Why kids need to learn about money before they can count it | Tetyana Kohansal | TEDxDonauinsel

Financial Literacy Education - Financial habits are largely formed by age seven, highlighting the importance of early financial education [1] - Children often develop fears and misconceptions about money if not properly educated, potentially leading to financial issues later in life [2] - Open communication about money, including failures and choices, is crucial for children's financial learning [5] - Visual aids like coins and drawings can effectively illustrate saving and spending concepts [5] Practical Application - Giving children choices within a budget, such as in a supermarket, can teach them about financial decision-making [5] - A real-world example of selling cosmetics as a child demonstrates how hard work translates into earnings [3][4] - The goal is to empower children to make independent financial decisions, reducing fear and risk associated with money [6] Industry Perspective - The financial industry should promote open and honest conversations about money with children [6] - Financial literacy initiatives, such as children's books, can inspire kids about value and confidence, not just money [4]