Financial literacy is rooted in the family, making it essential to start the journey of transforming the financial industry within our own households.
Parents are the most significant influence on their children, shaping their perspectives on life, including their views on money. Research shows that financial habits begin forming as early as age three, and by age seven, these attitudes are largely set.
Think back to your early years—between ages three and seven. While you might not consciously remember much, those experiences left lasting impressions:
You observed whether your parents were frugal or carefree with money.
You noticed if they argued about finances.
You remember how your requests for purchases were received.
Unfortunately, many people are dissatisfied with the financial education they received growing up. Studies indicate that 83% of parents wish they had learned more about money in their youth. While they strive to avoid repeating their parents’ mistakes, there’s a challenge: Do families truly understand how money works?
It’s doubtful. A 2020 global survey revealed that only 15% of young adults are financially literate, meaning 85% of parents are at risk of perpetuating financial misunderstandings.
Learning to manage money and build wealth is crucial not only for parents but also for their children. When parents become financially educated, they equip their children to do the same, fostering financial security for generations. Moreover, families that learn about money together can overcome emotional hurdles and strengthen their bonds.
Financial education is at the heart of our mission. When families understand how money works, they’re less likely to be taken advantage of and more likely to make decisions that secure their futures. Consider making a change—start your journey today.
Click here to start your journey to financial freedom.
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