Importance of money and its management is something that children can understand at an early age. But it may not be something that seems interesting to them. “In my experience, I haven’t seen many parents consciously set about teaching their children how to deal with money. Our children are growing up in an extremely aggressive consumer society where they are targeted as consumers from the time they are toddlers. So, it is important to teach children the way money works,” said Abha Adams, owner of Abha Adams School Development Consultants, a Delhi-based education consultancy.
“Students in their last two years in school must understand the concept of financial planning—what is life insurance, difference between savings bank accounts, fixed deposits, and even how to maximise their savings,” she added.
