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Young people: Learn how to use money in a playful way
Young people: Learn how to use money in a playful way

Video: Young people: Learn how to use money in a playful way

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Video: The Surprising Way to Teach Your Kids to be Smart with Money | Ellen Rogin | TEDxSevenMileBeach 2023, February

Prof. Dr. Klaus Hurrelmann is a senior professor at the Hertie School of Public Health and Education in Berlin. He explains how to involve children in making and spending money.

Professor Hurrelmann, how do you prepare children for their future money?

“By involving them in earning and spending money early on. But be careful: you are overwhelmed with general places such as wealth, pension provision, creating value. Children learn from practical examples."

Do you mean: What does clothing cost? How do I save for my cell phone?

"Yes exactly. The MP3 player, the bike, the driver's license - children should learn to handle money in a playful way. For example, show him how to create a budget to keep track of the finances available.”

What role do schools play?

“We know that children who learned how to use money early on, deal with it completely differently from adults. It is incomprehensible to me that schools no longer have an “economics” subject on their curriculum. A subject that deals with wealth accumulation and retirement provision should - in line with age - begin in preschool.”

What do you advise young people about wealth creation or retirement provision?

“A 15- or 20-year-old is not interested in retirement provision. This is often "much too sensible, even for 35-year-olds." I believe that building society contracts are a good way of giving young people the benefit of saving."

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  • Learn how to use money in a playful way

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