Media reports say a "children's business school" aimed at developing rich children's financial quotient (FQ) opened in Chengdu, Sichuan province, recently, and about 40 students, aged between 7 and 11 years, who attended the course were billionaires' children. But FQ courses should not be the exclusive preserve of rich children, because every child should learn how to manage money, says an article on gmw.cn. Excerpts:

It is true that wealth management is especially important for billionaires' children. But other children should also get the opportunity to develop their FQ, because everyone has to manage money, big or small.

Some domestic financial planners have said that the younger generation lacks the basic concept of wealth management. As a result many youths become "card slaves", "house slaves" or part of the "moonlight clan". But if the annual tuition for FQ courses is 30,000 yuan (the amount charged by the Chengdu school), how can ordinary families afford to pay for it. FQ courses should not be the privilege of children from rich families.

The government could help all children develop their FQ by introducing the subject in primary schools and make it part of their regular course, just like math or painting.

Robert Kiyosaki, author of Rich Dad Poor Dad, once said, if you don't teach your kids the knowledge of money, other people will do so in the future. Who can be the other people? Maybe, creditors, dishonest traders or even police and frauds. So it's necessary to help develop children's FQs if we want to build a constructive society.

(China Daily 04/03/2013 page9)