Why do Kids Need Personal, Life, and Social & Financial Skills? The Value of Financial Skills

Why do Kids Need Personal, Life, and Social & Financial Skills? The Value of Financial Skills

Being financially literate is a skill that most schools in the K-12 grade levels do not make a priority. When we speak of someone being financially literate, we are acknowledging their abilities in making effectively informed decisions about the use of money. Why do children need to have this skill? Isn’t this one of the many responsibilities assigned to their parent(s)? Actually, financial education is important for a child to know, because of their parent’s role as primary financier for the family. If children understand the value of money, as well as how hard it is to earn, they will respect their parents and understand the need for budgeting. When your child learns about finances, they learn about earning, spending and saving money.

According to Government statistics the amount people are saving is very low; and it has not been this low since the Great Depression over seven decades ago. One in every third person has absolutely no form of retirement money saved. With statistics such as these, it is time we start educating our children now—at an early age—about the value of money and the importance of saving for the future.

The Value of Having Personal, Life and Social Skills

It is important to have good social skills be having these skills will help in every aspect of your life. When you teach your child the skills needed to go out in the world and succeed you are giving them an advantage that will be used every day of their lives. Here is a list of the advantages of good social skills:

  • Social skills are needed when setting goals.
  • Social skills are intertwined in such a way that one may use different behaviours to reach the same goal.
  • Socials skills need to be appropriately matched to each life conversation; there are different skills needed for professional and private communication.
  • Social skills are identified by different types of communication levels; in which judging a person on how socially skilled they are.
    Social skills can be taught, practised, and learned.
  • Social skills should be taught under the cognitive skills of the individual. When one learns a new skill they learn when and how they must be used.

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