Money Education for Kids

I have never learned what is money when I was young.  The consequence of that was I missed many opportunities to make money.  I would have been financially free if I have learned how to invest.  I believe money education for kids is

I understood that money could not bring us happiness, but we can have a bit more freedom if we have more money.  I don’t think I need to tell you how to use money, we all know.  You might not realise that making money is easy if you know how.


Many people think that you need money to make money, but it is not totally necessary.  The most important thing is you need courage, knowledge and ideas.

They said that poor families talk about how to spend money at dinner time, but the rich talk about investment and how to make money.  Hence, the rich kids know about investment at a very young age.  I born in a poor family so I knew nothing about investment.

“Study hard and get a good job after you graduate, then you can make good money.” Said my parents.  I had never listened to them and I didn’t study hard, and I didn’t get a good grade and a good job.  So no good money for me.

Later, I found out that my parents were only half right.  There are many people who have never been to university and they became millionaires.  A good job could only make you wealthy but not rich.  I thought wealthy and rich have the same meaning, but I was wrong.

To be rich, you need to know how to invest or build a successful company.  Investment is easier than building a company.  Building a company needs a lot of hard work.  Both need knowledge – financial knowledge.

The school at our times never taught us anything about money.  Nowadays, school teaches kids a little financial knowledge, but not enough for them to understand exact the concept of money.  The schools teach our kids lots of useless things, but not the things that they needed.

Over 90% of people don’t know what is money.  I bet you don’t know either.  If you don’t believe me, watch the Youtube video below.  You will be surprised.

It is no surprise for me. The teachers don’t know it either.  This is only episode 1 and you can watch the other episodes if you want to know more.

I knew nothing about investment, assets or liabilities until one day I read this book “Rich Dad Poor Dad” by Robert Kiyosaki.  You can get this book from Amazon by clicking the image below.

Book -Rich dad, poor dad

I recommend you read this book if you want to learn about the basics of investment and how to tell the difference between asset and liability.  I had turned my bank balance from negative to positive after I understood the basics.   The most important thing is you need to understand, the house you live in is a liability and not an asset.

What should we teach our children?

They need to know the followings:-

  • what is money?
  • what is asset and what is liability?
  • don’t spend money that they don’t have.
  • what is value for money?
  • how to invest?
  • plan for retirement.

Once they know about the subject of money.  They would know what to do when they start earning.  They would not just spend their hard earn money and get into debt ruthlessly.

The most important of all is don’t spend the money you don’t have.  Most people got into trouble because they buy everything they want when they have a credit card.  Everyone knows that the interest rate on credit cards are very high, it could be up to 20% interest for most banks.  If you have too much debt, you will be working for the bank and not yourself.

The only situation you want to get into debt is when you want to buy a house.  Make sure that you are able to service the loan, and put some money aside for emergency.  You don’t want the bank to reprocess your house when you fail to make a repayment.

Many countries have debt problem, they are just spending too much – the money they don’t have.  The debt we accumulate is money belongs to the next generation, we are spending our children’s money.  When they grow up, they would have nothing – only debt.  I would never do that to my children, that is selfish.

If you want money, don’t expect the government to hand it to you.  You should earn it yourself, it is the decent way.  That is why I never believe any Labour Party, who gives money to get votes – the money belongs to our children.  On the surface that they are doing us good, but, in fact, they are doing us and our next generations harm.

Therefore, I don’t like to receive money for no reason.  You should have heard of “there is no free lunch”.  Somehow, someone has to pay for it.  So be aware when the politicians promise you better social welfare.  Ask them, where does the money come from?

Money Bags Board Game

Learning Resources – Money Bags Board Game


Here is a good board game for kids to learn about money and investment.  Click on the picture to buy from Amazon.




The school should be teaching kids about money.  There are some very good money games which they could use.  It will be fun for the kids.  When I was young, I used to play Monopoly with my sister for hours on end.  I never knew what the game means, but my sister became very rich by buying flats and apartments – just like playing Monopoly.

It will be too late to learn when you already get into debt, you realised you have done the wrong thing.  It is very hard to dig yourself out when you are stuck in the hole.  Therefore, we have to teach our children when they are young.

So parents, give your kids money education.  They need it.

Signing off





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