高考后想出国？财商教育刻不容缓

The study of children has always been an important issue that bothers parents. This is one of the key factors that affect a child's growth and future development. In order to let children enjoy the foreign education model, or to successfully adapt to the life of studying abroad , more and more parents let their children attend international schools, hoping that they will be admitted to foreign high-quality universities in the future and become international talents.

Cultures of different countries derive different ideas, especially financial concepts. Many western countries’ parents think that children should learn how to make money from childhood.They encourage children to establish the concept of money, and experience the joy of making money. But in China, many parents still retain the concept of never allowing children to endure hardship. Parents usually worry that children may be infected withmoney-stink. However, Financial Quotient (FQ, is the ability to obtain and manage one's wealth by understanding how money works) education is ignored.

Under the background of economic globalization, the practice of wealth management is the essential ability for survival / to survive, financial education is related to the survival ability of children. Then, how can we help children establish a modern view of financial management and prepare for financial affairs  before studying abroad? Let us listen to some suggestions made by Mr. Weiqing Li, a member of the Standing Committee of the Private Banking Committee of the China Banking Association and the Deputy Director of the Beijing Wealth Management Association:

First, talk about money with children.
Mr. Li said, “Many parents have two extreme approaches to educating their kids about financial management. First, the role of money is neglected, and second, the role of money is exaggerated. From an objective point of view, human life is a process that shifts from human capital to financial capital. Therefore, it is very necessary for children to have a proper understanding of money from a young age. And Mr. Li believes that the cultivation of this kind of ability is best if started from child stage. The earlier such abilities are formed,  the better the effect can be. And study indicates that 5-12 years old is the key period for children's financial education.”

Second, turn ideas into action.
As young people's minds are not mature enough, their financial awareness is very weak, their consumption behavior is more casual. In the United States, the most common mistakes that teenagers make in managing their finances are overdrafts, no return, binge shopping based solely on advertisement and so on. In order to solidify good habits and prevent over-consumption. Mr. Li suggested that the habit of planning for funds should be established before the students go abroad. Parents and children should set rules through discussion and adhere to the rules themselves. , Parents should also check on kids the execution of such rules regularly. 

Third, participate in family wealth management.
Whether it is in life or financial management, most of the children nowadays are self-centered. Mr. Li said that children should be guided as soon as possible to participate in family financial planning, and learn to spend money for their families, for parents and for social welfare. In addition, we should guide children to consume with planning, such as create opportunities for children to make money, and help children understand the concept of investment and financial management. When giving children the necessities of life, they must take out some of their own funds.

Author: Weiqing Li, member of Private Banking Standing Committee of China Banking Association, which belongs to the China Banking Regulatory Commission (CBRC). Li is also the Deputy Director of the Beijing Wealth Management Industry Association.