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Ways To Teach The Value Of Money To Your Child!
It is essential to teach the value of money to your child in the very early stages so that it stays in the mind while growing and the need to value money is also alive! This also makes the child responsible and know the need to have money for sustainability. Lets check out the ways to teach your child the value of money.
Ways
to
teach
the
value
of
money
to
the
child:
1.
Don't
think
that
including
children
in
your
financial
discussions
should
start
only
after
the
child
crosses
18
years.
It
is
good
to
involve
your
child
in
family
financial
and
purchasing
decisions.
Show
your
child
your
budget,
so
she
can
see
how
quickly
the
money
gets
spent
on
bills
and
necessities.
This
way
the
child
will
get
an
idea
on
where
to
invest
and
how
best
to
use
the
money
while
valuing
it.
Explain
the
child
about
the
benefits
of
investing
on
stuffs
which
are
long
lasting.
2. It is not bad to make the child know what is affordable to you. Always share your financial issues which are directly related to the child. It is not necessary to tell everything in details but try to explain that you can't waste money.
3. Teach your child the best way to value money is by saving it. Wasting money can be troublesome in future. Give examples to explain this to your child to teach the value of money.
4. Keep a piggy bank in your child's room and give them money every week or month. Ask them to save money if they demand for a toy or any such item. Tell them that if they save money, you will use that piggy bank savings money to buy the demanded stuff. The need to save money will be realised during the process. Piggy bank savings for kids is an effective way to teach the value of money. If the child is bored then buy new designed piggy bank to bring back the interest.
5. Take your child for a small shopping. Let him/her calculate the bill and analyse the importance of the item purchased. Don't make them thrifty. A balanced mental set up towards expenditure is fine. 'Spending for the right item at the right time for best utilisation' should be the mantra to teach the value of money to your child.
6. The best way to teach the value of money to your child is by communicating. Teach your child the tactics to earn, save and grow money using right methods to help him/her learn the need to have and value money.
Use these ways to teach the value of money to your child to help them have a better future.
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