Weltnachrichten – AU – Take your children on a virtual world tour with the « world in your wallet »


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Updated: 03. December 2020 14:44 IST

New Delhi [India] 3. December (ANI / Mediawire): The financial challenges people are facing now can unintentionally affect their children – they can help children develop a money mindset very early on. Since several & studies have shown that children with depression tend to be frugal consumers, those suffering from the coronavirus pandemic can also learn important financial lessons. HSBC Premier, in partnership with The Times of India, took children on a virtual world tour to teach children money management. The two-series webinar, entitled « The World in Your Wallet, » aimed to educate children between the ages of 8 and 13 about managing money through travel. The celebrity guest Tara Sharma Saluja and the financial trainer Akruti Agarwal Iyer took part in the webinar. Jaswinder Sodhi, Head of Client Proposals & Marketing – Assets & Personal Banking India at HSBC started the webinar. « This is an interesting way to teach our next generation the importance of savings and goal planning. At HSBC Premier, we have a similar proposition to put the whole world in your wallet by helping clients every step of the way, be it family wealth, higher education, international travel, global investing or the most highly curated lifestyle experiences, « said Jaswinder Sodhi. The Value of Money The first webinar was held in October and many children and parents enthusiastically participated in fun activities and won prizes. Tara found that talking about financial health is just as important as talking about physical and emotional health. She also said money shouldn’t be a feared topic, adding, « Teaching children the importance of saving money is very important. Children love holidays when everyone starts planning and budgeting. Last year when we were in London we gave the kids a small budget as a fun exercise and asked them to plan for the next three days. And it was pretty interesting what they wanted and what they didn’t. We cooked more at Airbnb than we had because they wanted to save the money to go to Legoland. « She went on to explain that it is the parents’ responsibility to find a balance between what the children need and want. She suggested that children understand the value of things based on their family situation and priorities. Adding the importance of budgeting, prioritizing and borrowing, Akruti added: « Children should understand that money itself is constrained and that this can happen to the best of us. So, while budgeting, you need to prioritize what you want and what you need and what you don’t. « 

She went on to explain that if we borrow money, we have to return it, be it to banks or parents. She explained the difference between debit, credit, and currency cards. She advised parents to initiate financial literacy conversations in younger children by discussing needs, wants, and the value of things. And for older children, topics such as savings, goal setting and planning are important life skills. The second webinar after Diwali showed how important it is to be inspired by different cultures, races and diversity. Through fun activities, Akruti explained that today’s children and parents are diverse, as are their financial needs. « It’s not just about having an account to keep your money on. It is the constant ongoing support and guidance for various financial needs. And this is where next-gen at HSBC Premier is helping kids become familiar with banking and money management, « she said. Being InspiredTara and Akruti also discussed how « Travel » inspired entrepreneurs Pooja Dhingra and Bhavish Aggarwal to start new ventures. The discussion slowly moved towards planning and saving for children’s higher education. Akruti advised parents, « Higher education can be intimidating and expensive. It’s good to put money aside each month starting today for future goals. HSBC encourages parents to invest in a variety of currencies, be it dollars or any other currency, to avoid losing money at the time of converting INR to the desired currency. « Tara concluded by explaining the implications of planning early study abroad for children. « If we start planning early, children are also motivated to work hard to make their dreams come true. It’s important to encourage them by helping them plan better and save with the right partners. « Jaswinder summed up the webinar by asking parents to start financial planning early. « From higher education to overseas travel, HSBC has partners in 65 countries and territories in Africa, Asia, Oceania, Europe, North America and South America. We also help parents and students from pre-recording to travel and are happy to give you the support you need, « he concluded. Visit www. nextgenpremier. com for more information on banking benefits for your child. Disclaimer: The views expressed in this article relate solely to the participants in their individual capacity and not to HSBC. This story is provided by Mediawire. ANI is in no way responsible for the content of this article. (ANI / Mediawire)

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World news – AU – Go with your children on a virtual world tour with the « world in your wallet »

Ref: https://www.aninews.in


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