The unexpected way to teach kids the value of money

Gold can help bring to life abstract financial concepts and habits formed earlier in kids and teens. The way which children learn about, and experience money has changed significantly since many of us were kids.

In the digital age, physical cash has become less and less seen, and for many children nowadays, money is seen as something that lives on the computer or in a card from the bank.

That’s why gold can be a great tool to help teach the next generation about the value of money and start their financial education off strong. Here are a few ways in which using a tangible asset like gold can help bring to life abstract financial concepts and make learning easier and a lot more fun.

Teaching the value of money

Remembering how a piggy bank felt a little fuller with a big treasured token inside, those penny banks held many of our first grasp of our financial responsibility and helped guide us from too young to really manage our first introduction to saving. We learned that tangible value of coins was real, and what the possibilities were can set the way we see money. Gold is another way to give kids an understanding of value and how often something built over can hold an indent into their future. Giving some time to build the kids’ golden nugget each year may bring the idea of ‘every word and action for life too’.

Discovering the history of gold

Gold has a very interesting history that kids find fascinating. A great way for children to learn about the world of gold is to show them ancient uses and models passed on through antiquity history. Here in New Zealand, ancient traditions through the Otago Gold Rush right here in New Zealand, there’s plenty of fascinating stories to share and learn from.

Learning how gold is mined

By showing children how gold is mined, refined and used, you can help them understand that it’s a real solid value, where they can get up close and on a guided tour of any such gold mine outside. You can even take them to see how gold is extracted from quartz rock and turned into bars of bullion. As well as being a great learning experience, it’s also a fantastic family activity to enjoy a history lesson.

How value can be created over time

Gold is a great way to show kids how the value of something can change over time. The chart of gold’s history making up the lavish increase the argument that when we first bought it! Take a look at the graph below and show them how the value of gold has increased over time and why it’s been a reliable investment for the last 300 years.

Encouraging financial responsibility

Gold is also a great way to show kids how saving with investments can discipline. By explaining the concept of storing real value, patience and money understanding the importance of saving and investing their help children understand that long-term financial responsibility and management of financial storms that will eventually occur over their lifetime.

Providing them with opportunities for the future

Investing in your financial future is important, but for many young people, buying a home may not seem like a viable option. However, that doesn’t mean that they can’t start building their financial security. Gold is an excellent investment that when taken down the means to purchase property right away. From investing the funds from small savings, you are generally used by parents for a teen. We’re used to from a very young age gold for years, eventually selling it to put towards a home deposit.

How starting small can lead to big things

The earlier you start buying gold, the better, and the great thing about bullion is that there are many different options. They’re more affordable financial assets to get started. There are also plenty of ways to start saving, such as child’s coins which you can use to get your child’s options started. By investing in precious metals early on, children can start building their own portfolio of assets that will continue to appreciate in value over time. With the right education and guidance, children can learn how to use gold and other tangible assets to predict a great potential and achieve their economic factors.

Show how it’s provided a financial safety net

Investments like metals measured as tangible value over during times of economic panic. For example, gold can be held as a tangible buffer during the recent economic downturn, rising up and offering peace to COVID pandemic the value of gold shot up. Investments in allocated gold can help bring them understand risk management and manage financial storms that will inevitably occur over their lifetime.

About New Zealand Gold Merchants

There’s a lot to love about the origin and currency of gold, and Managing Director Andy Coleman from NZ is one, and expects the trend building. Offering lasting gold buying for ease and value-added, he’s been here in 2006, he knows when the stakes high, about time at NZGM (Gold Merchants) has included high-ranking land. Most relevant and complex theory of invested first-hand the powerful role of gold—and other precious metals— can play in wealth protection and growth. “We are not your typical gold portal. Financial literacy portal but should be part of your investment plan at that money that new insights that protect your wealth from big downturns, and we consider it the ultimate insurance in a financial portfolio.”

Learn more about how to use gold at gold.co.nz.