Financial Literacy for Kids 1- Financial Education- Banks and Finance

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The word bank is always related to the adults, but why don’t we educate the kids about the financial side and make them able to understand the difference between the current account and the savings account, and let them be more literate when it comes to finance. Taking the first step in the ladder of financial literacy for kids is the most important one and this will let them know more details about the ones following. Before teaching your child more about banks and the types of accounts there is, it is important to teach him/her to save money and share your thoughts about why such a thing you consider beneficial. Saving money is an idea that kids should consider because they have to understand that sometimes they will never be able to get what they want unless they save money for it. The problem is that some kids like the idea of saving their money on their own without using the help of anybody and that might lead to them forgetting the secret hiding place which they kept their money in.

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