Parenting Tips: From a young age, if children are taught the value of hard work and money saving, then later this art is very useful for children. In fact, the parents of many children accept every word of the children in love and fulfill their every demand. But let us tell you that this habit makes them lazy and away from their understanding of money. Such children are neither able to learn money management well nor do they become good planners. So let us tell you today what you should do to teach these two skills to children. These are some parenting tips.
1. Must give pocket money
Give pocket money to children from the age of five. Let them decide how they can use the money. They will get an understanding that how small amount and saving amount can be increased and what is its value. Give them the idea to spend the savings.
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2. Using the Piggy Bank
Bring your kids a piggy bank and tell them that they should put some amount of pocket money in it. Open a piggy bank every three months or six months and tell them how much more you can save and spend for bigger needs with the money deposited daily.
3.play money games with them
If you take the time to play board games like Monopoly with them instead of video games, mobiles etc. they will be able to learn practically about saving, money related and budgeting. This could be very useful in their future.
4. Carry On Grocery Shopping
Whenever you go grocery shopping, take the kids too. Let them spend their money. In such a situation, you will be able to understand how much understanding of money the child has. If they spend extravagantly then you can convince them.
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5.Exemplify
It is better to give them a chance to do finance and budgeting than giving lectures. For example, give them 2000 rupees for the birthday party budgeting and let them make the budget from decoration to food and cake. In this way they will be able to learn budgeting and become better planners. (Disclaimer: The information and information given in this article is based on general information. Hindi news18 does not confirm these. Please consult the concerned expert before following these.)
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Orignally published at Tailored Stash
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