As parents we instinctively want the very best for our children. We would do anything to ensure a promising future so they will not have to endure some of the barriers and challenges we had to go through. With that said,here are 5 reasons why we should teach our children group economics.
1) Build our communities
Many of our communities in the black diaspora tend to be run down and dilapidated. They will often have the worst schools, health care, high crime rates and unemployment. For the most part, the governments that control the money that’s spent in these communities don’t really have an interest in improving them. In all fairness, we can’t expect someone else to come and fix our house for us, so the responsibility of improving it is our own. Here are some statistics on the spending habits in the black community:
• 95% of our income is spent outside of the community
• 3% of that is spent with non – black businesses within our community.
• This leaves just 2% of your income for yourself
By teaching our children group economics we empower them to keep their money within the community. By keeping money in the community we can generate wealth and provide the things we need for a productive and healthy environment. This is far better than sending our children out to ask for jobs, building other peoples empires that do not benefit us.
2) Financial literacy
One of the things I wish I learnt as a child was financial literacy. Wealthy families see this as being one of the most important things to pass on to their children. It’s very interesting how this is not taught in schools.
Being financially literate gives you options and options give you freedom. We can really give our children a head start in life if we teach them how to manage money and this can be learnt via group economics. Not only will they be mindful of their own financial wellbeing, but of the financial wellbeing and growth of their own community.
3) Safe and healthy environment
One of the concerns as a parent in this day and time is the safety of our children. When there is high unemployment in the community, people need things to live so crime increases. If we are controlling the wealth and employment, building businesses and hiring people from the community, we will create a safer environment.
4) Self determination
Many of our youth unfortunately, suffer from anxiety and depression for many reasons. One of these reasons can be a feeling of not being in control of their destiny. By working together and building strong communities will give our children self determination. Through this their creativity, passion and excellence will naturally shine. Having money and wealth isn’t the be all and end all, but growing wealth in our community can positively empower communities and change lives.
5) Healthy love of self and kind
Through the media we have always been taught as a people to not trust one another. For over four hundred years we have been fed a false narrative that we are unintelligent, lazy, aggressive, criminals and the list goes on. A little history and research will tell you that this was just a tactic to control us and keep us dependent on other races. Unfortunately this narrative is still perpetuated through the media and keeps us in a controlled state where we think we can not do for ourself.
Learning group economics encourages a healthy love of self and kind. People that have a grounding and awareness of their heritage tend to excel.
So there were a few reasons why it would be beneficial to teach our children group economics. As a parent I see the power in introducing positive thoughts and concepts to our children. Some times just introducing the ideas can start a chain reaction were they will take it further than we could possibly imagine.
Even though anything to do with economics sounds complicated, it can be introduced to children in a simple and fun way. This was the goal when creating my first book “Round and Round” and the learning resources to follow.
If you haven’t got your copy of the book yet for your children, grandchildren nieces and nephews CLICK HERE.
Round & Round is beautifully illustrated rhyming story book teaching entrepreneurism and group economics for children.