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Teaching Kids Everyday Money Skills

EQ vs IQ: What's more important?

Growing up, IQ was the skill everyone focused on. Be it school tests or challenges over the internet, everyone waited to see who scored the highest amongst the friend group. Over the years, I’ve witnessed a greater buzz around emotional intelligence. Because it’s a learnable skill, people are now incorporating it into their learning journey in schools, colleges and employee training.

So which skill is more important? The answer to this question is not black and white. We need to look at both EQ and IQ as one human skill rather than two separate skills. Multiple studies show that having a well developed EQ can lead to higher IQ for kids. They are able to achieve better grades, stay in school longer and make healthier life choices overall.

This brings us to the concept of financial emotional intelligence.

Financial emotional intelligence is understanding what we feel about money and why. Self-awareness plays a huge role in determining why we make the money choices that we do. Through self-reflection, we can eliminate the bad habits and ultimately keep the good ones. When kids connect and understand the emotions that go hand in hand with money, they are better able to make insightful choices thus leading them to financially healthier lives.

The need for next gen life skills is on the rise and on the radar for the future of education. Start your kids early and take them further in life!