hopes to change that, by educating the younger generations about the ways of financial planning, and hopefully, the children will take the values they’d learned from the courses home, and the parents can get influenced to change their views about money as well.