The importance of financial education in youth

The importance of financial education in youth

From March 18 to 24, the global community will celebrate the Global Money Week (GMW2024), an initiative that year after year gains greater relevance in the international arena with a clear message: “Protect your money, secure your future.”

This motto is not a simple slogan, but an invitation to reflect on the importance of financial education in a world where the economic decisions we make today have a direct impact on our future well-being.

In the current context, we must highlight the role that these types of initiatives play in promoting a healthy financial culture from an early age. Aware that the relationship with money has evolved and that today’s young people have digital financial tools that allow them to make economic decisions from their cell phones, the responsibility to guide them correctly is greater than ever.

But how do we approach this task? From Balanz We understand that financial education must begin by instilling healthy habits in adolescence, an ideal stage to build a solid foundation that allows young people to face their future economic decisions with knowledge and judgment. For this reason, we propose specific strategies, such as assigning them a budget to manage during certain periods, encouraging savings towards specific objectives and using digital tools that allow them to record their expenses and income, among others.

Beyond everyday money management, in Balanz We emphasize the importance of investment as a means for young people to not only preserve, but also grow their wealth. The concept of “compounding” or compound interest plays a crucial role here, demonstrating how through the reinvestment of interest the value of an initial capital can increase exponentially over time. This is a valuable lesson that we seek to transmit not only in theory, but through practice, bringing young people closer to investment options that are accessible and appropriate to their realities.

Our commitment to financial education It goes beyond words. Through workshops in schools and agreements with universities, we bring practical knowledge about finances and investments to students of all ages and careers. In addition, we have initial courses for those who begin their journey in the capital market and want to organize their personal finances. We firmly believe that comprehensive financial training is essential for the development of individuals capable of making informed and responsible decisions, thus contributing to their personal well-being and that of society as a whole.

It is important to be aware of the dynamism of the economic world, as well as value the importance of a solid financial education from an early age. By supporting initiatives such as Global Money Week and by highlighting the commitment of other entities in this area, we contribute to building a more informed, resilient society prepared to face the financial challenges of tomorrow. It is ultimately an investment in our collective future.

Director of Balanz University.

Source: Ambito

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