
11-Year-Old Money Study: Opening the Future of Wealth
Description
Book Introduction
Financial habits taught at age 11 will open the door to a wealthy future for your child. From economic concepts to financial habits, early economic education that helps you understand the flow of money. The age of 11 is a time when children begin to understand the world and the principles of things, their thinking skills develop significantly, and their intellectual capacity expands. This is the stage where the scope of interest expands from 'me' to 'society', so it is a time when guidance on how the economy operates in the society surrounding them is necessary, and the daily information that the child encounters becomes the foundation for forming the child's economic concept. Just as small daily habits become study habits, small daily choices and training create lifelong financial habits and thinking. The author, who had started working but did not know the value of money, felt the need to properly understand 'wealth' after becoming a parent and began studying economics. After studying economics extensively and working hard, he achieved financial freedom by leading with money instead of being led by it, and began to impart 'realistic economic education' to his children and students. This book contains step-by-step economic concepts that the author has personally tried at home and in the classroom, as well as 11 economic habits and thinking habits for children to achieve financial freedom. Through this book, even parents who cannot pass on money to their children will be able to pass on the key to a wealthy future for their children. |
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index
Introduction_Economic Habits Instilled at Age 11
Part 1.
11-Year-Old's Money Habits That Determine a Lifetime of Financial Freedom
Why Habits Are the Beginning of Financial Freedom
Your 11-year-old money habits determine your lifelong financial freedom.
- Case 1.
Juniman Kwon Jun
- Case 2.
Representative John Lee
Raising awareness of changing social and economic conditions
- Case 1.
No Cash, a Cashless Society
- Case 2.
A simple payment service that dominates everyday life
The Key to Economic Freedom: Developing Economic Independence
Part 2.
Early Education: Key Economic Concepts for 11-Year-Olds
Why is 11 years old the best age to learn basic economic concepts?
To raise children who are well-versed in economics, conversations with parents come first.
Core Economic Concepts for Elementary School Children, Level 1 (Beginner)
- Understanding the concept of exchange value
- Understand the principles of supply and demand and scarcity
- Understand the principle of economies of scale
Core Economic Concepts for Elementary School Children, Level 2 (Advanced)
- Understanding the value of labor
- Teach the importance of saving and setting goals.
- Understanding your spending habits
- Understanding choices, decisions, and opportunity costs
Core Economics Concepts for Elementary School Children, Level 3 (Expert)
- Understanding the concept of credit cards
- Understanding the principles of capital gains
- Understanding the concept of interest and loans
- Understand the principles of depreciation and recycling.
- Understanding the concept of the sharing economy
- Understanding the concept of outsourcing
- Understanding the value and investment of real estate
- Understanding the concept of stocks and dividends
Part 3.
11 Financial Habits of 11-Year-Olds That Will Unlock a Future of Wealth
Smart Consumption (Rational Consumption vs. Irrational Consumption)
What should I do with a child who thinks a little bit of dust is nothing? (Savings)
Teach me to invest in my dreams, my child's dream department store (investment)
The Golden Goose Project (Asset Building)
Mom, I saw on the news that CU kimbap prices went up again! (Economic Dialogue)
The 1% Secret to Making Your Dreams Come True (Organizing)
Taking care of your child's health with a walking app (killing two birds with one stone)
Tips for a Frugal Leisure Lifestyle (Cost-Effective Leisure)
Start your morning with positive affirmations (the benefits of a positive attitude)
The magic of sharing one and gaining ten (donation)
Let us know that we live in a world where we are all together (consideration)
Part 4.
11 Thinking Habits of Parents and Children That Lead to a Wealthy Future
Why Inconsistent Allowances Are Harmful (Consistency)
A child who runs errands alone (independence)
Even a small compliment (confidence)
Why is this store so crowded? (Curiosity)
The child's allowance is the child's responsibility
Mom wants to be a healthy rich person too (I agree)
Should we try selling this item on the second-hand market? (Courage)
What financial benefits did I receive today? (Gratitude Habit)
The Miracle of Conversation (Communication Habits) from Economic News and Economic Newspapers
What would happen if you saved 500 won every day? (Perseverance)
Why Your Memories Account Needs a Balance (Spare Money)
Part 1.
11-Year-Old's Money Habits That Determine a Lifetime of Financial Freedom
Why Habits Are the Beginning of Financial Freedom
Your 11-year-old money habits determine your lifelong financial freedom.
- Case 1.
Juniman Kwon Jun
- Case 2.
Representative John Lee
Raising awareness of changing social and economic conditions
- Case 1.
No Cash, a Cashless Society
- Case 2.
A simple payment service that dominates everyday life
The Key to Economic Freedom: Developing Economic Independence
Part 2.
Early Education: Key Economic Concepts for 11-Year-Olds
Why is 11 years old the best age to learn basic economic concepts?
To raise children who are well-versed in economics, conversations with parents come first.
Core Economic Concepts for Elementary School Children, Level 1 (Beginner)
- Understanding the concept of exchange value
- Understand the principles of supply and demand and scarcity
- Understand the principle of economies of scale
Core Economic Concepts for Elementary School Children, Level 2 (Advanced)
- Understanding the value of labor
- Teach the importance of saving and setting goals.
- Understanding your spending habits
- Understanding choices, decisions, and opportunity costs
Core Economics Concepts for Elementary School Children, Level 3 (Expert)
- Understanding the concept of credit cards
- Understanding the principles of capital gains
- Understanding the concept of interest and loans
- Understand the principles of depreciation and recycling.
- Understanding the concept of the sharing economy
- Understanding the concept of outsourcing
- Understanding the value and investment of real estate
- Understanding the concept of stocks and dividends
Part 3.
11 Financial Habits of 11-Year-Olds That Will Unlock a Future of Wealth
Smart Consumption (Rational Consumption vs. Irrational Consumption)
What should I do with a child who thinks a little bit of dust is nothing? (Savings)
Teach me to invest in my dreams, my child's dream department store (investment)
The Golden Goose Project (Asset Building)
Mom, I saw on the news that CU kimbap prices went up again! (Economic Dialogue)
The 1% Secret to Making Your Dreams Come True (Organizing)
Taking care of your child's health with a walking app (killing two birds with one stone)
Tips for a Frugal Leisure Lifestyle (Cost-Effective Leisure)
Start your morning with positive affirmations (the benefits of a positive attitude)
The magic of sharing one and gaining ten (donation)
Let us know that we live in a world where we are all together (consideration)
Part 4.
11 Thinking Habits of Parents and Children That Lead to a Wealthy Future
Why Inconsistent Allowances Are Harmful (Consistency)
A child who runs errands alone (independence)
Even a small compliment (confidence)
Why is this store so crowded? (Curiosity)
The child's allowance is the child's responsibility
Mom wants to be a healthy rich person too (I agree)
Should we try selling this item on the second-hand market? (Courage)
What financial benefits did I receive today? (Gratitude Habit)
The Miracle of Conversation (Communication Habits) from Economic News and Economic Newspapers
What would happen if you saved 500 won every day? (Perseverance)
Why Your Memories Account Needs a Balance (Spare Money)
Detailed image
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Into the book
Rather than passing on wealth to my children, I wanted to teach them the value of wealth and have them build that kind of life themselves.
So, I want to make sure that the economic life seeps into their minds and bodies, so that they grow up to be driven by money rather than driven by it.
This book contains the know-how of economic education and economic habits that we taught to our children and students in the classroom.
I hope that many parents, like me, who want their children and students to live healthier and more fulfilling lives than I did, will share their thoughts and methods through this book and apply them.
--- p.
13 From the “Introductory Notes”
If you talk to people around you who have already achieved financial comfort, there is something in common that you will hear.
They did not inherit wealth, or so-called property, from their parents.
I inherited the very idea of 'wealth'.
Here's the key.
More important than having a comfortable level of wealth that others envy is your legacy: your understanding of the economy, your financial acumen, and your money management habits.
These values, which I have learned with my body and mind since childhood at the dinner table, in bed, and at the neighborhood store, have permeated every corner of my life like clothes getting wet in a drizzle, and have become great nutrients for me as an adult.
We need to focus not just on money, but on developing a sense of the economy, how to handle money, and how to develop habits.
We need to start talking about the economy now.
If your child starts asking "why" or becoming curious about anything related to economics, it's time.
That's how you start an economic conversation.
--- pp.
26~27 「Part 1.
From "11-Year-Old Money Habits That Determine Lifelong Financial Freedom"
In the fourth grade of elementary school, around the age of 11, a major change occurs in intellectual development, one of the areas of child development.
Until the third grade, children tend to rely heavily on memory and understanding as part of their intellectual thinking, but as they enter the fourth grade, they gradually begin to use their logical memory skills to make judgments.
That is, the child develops from the level of remembering and understanding situations or problems to the level of logical thinking that considers the principles of objects and phenomena.
The intellectual capacity to receive information into the thought system also expands.
In particular, the scope of interest greatly expands from 'me' to my friends and further to the society surrounding me.
I need guidance on how the economy works in the society that surrounds me.
Children at this age may walk down the street with their mothers and see empty stores with "Closed for Lease" or "For Lease" signs on the windows, wondering why they are empty, or why there are so many buy-one-get-one-free items at the supermarket.
This curiosity is not unique to children.
This is evidence that the expansion of thinking is actively taking place during the 3rd and 4th grades of elementary school.
This curiosity leads to an interest in economic concepts and greatly helps in learning them.
--- p.
46, 49 「Part 2.
From “Early Education: Key Economic Concepts to Know by Age 11”
An organized life leads to an organized body.
There is a child who is well-liked by many friends in the classroom because of his neat appearance, even without wearing expensive clothes.
A clean impression is a combination of several aspects: neatly trimmed fingernails, a healthy and fit body, upright posture, confident and affectionate speech, a plate filled with a variety of side dishes, a considerate attitude toward others, and emotional resilience that quickly regains composure even when things get upsetting.
Being liked by others means having your own value recognized by others.
The reactions of people who see me in a positive light can give you confidence that you are a good person.
Among the economic habits for achieving financial freedom, decluttering is ultimately about organizing your belongings, body, and mind.
The wealthy and entrepreneurial people we know well have simple lives.
Their daily lives are organized so that everything is easy to understand at a glance.
It's easy to understand the flow of money, and the mindset when it comes to spending and saving money is simple.
It's a life with simple but clear rules.
--- p.
134 「Part 3.
From "11 Economic Habits of 11-Year-Olds That Will Be the Key to Opening a 'Future of Wealth'"
Many parents wonder how much allowance they should give their children in middle elementary school each month.
In fact, we need to consider something else rather than focusing on 'how much'.
① Was the amount of allowance determined by considering the child's circumstances? (Didn't the parents decide it arbitrarily?)
② How consistently was the allowance given? (Did you frequently change the frequency or duration because your child complained?)
Each child's situation is different.
How does your child usually use their allowance? You need to know how much your child spends and how much they need.
--- pp.
159~160 「Part 4.
From "11 Thinking Habits of Parents and Children that Lead to a 'Future of Wealth'"
If you've been using products and services with a consumer mindset, you need to practice viewing the world with an entrepreneurial mindset.
Why? Because one day, your child may become an entrepreneur or businessperson, developing and producing products and services.
When you start looking at the world from a producer's perspective, opportunities appear, ideas emerge, and methods reveal themselves.
We need a shift in perspective from consumer to producer.
For aspiring entrepreneurs, the world is a world of learning and curiosity.
I will take this opportunity to expand my thinking by examining areas I normally wouldn't have considered.
You can understand society a little better and dream another dream.
In a world where content empowers and empowers, help your child develop his or her talents and pursue his or her dreams.
Guide your child to look at the world with curious eyes.
So, I want to make sure that the economic life seeps into their minds and bodies, so that they grow up to be driven by money rather than driven by it.
This book contains the know-how of economic education and economic habits that we taught to our children and students in the classroom.
I hope that many parents, like me, who want their children and students to live healthier and more fulfilling lives than I did, will share their thoughts and methods through this book and apply them.
--- p.
13 From the “Introductory Notes”
If you talk to people around you who have already achieved financial comfort, there is something in common that you will hear.
They did not inherit wealth, or so-called property, from their parents.
I inherited the very idea of 'wealth'.
Here's the key.
More important than having a comfortable level of wealth that others envy is your legacy: your understanding of the economy, your financial acumen, and your money management habits.
These values, which I have learned with my body and mind since childhood at the dinner table, in bed, and at the neighborhood store, have permeated every corner of my life like clothes getting wet in a drizzle, and have become great nutrients for me as an adult.
We need to focus not just on money, but on developing a sense of the economy, how to handle money, and how to develop habits.
We need to start talking about the economy now.
If your child starts asking "why" or becoming curious about anything related to economics, it's time.
That's how you start an economic conversation.
--- pp.
26~27 「Part 1.
From "11-Year-Old Money Habits That Determine Lifelong Financial Freedom"
In the fourth grade of elementary school, around the age of 11, a major change occurs in intellectual development, one of the areas of child development.
Until the third grade, children tend to rely heavily on memory and understanding as part of their intellectual thinking, but as they enter the fourth grade, they gradually begin to use their logical memory skills to make judgments.
That is, the child develops from the level of remembering and understanding situations or problems to the level of logical thinking that considers the principles of objects and phenomena.
The intellectual capacity to receive information into the thought system also expands.
In particular, the scope of interest greatly expands from 'me' to my friends and further to the society surrounding me.
I need guidance on how the economy works in the society that surrounds me.
Children at this age may walk down the street with their mothers and see empty stores with "Closed for Lease" or "For Lease" signs on the windows, wondering why they are empty, or why there are so many buy-one-get-one-free items at the supermarket.
This curiosity is not unique to children.
This is evidence that the expansion of thinking is actively taking place during the 3rd and 4th grades of elementary school.
This curiosity leads to an interest in economic concepts and greatly helps in learning them.
--- p.
46, 49 「Part 2.
From “Early Education: Key Economic Concepts to Know by Age 11”
An organized life leads to an organized body.
There is a child who is well-liked by many friends in the classroom because of his neat appearance, even without wearing expensive clothes.
A clean impression is a combination of several aspects: neatly trimmed fingernails, a healthy and fit body, upright posture, confident and affectionate speech, a plate filled with a variety of side dishes, a considerate attitude toward others, and emotional resilience that quickly regains composure even when things get upsetting.
Being liked by others means having your own value recognized by others.
The reactions of people who see me in a positive light can give you confidence that you are a good person.
Among the economic habits for achieving financial freedom, decluttering is ultimately about organizing your belongings, body, and mind.
The wealthy and entrepreneurial people we know well have simple lives.
Their daily lives are organized so that everything is easy to understand at a glance.
It's easy to understand the flow of money, and the mindset when it comes to spending and saving money is simple.
It's a life with simple but clear rules.
--- p.
134 「Part 3.
From "11 Economic Habits of 11-Year-Olds That Will Be the Key to Opening a 'Future of Wealth'"
Many parents wonder how much allowance they should give their children in middle elementary school each month.
In fact, we need to consider something else rather than focusing on 'how much'.
① Was the amount of allowance determined by considering the child's circumstances? (Didn't the parents decide it arbitrarily?)
② How consistently was the allowance given? (Did you frequently change the frequency or duration because your child complained?)
Each child's situation is different.
How does your child usually use their allowance? You need to know how much your child spends and how much they need.
--- pp.
159~160 「Part 4.
From "11 Thinking Habits of Parents and Children that Lead to a 'Future of Wealth'"
If you've been using products and services with a consumer mindset, you need to practice viewing the world with an entrepreneurial mindset.
Why? Because one day, your child may become an entrepreneur or businessperson, developing and producing products and services.
When you start looking at the world from a producer's perspective, opportunities appear, ideas emerge, and methods reveal themselves.
We need a shift in perspective from consumer to producer.
For aspiring entrepreneurs, the world is a world of learning and curiosity.
I will take this opportunity to expand my thinking by examining areas I normally wouldn't have considered.
You can understand society a little better and dream another dream.
In a world where content empowers and empowers, help your child develop his or her talents and pursue his or her dreams.
Guide your child to look at the world with curious eyes.
--- pp.
173~174 「Part 4.
From "11 Thinking Habits of Parents and Children that Lead to a 'Future of Wealth'"
173~174 「Part 4.
From "11 Thinking Habits of Parents and Children that Lead to a 'Future of Wealth'"
Publisher's Review
11-year-olds are becoming increasingly interested in society, making it a good time to start learning about economics!
Why 11? There are various developmental stimuli that should be provided at appropriate times at each stage of a child's growth and development.
The age of 11 is a time when children's interests expand and their sense of money develops, so the curriculum for fostering economic thinking is presented in an integrated manner starting from the 4th grade.
Economic thinking skills should be fostered at home through economic education and habits that are appropriate for the child's developmental stage and curriculum.
There is a big difference between someone who grew up learning economic sense from a young age and someone who only studied and then became an adult and encountered the real economy and money for the first time.
Our children will live in an age of digital capitalism, a world where the flow of money is invisible, and we need to better teach them the concepts of money and economic trends.
Even in the same environment, there are people who save well, spend well, and lead a wise economic life, while there are also people who live their entire lives with incorrect economic concepts and habits.
Rather than passing on 'wealth' to children, early economic education is essential to teach them the 'value of wealth' and help them grow into adults who are financially responsible by instilling economic life in their minds and bodies.
The author, an elementary school teacher who studied money for financial freedom, shares his financial education know-how.
"I want my child to live a life where they can see the world and experience diverse things without worrying about money." Isn't this the wish of every parent?
After becoming an elementary school teacher, the author continued to struggle with tight financial circumstances and a desperate need to make ends meet. He began studying economics, hoping to show his children a wider world, and set two goals for himself.
First, create a 'pipeline' by reducing unnecessary consumption and increasing capital income, while also reaffirming the value of one's calling.
Second, we help children learn the proper concepts of economics in life so that they can live a life where they are in control of their money.
The 'economic freedom' defined by the author is not the freedom to live a life of spending money lavishly.
A life where income exceeds consumption and continues to grow, a life where you can rediscover the calling and value of your profession.
Having achieved the goal of "financial freedom" through meticulous lifestyle habits and financial goals, the author, as a parent and teacher, realized that providing economic education to children provides an opportunity to understand society and expand their thinking skills.
This book contains the author's know-how as an elementary school teacher and mother, hoping that our children will not experience the trial and error caused by incorrect economic concepts and habits, and that through this process, they will be able to organize their lives, discover themselves, and dream of a more confident and brighter future.
The Future of Wealth: Developing Economic Thinking and Habits from a Young Age
"Children who are good at organizing also have good study habits." This is an immutable law that the author has discovered after observing children for 10 years.
It is only natural that the habit of sharpening the pencils for the day's study as soon as you arrive at school, checking the schedule, filling the desk drawer with books and notebooks, and then taking time to read calmly accumulates over 1 year, 6 years, and 12 years, and becomes a study ability.
Good habits don't just affect your studies.
It is also key to achieving economic freedom.
Life is a repetitive process of earning, saving, and spending money.
As children begin to develop a sense of units of numbers and money, the more often they have financial discussions with their parents, the more likely they are to develop good money-saving habits.
It goes without saying that these habits will become the nutrients that will help them achieve economic independence when they become adults and become economically active.
So, what thoughts and habits can help your child dream of financial freedom? The 11 financial habits and 11 thought patterns presented in this book can lay the foundation for financial thinking that will permeate your child's daily life.
Since all economic thinking training processes are conducted through parental questions and conversations, this will also be a valuable tip for parents who wish to foster smooth communication and healthy relationships with their children.
Why 11? There are various developmental stimuli that should be provided at appropriate times at each stage of a child's growth and development.
The age of 11 is a time when children's interests expand and their sense of money develops, so the curriculum for fostering economic thinking is presented in an integrated manner starting from the 4th grade.
Economic thinking skills should be fostered at home through economic education and habits that are appropriate for the child's developmental stage and curriculum.
There is a big difference between someone who grew up learning economic sense from a young age and someone who only studied and then became an adult and encountered the real economy and money for the first time.
Our children will live in an age of digital capitalism, a world where the flow of money is invisible, and we need to better teach them the concepts of money and economic trends.
Even in the same environment, there are people who save well, spend well, and lead a wise economic life, while there are also people who live their entire lives with incorrect economic concepts and habits.
Rather than passing on 'wealth' to children, early economic education is essential to teach them the 'value of wealth' and help them grow into adults who are financially responsible by instilling economic life in their minds and bodies.
The author, an elementary school teacher who studied money for financial freedom, shares his financial education know-how.
"I want my child to live a life where they can see the world and experience diverse things without worrying about money." Isn't this the wish of every parent?
After becoming an elementary school teacher, the author continued to struggle with tight financial circumstances and a desperate need to make ends meet. He began studying economics, hoping to show his children a wider world, and set two goals for himself.
First, create a 'pipeline' by reducing unnecessary consumption and increasing capital income, while also reaffirming the value of one's calling.
Second, we help children learn the proper concepts of economics in life so that they can live a life where they are in control of their money.
The 'economic freedom' defined by the author is not the freedom to live a life of spending money lavishly.
A life where income exceeds consumption and continues to grow, a life where you can rediscover the calling and value of your profession.
Having achieved the goal of "financial freedom" through meticulous lifestyle habits and financial goals, the author, as a parent and teacher, realized that providing economic education to children provides an opportunity to understand society and expand their thinking skills.
This book contains the author's know-how as an elementary school teacher and mother, hoping that our children will not experience the trial and error caused by incorrect economic concepts and habits, and that through this process, they will be able to organize their lives, discover themselves, and dream of a more confident and brighter future.
The Future of Wealth: Developing Economic Thinking and Habits from a Young Age
"Children who are good at organizing also have good study habits." This is an immutable law that the author has discovered after observing children for 10 years.
It is only natural that the habit of sharpening the pencils for the day's study as soon as you arrive at school, checking the schedule, filling the desk drawer with books and notebooks, and then taking time to read calmly accumulates over 1 year, 6 years, and 12 years, and becomes a study ability.
Good habits don't just affect your studies.
It is also key to achieving economic freedom.
Life is a repetitive process of earning, saving, and spending money.
As children begin to develop a sense of units of numbers and money, the more often they have financial discussions with their parents, the more likely they are to develop good money-saving habits.
It goes without saying that these habits will become the nutrients that will help them achieve economic independence when they become adults and become economically active.
So, what thoughts and habits can help your child dream of financial freedom? The 11 financial habits and 11 thought patterns presented in this book can lay the foundation for financial thinking that will permeate your child's daily life.
Since all economic thinking training processes are conducted through parental questions and conversations, this will also be a valuable tip for parents who wish to foster smooth communication and healthy relationships with their children.
GOODS SPECIFICS
- Publication date: April 15, 2022
- Page count, weight, size: 208 pages | 330g | 152*214*14mm
- ISBN13: 9791190488334
- ISBN10: 1190488337
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