Elementary > Math > Money Videos
The modern economy operates on the basis of money. In fact, modern life cannot exist without the help of money. Even as kids, people are exposed to how money works every single day of their lives. For this reason, it is such an important subject to study, not just in elementary school but well into higher studies.
Good knowledge of money is not just about knowing that a one hundred dollar bill can be broken down into five twenty-dollar bills. It is also about how to use money wisely. Some people call this “Financial Intelligence” or “Financial IQ.” In today’s economy, being financially intelligent is a very important life skill that everyone ought to have.
A lot of things can suck people’s pockets dry, from the tempting lure of the local coffee shop to the pair of shoes that are on sale for 50% off. What people may think of as “good deals” are actually designed to make them spend their money unnecessarily. Then, after buying the thing, they realize that the item was out of their budget, and they then struggle to adjust. In turn, they have a hard time finding the money to spend on the things they really need.
Things such as how to spend your money wisely are a huge part of financial IQ. Other principles include how to spot good investments versus scams. The rule of thumb here is if an investment plan looks too good to be true, then it often is. Anything that promises high returns over a very short time is always fishy. Legitimate investments cannot operate that way; otherwise, they will lose all their money in a heartbeat.
Money is a big thing for all people because it can make or break their lives. Not having enough money is stressful. But if people can be educated on how to handle their money properly, they would have fewer problems on the financial side.