Start Financial Literacy at an Early Age

Very often, I hear too many people ask, ‘when is the right age?’ When do we start talking about the financial stuff? The financial stuff isn’t necessarily the bottom line, but the concept of understanding financial literacy. I can give an example in our family; in one of our first family meetings, actually it wasn’t one of the first, but as we progressed with our family meetings with the grandchildren, my Father had given them each a cheque. So, the youngest was my daughter, and she received a cheque to understand what is a cheque? At the age of 10 or 12, whatever it was, how often does a ten or twelve-year-old actually have a cheque on their hand. So, that financial literacy starts at a very early age, or could start at a very early age, so they understand what a cheque is, what a bank account is, what does it mean to get interest in a bank account, what does compounding mean, how does the growth of wealth happen? All of a sudden you are starting that conversation.