Center socialization 15+ (boys)MentoringNews

For teens, about money and financial literacy

What can you teach children about money?

To them, the words “financial literacy” sound like something from far away, from the world of big business.

Therefore, we help them to realize: if they don’t understand this concept, and don’t practice it in their everyday lives, they will always remain poor and live permanently in debt.

From the first days at 15+ Centre for Socialization, financial literacy is the main area of training, practice and isan integral part of life for all students.

The main purpose of this is to overcome the consumer way of thinking, because, if you are trained to know the price of things and that you have to pay for everything, then you have a responsible and rational attitude towards them. You understand that every notebook, every piece of soap and every top up of your mobile phonecosts some money.

When our students receive some money as a scholarship, studying in the UPU, or earn some in their free time, they learn the following basic practical things:

  • Plan your own expenses: spread outyour budget wisely as it is important to see your own expenses/outgoings,
  • Identify priorities in your expenses, pay attention to how you execute/follow your budget,
  • Discipline your own desires. You will always want to get something straight away. Do not let your emotions control you,
  • Rely on what you have and save for what youwish to get,
  • Until you become more experienced and knowledgeable about different loans, don’t take a loan, it is better to save for the desired purchase and then own it freely,
  • Single out what is really necessary from the huge variety of things you mightn’t need, as advertisements will try to assure you that you need a lot of things, but, in fact, there are only a few that you really need,
  • Save and invest in the future: this is the hardest skill of all. Though,having mastered it, you will become financially independent, and, therefore, useful to society.

 

There is one more thing that we constantlyrepeat to the children in our care

– money is just an instrument. Our attitude towardsit, our answer to the question – “What is it for?” will turn money into good and our response to the needs of mankind, or destroy ourselves and the world.