In 2024, the National Bank of Ukraine, in partnership with the NGO Junior Achievement Ukraine, conducted the first-ever survey of the level of competence in Entrepreneurship and Financial Literacy among 10th grade students.

The results will hardly surprise you: the financial literacy of the surveyed students is still at an elementary level. But there is good news: this knowledge can be improved. One of the tools is to talk about money management with parents or other important adults.

However, let's be honest, sometimes adults themselves do not know how to manage their own finances: to create a budget, save, invest, etc. So, the way to financial literacy for children is through the financial development of parents.

In the LIFE Talk project on the LIGA Life YouTube channel, Oksana Zhelezko, a personal finance consultant, and Oksana Stepaniuk, a child psychotherapist, explained what adults should work on to avoid inheriting their "poverty syndrome" or harmful prejudices about finances.

The experts also explained how to talk to children of different ages about money, which will help to convey information in accordance with the peculiarities of the age development of children and how to explain to children that the family has financial difficulties.

Read about pocket money, expensive gifts, and learning through play in the full issue of LIFE Talk.

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