I earned my first money when I was around 14 years old. My passion for fishing, which began at the age of 9, evolved into a serious pursuit. By the time I was in the major league, catching carp half the size of myself in length, I had started turning that passion into earnings. That's when I first made some money of my own.
From an early age, I've always had a savings account or a piggy bank. To this day, I firmly believe that living from paycheck to paycheck should not be an option. If your income is limited, learn to save. If you can't manage to save this way either, it might be time to "recalibrate your compass" and explore different ways of earning a living.
Lately, youth unemployment has been on the rise, as reported in a Zerohedge article. There are likely numerous contributing factors, but the COVID-19 pandemic has undoubtedly disrupted the plans of many recent college graduates and young professionals who were eager to join the workforce but found themselves locked down instead.
On the flip side, we're currently in a transitional era where much of the traditional workforce is being replaced by automation, including bots and software. This shift could also be a significant factor in the rising youth unemployment numbers. Furthermore, the younger generations are often perceived as lazier compared to their predecessors.
Understanding the importance of saving money was instilled in me from a young age. I used my savings to purchase fishing gear, my first bicycle, and various items that I cherished as a child. Despite the rapid evolution of everything around us, money has remained relatively unchanged. However, blockchain technology and cryptocurrency are poised to revolutionize several aspects of our modern lives, including money itself.
Friedrich Hayek pointed out decades ago that money hasn't evolved much. While other aspects of our lives have progressed significantly, money has largely stayed the same. Therefore, teaching children about cryptocurrency is advisable. But when and how should you start educating a child about crypto? Well, it's important to gauge their readiness. The age of five is likely too early, so let's consider it metaphorical. However, I still believe that introducing kids to crypto can be beneficial, but how do you go about it?
First and foremost, children need to learn that not everything that glitters is "for real" or worth pursuing. Therefore, research is crucial, unless the child is an ardent DOGE enthusiast who doesn't need a crash course on general blockchain projects 😄.
You can use the analogy of a piggy bank to explain crypto to the little ones, but this digital piggy bank has the potential to grow in size if managed properly and with patience. You see, cryptocurrency is known for its volatility, which might be uncomfortable in the short term. However, when you take a long-term perspective, you'll realize that solid crypto projects have consistently appreciated over the years.
Crypto can be seen as the perfect piggy bank for now, but it requires a lot of patience and confidence to watch it grow beyond imagination. So, how would you teach the young ones about crypto?
Thanks for your attention,