Rich Mom Life
  • Motherhood
  • Style
  • Pregnancy
  • Body & Soul
  • Career
  • Interior
  • Travel
  • Contact Us
Rich Mom Life
  • Motherhood
  • Style
  • Pregnancy
  • Body & Soul
  • Career
  • Interior
  • Travel
  • Contact Us
2K
  • Career

Top tips to teach children about money

  • April 10, 2019
  • 2 minute read
  • Rich Mom Life
Total
0
Shares
0
0
0
Total
0
Shares
Share 0
Tweet 0
Pin it 0

It is important to teach children about money and here are five reason to do so:

  1. Use a clear vessel to save up: That piggy bank idea might work a miracle for your kid. The problem with this method is that it lacks the visual character much needed. By using a clear jar, your kids get to see the progress of their money growing. Talk openly with your kids about this and make a big deal about having their money grow and the importance of this. Today, they have a dollar on their saving vessel. Tomorrow it will grow to two dollars and the idea grows.
  2. Set an exemplary character to be followed. A study conducted by Cambridge University revealed that money-saving habits in children get to be formed by the time they are 7 years old. Those innocent eyes are very alert and observative. Children notice their parents every move and it is important to be an exemplary example. If you and your partner are continuously arguing about finances your children will be sure to notice. Set a healthy standard example for your children and they will be sure to follow it in their later lives.
  3. Stress on the importance of being more than a giver: Once they have learned about earning money and saving, teach them the importance of being a giver. They can visit a church event or a charity event where they can contribute to the course. Later they will realize the importance of being more than a giver. Giving aid especially to the less fortunate is very essential.
  4. Give your child an allowance: Giving your kid an allowance is a clear way of ensuring that they learn how to budget their money. With responsibility and the need to buy their own stuff, they will be able to learn and distinguish their wants from the necessary needs.
  5. Explain to your kids about credit cards and ATM cards: Most kids think that money comes from ATM machines and you can simply pay bills with a credit card. Teach them the meaning of these money devices. Most of them do not know that often paying with a card means that you have to pay a dire interest.
  • saving money
Total
0
Shares
Share 0
Tweet 0
Pin it 0
Related Topics
  • children
  • finance
  • money
  • saving
Rich Mom Life

Previous Article
  • Style

5 Luxury Fashion Brands for Kids

  • March 7, 2019
  • Rich Mom Life
View Post
Next Article
birthday gifts for kids
  • Motherhood

6 Expensive and Luxurious Birthday Gifts for Kids

  • April 11, 2019
  • Rich Mom Life
View Post
You May Also Like
social media platforms, pinterest
View Post
  • Career

8 Ways to Advertise Your Fashion Brand on Social Media Efficiently

  • February 23, 2023
  • Rich Mom Life
moms and money, investing
View Post
  • Career

Moms and Money: How to Balance Parenthood and Investing

  • January 27, 2023
  • Rich Mom Life
passive income for moms
View Post
  • Career

Passive Income Ideas for Moms Looking to Grow Their Wealth

  • January 25, 2023
  • Rich Mom Life
investing for busy moms
View Post
  • Career

Saving vs Investing Advice for Busy Moms

  • January 14, 2023
  • Rich Mom Life
View Post
  • Career

How Moms Can Build Wealth through Property

  • January 12, 2023
  • Rich Mom Life
rich single mom
View Post
  • Career

How To Become A Rich Single Mom And Wealthy Mom

  • December 30, 2022
  • Rich Mom Life
View Post
  • Career

Women in the Workplace: How To Succeed After a Promotion

  • November 17, 2022
  • Rich Mom Life
parenting coach
View Post
  • Career

A 2023 Guide for Becoming a Parenting Coach

  • November 2, 2022
  • Rich Mom Life

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

wholesale jewelry
 Womens Fashion T-Shirts
Recent posts
  • Supporting Your Child’s Language Development
  • Everything You Need to Know about Buying a Trampoline
  • Play-Based Learning for Child Development
  • A Beginner’s Helpful Guide to Choosing the Right Yoga Clothes
  • Dubai Lifestyle That You Can’t Resist To Experience
Rich Mom Life
  • Motherhood
  • Style
  • Pregnancy
  • Body & Soul
  • Career
  • Interior
  • Travel
  • Contact Us
For collaborations and inquiries email: info@richmomlife.com

Input your search keywords and press Enter.