Financial literacy is a crucial part of every human’s life. We all get involved sooner or later, whether prepared or not, so it’s important to learn about it to avoid suffering from a lack of knowledge.
For some of us, life taught financial literacy at a very young age. We didn’t need anyone to teach us because we grew up in families with financial struggles and had no choice but to educate ourselves—it was a survival skill for us. Experience is the best teacher, they say and I couldn’t agree more because life exposed me to many lessons, including financial literacy.
At eight in junior school, I had my first piggy bank. I’d put my pocket money in it every morning before leaving the house. I didn’t always have plans for the money, but I had an instinct that family needs would come knocking. Sometimes, I planned to use it for silly things kids valued back then, but I’d always break my bank for the house. I was happy doing it, and as a kid, I felt a sense of responsibility.
I moved to thrift savings with classmates, lasting a whole term. Having a savings goal made me feel committed. After getting the money, I’d keep it in my piggy bank until a need arose. During holidays, when I didn’t get pocket money, I did small jobs like moving cement with a wheelbarrow for petty cash just to keep up with saving.
As I grew older, I took more jobs—washing cars, collecting damaged phones to fix at Computer Village while in secondary school. I got exposed to financial literacy at different levels. I’ve been scammed and made crazy decisions involving money, but these experiences helped me improve and prepared me for adulthood.
When I became an adult, coping on the streets of Lagos wasn’t a problem. I could flip different things into money legally, and it helped, though I’m still far from where I hope to be. My experiences helped me thrive at my first official sales job. I moved from salesman to area supervisor in less than a month, and my financial literacy knowledge played a huge role.
I’ve noticed parents preventing kids from learning about money, fearing they’ll become obsessed at a tender age.
It’s understandable, but teaching them young helps them face challenges with or without parental support as they get older.
I had a classmate whose father, a millionaire, owned pure water factories and handed one to each child. My classmate, in SS1 but older than me, ran his. By the time we finished secondary school, he was doing well, while some parents kept their kids dependent despite having the means to teach financial literacy.
As a young person, I dreamed of exposing my kids to financial literacy, but not the way I learned. This is why I bought two poult for my baby, hoping to see them grow and multiply. By the time he can understand financial literacy, he’ll continue from where I stopped.
I don’t have a particular age for teaching financial literacy because kids aren’t the same. They understand things differently, so it depends on the child but as long as they’re willing to learn, holding back makes no sense.
While we don’t want them hurt or too exposed in the process of learning, it’s best to watch and guide them when necessary. Life is a short journey, and preparing the younger generation is important, no matter how long we’re here.
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