Saturday, December 9, 2017

Warren Buffett: how to teach children to manage money!

Warren Buffett: how to teach children to manage money!

Uorren Baffet, one of the most famous investor and philanthropist, chairman and CEO of Berkshire Hathaway, said that parents need to teach a child to manage their pocket money from an early age - even in primary school. Below billionaire answering questions about what mistakes parents should not allow the financial education of their children.


- Do you think most parents do well with the role of finance teachers for their children?

Most parents are aware of how important it is to teach children the planning and cost management. Several years ago, I came across one study on the topic of how to predict success in life and business success of a person. According to the results, continued success in life depended on the age when the man opened his first business. Therefore, planting the right financial habits of children at an early age, parents provide for them to be successful when they grow up.

- What, in your opinion, the biggest mistake that parents with the financial education of children?

In my opinion, the main thing - to start as early as possible. Many are beginning to start a conversation about it, when they have already in their teens. It's too late.

- What prompted you to create "Secret Millionaires Club"? What do you think children should learn from him?


There are a number of educational programs, but there are only a few,
that teach financial literacy at an early age. "secret club
millionaires" can help children develop good habits that
will serve them for the benefit of the end of life. If this program
can have some impact on youth and help them develop
habits better for the money, it can have a significant impact on their
life when they grow up.

- Where do you learn to manage money?

Great inspiration for me has always been a father. He was my hero when I was six, and still is, absolutely everything. It was he who instilled in me all the right habits that I possess today. Savings - one of them. During its maturation, I opened a lot of their own affairs. The first I started my business six - bought a pack of six Coke for 25 cents and sold for a penny each jar. Also he went door to door and sell magazines and bubble gum.

- What is the best lesson of all the money that you teach your children?

I taught them all a lesson from "Secret Millionaires Club". All of them are quite simple and designed for business and later in life.

Translation: Alice_F

Buffett's secret club of millionaires

Reference: "Secret Millionaires Club" - a 12-serial cartoon that
tells the story of how four teenage comprehend the basics of finance on Example
own business. Children will strengthen and protect their business,
when faced with dishonest politicians, corrupt accountants and
corporate raiders. Uorren Baffet acted as their mentor
the first cartoon series.


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