Why “A” Students Work for “C” Students and “B” Students Work for the Government summary

What’s the perfect time to teach a child about finance?

There’s no hard-and-fast rule. But a good rule of thumb is when a child is able to tell the difference between a one dollar bill and a five dollar bill. When they can do this, they’re ready to begin their financial education. 

This education won’t be a process that takes a matter of weeks or months. Financial education takes years, encompassing three distinct windows of learning, each with their own specific needs. 

The key message here is: A solid financial education adapts itself to meet the needs and experiences of the student.

A child’s first window of learning, Quantum Learning, takes place from birth until about age twelve. During this time, children are essentially learning machines. They learn without effort. Every new experience teaches them something new about life and the world around them. 

Around the age of four, the brain begins to divide into distinct hemispheres: the left – thought to be the more analytical half – and the right, which is the creative, artistic side. Most children will end up favoring either the left or the right hemisphere. Parents can take advantage of this change by educating their children on finance through games like Monopoly. Games engage both the left and right hemispheres, so no matter what side your child favors, their learning centers will be stimulated and engaged.

Once a child turns twelve, it becomes harder to learn fundamental skills like languages. At this age, the process transforms into a stage of Rebellious Learning. The child wants to make their own decisions and learn what they want to learn. Unfortunately, they aren’t always aware of the consequences of their decisions, and this can get them into trouble.

It’s a critical time that can test any parent-child relationship, but you can still educate them effectively. One tip is to make them aware of potential consequences by openly discussing your own financial concerns when they occur.

The third window of learning, Professional Learning, takes place in young adulthood when they’re getting their first taste of the real world. They’ll build on the lessons they learned from childhood and apply them to their own lives. This is the time when we find out whether or not we’ve chosen the right career path. If it isn’t a good fit, now is an excellent time to change direction.

But what is the right career? How can you help your offspring pick the right path? Find out in the next blink.