Can we establish that financial intelligence is not a genetic trait, but an acquired trait, and by that, just as charity begins at home, financial education also begins at home.
Children who grow up in an environment where their parents practice strong financial discipline and it is very evident because of how it has created a balanced growing environment for them where they never lacked nothing but at the same time never wasted anything, will grow up to become children who will also show signs of strong financial intelligence. Do you agree?
I agree with you!
When beginners ask for advice on how they could invest or start investing in a certain portfolio, I always ask them the question if they have any savings. Most answered yes but there were quite a few who wanted to invest without any savings on their part. I explained that the basics of investment will always come down on how they view money as a whole. If they can respect and at least understand the value of money, then they could invest successfully on their part.
Like what you pointed out OP, having a strong foundation in knowing the value of money by saving means that the person would most likely save. If children are taught by their parents that money should be earned and not be given, then they could start understanding the process of investments when they grow older.
These people who want to "invest" without savings? They are the same ones who max out credit cards and live paycheck to paycheck. You are probably dealing with people who want to skip the goddamn fundamentals. They want the "get rich quick" scheme without putting in the work. They want to gamble with money they dont even have.
We all start somewhere on this path, whether weve got stacks to risk or just a little extra one month. Sure some wanna get rich quick with no effort, but others are willing to learn the basics and work for it. No harm in that. If they lose a little gambling at first, at least theyre trying. As long as they dont go overboard, its cool to test things out even without much spare cash. Gotta start building somewhere if you ever wanna have a nest egg.