- Nov 1, 2016
- Personal Finance
It is always worth teaching kids how to deal with money from the very early age. It is important that the children understand their value and have skills how to save it properly as well – this knowledge will be useful for the rest of their lives.
Today we will quickly talk about a few lessons about money which should now be introduced to your children.
Not all parents are millionaires
Unfortunately, this is not how it is and won’t be soon either. Still, today’s kids, seeing their friends in class, or even kindergarten with new phones, tablet computers or toys, may develop a different opinion or become quite prominent materialists. As a result, children from an early age should be explained that not all parents can buy everything they want to have right now and right away.
But take notice that this explanation shouldn’t be done through anger or shouting, but during discussions. Once a right occasion comes up, explain to your child that in the world some families are struggling simply because they don’t have that much to eat and that life is not just about new purchases. Teach your children to appreciate not only the money but the work for which the money is paid. Moreover, such values will be taken even more seriously by children, if you live by it too.
Smart financial choices help family’s life
It is perfect, if the child understands that food, paying bills and keeping the house clean is more important than a new toy. But what if he doesn’t? This lesson should be introduced to your children from a very early age. Otherwise one day the time will come when you will be scared to take your kids to the store with you.
It is also worth introducing various money saving techniques as well. From budget planning to coupons and discount codes – everything is worth teaching too. And don’t forget to include the kid in these activities as well. He can later use it too.
Cooking at home – a great way to save money
We are extremely busy, so in today’s society, it seems that is way easier and quicker to stop and eat in a cafe or restaurant. Nevertheless, this method can adequately thin out our purses, and sometimes even harm health.
Therefore, your children from an early age should develop a habit of eating meals at home – try to get them interested in cooking, make this be a fun activity, which may also help to save money for a family’s holiday, or new toys.
How to safely store money
The money may be lost from both children and adults, so since a very young age, it is worth to teach the little ones that money should always be protected and stored safely. Buy your child a small purse for coins and say that it should be protected as their eye.
The child should also understand that the debt and borrowing are never an option. So no matter what, do not induce a child from an early age to use your credit card and avoid doing it yourself. The child must understand that you can only spend as much as you earn but not as much as you are determined to get into debt.