{"id":13294,"date":"2023-11-11T12:10:54","date_gmt":"2023-11-11T04:10:54","guid":{"rendered":"https:\/\/www.skhkckg.edu.hk\/?p=13294"},"modified":"2023-11-11T12:11:14","modified_gmt":"2023-11-11T04:11:14","slug":"western-childrens-financial-awareness-education","status":"publish","type":"post","link":"https:\/\/www.skhkckg.edu.hk\/en\/western-childrens-financial-awareness-education\/","title":{"rendered":"Western children&#8217;s financial awareness education"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"13294\" class=\"elementor elementor-13294\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-913e63a elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"913e63a\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-f574c4e\" data-id=\"f574c4e\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-6dac359 elementor-widget elementor-widget-text-editor\" data-id=\"6dac359\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">Written by: Johnny Kwan, Curriculum Director of the International Gifted and Talented Development Education Institute<\/span><\/p>\n<p><\/p>\n<p><span style=\"font-weight: 400;\">Education experts in the West believe that children should start learning financial knowledge from the age of 3 and have developed educational plans for various age groups, which can be referenced by Hong Kong parents.<\/span><\/p>\n<p><\/p>\n<p><span style=\"font-weight: 400;\">Age 3: Recognize coins, understand their values, and differentiate between paper money and coins.<\/span><\/p>\n<p><\/p>\n<p><span style=\"font-weight: 400;\">Age 4: Learn to use money to buy simple items like crayons, small toys, and snacks. It&#8217;s best for parents to be present when making purchases to prevent businesses from taking advantage of children.<\/span><\/p>\n<p><\/p>\n<p><span style=\"font-weight: 400;\">Age 5: Understand that money is earned through labor and engage in basic monetary transactions.<\/span><\/p>\n<p><\/p>\n<p><span style=\"font-weight: 400;\">Age 6: Can count larger sums of money and begin learning about saving, fostering a sense of &#8216;my own money.&#8217;<\/span><\/p>\n<p><\/p>\n<p><span style=\"font-weight: 400;\">Age 7: Can look at product price tags and compare them with their money to determine their purchasing power.<\/span><\/p>\n<p><span style=\"font-size: inherit; text-align: inherit; color: var( --e-global-color-text ); font-family: var( --e-global-typography-text-font-family ),  Microsoft JhengHei; letter-spacing: -0.015em;\">Age 8: Understand how to open a bank account and save money, as well as find ways to earn pocket money, such as selling newspapers.<\/span><br><\/p>\n<p><\/p>\n<p><span style=\"font-weight: 400;\">Age 9: Can create their own budget plan and grasp the concept of buying and selling.<\/span><\/p>\n<p><\/p>\n<p><span style=\"font-weight: 400;\">Age 10: Knows how to save and spend their allowance wisely, including buying more expensive items when necessary, such as rollerblades and scooters.<\/span><\/p>\n<p><\/p>\n<p><span style=\"font-weight: 400;\">Age 11: Learn to evaluate commercial advertisements, identify value-for-money products, and understand the concepts of discounts and promotions.<\/span><\/p>\n<p><\/p>\n<p><span style=\"font-weight: 400;\">Age 12: Understand the value of money, recognizing that it is hard-earned and develop a sense of thrift.&#8221;<\/span><\/p>\n<p><span style=\"font-size: inherit; text-align: inherit; color: var( --e-global-color-text ); font-family: var( --e-global-typography-text-font-family ),  Microsoft JhengHei; letter-spacing: -0.015em;\">After the age of 12, children can fully participate in adult society&#8217;s business activities, such as financial management and transactions.<\/span><br><\/p>\n<p><\/p>\n<p><span style=\"font-weight: 400;\">From the above plan, it is clear that Western societies place a strong emphasis on children&#8217;s financial awareness education, which is related to the developed consumer economy in Western countries. From this, we can draw several insights:<\/span><\/p>\n<p><\/p>\n<p><span style=\"font-weight: 400;\">Money is integral to daily life: Children&#8217;s interest in money develops earlier than their understanding of many other things. A few trips to the shopping mall with parents are often enough to firmly establish the concept of money&#8217;s utility in a child&#8217;s mind.<\/span><\/p>\n<p><\/p>\n<p><span style=\"font-weight: 400;\">The close relationship between money knowledge and character education: When children understand that money should be earned through labor, they develop a sense of valuing and sharing money, which leads to saving and prevents wastefulness. In Hong Kong, many students show no appreciation for money and engage in reckless spending, a phenomenon closely related to the lack of financial education.<\/span><\/p>\n<p><\/p>\n<p><span style=\"font-weight: 400;\">Teaching children to save money instills good habits: This will be beneficial to them when they grow up and engage in financial careers. John D. Rockefeller, the founder of the Rockefeller Foundation in the United States, received a weekly allowance of 10 cents from his grandfather during his childhood. His grandfather would check if he had increased that amount by the weekend, prompting young Rockefeller to sell newspapers on the street and cultivate the concept of earning money through labor.<\/span><\/p>\n<p><\/p>\n<p><span style=\"font-weight: 400;\">In hindsight, John D. Rockefeller&#8217;s childhood not only had great significance for his future as a business titan but also offers valuable lessons for children&#8217;s financial education worldwide.<\/span><\/p>\n<p><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Written by: Johnny Kwan, Curriculum Director of the International Gifted and Talented Development Education Institute Education experts in the West believe that children should start learning financial knowledge from the age of 3 and have developed educational plans for various age groups, which can be referenced by Hong Kong parents. Age 3: Recognize coins, understand [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":13289,"comment_status":"open","ping_status":"closed","sticky":false,"template":"elementor_header_footer","format":"standard","meta":{"footnotes":""},"categories":[16],"tags":[],"class_list":["post-13294","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-parents-zone"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Western children&#039;s financial awareness education - \u8056\u516c\u6703\u8056\u57fa\u9053\u5e7c\u5152\u5712(\u8475\u6d8c) SKH St Christopher&#039;s Nursery (Kwai Chung)<\/title>\n<meta name=\"description\" content=\"\u8475\u6d8c \u8475\u6d8c\u90a8 \u57fa\u9053 \u5e7c\u5152\u5712 \u95dc\u6052\u751f \u4f0d\u5029\u5100 \u8056\u516c\u6703 \u8475\u6d8c\u5e7c\u7a1a\u5712\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, 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