We teach children mathematics, science, history and languages. We teach them to calculate percentages and interest. But we don't explain what borrowing actually means, what happens when someone cannot repay, or what it means to give a guarantee for another person's debt.
These are things that can affect an entire family.
I'm not suggesting children should be told every detail of their parents' finances. A child shouldn't lie awake worrying about unpaid loans, or feel responsible for solving an adult's problem. But money can be taught the way anything else is taught, a little at a time.
A younger child can learn the difference between wanting something and needing it, and that money spent on one thing is money not available for another.
Older children can learn savings, budgeting, bank accounts, interest, borrowing.
By their teenage years they should understand loans, EMIs, credit cards, interest rates, late-payment charges, and what happens when a repayment is missed.
And one thing more, which I think matters most: signing a financial document, or guaranteeing someone else's debt, is not a small favour. Even helping someone we love can carry obligations we don't fully understand. Young people should learn to read documents, ask questions, and take advice before they agree to anything. They should know it is acceptable to say: "I don't understand this. I need time before I agree."
Families could help here too. Asking about a financial decision is not an accusation. Saying that something looks risky is not disrespect.
Schools could teach this with ordinary examples. How does a household budget work? How is an EMI calculated? What happens if the income stops? What should someone look at before taking a loan? Where can they go if they are already in difficulty?
None of this guarantees anyone a safe life. But children should learn the value of money without having to learn it through the suffering of their families.