23rd

Aug

2018

HOW TO TEACH YOUR KIDS TO SAVE MONEY

One of the issues that concern us the most as parents is saving money and this should not be something weird to our children, on the contrary, it should be one of the cornerstones in their education.

With this good habit, children will learn the value of things! We are not only talking about the monetary aspect but the effort that they must put in order to value it.

Experts agree that children who know how to manage incomes and expenses are better prepared for the future and learning these principles will give them many opportunities for progress when they are adults, so it is important to create that good habit at an early age.

There are many ways to teach them how to save, here are some ideas:

Have a piggy bank: Teach this by setting them a goal. This will allow them to know that the coins they are saving will be used to buy what they want.

Reward them for their savings: Let them buy what they want with those coins that they have saved, this will give them the satisfaction of knowing that they got it with their effort.

Explain the difference between need and spending: You can not always have everything you want but what you need requires more order in your savings routine.

Give them the same amount of coins: Set the saving plan with your children's uncles and grandparents so that they always give them the same value so they learn that they have to set goals and not waste money.

Set an example: This will always be the best teaching. If you have good use of healthy money saving techniques, they will learn them from you.

Remember that it is never too early to teach these good savings practices. They will have a healthy relationship with money in their adult life, avoiding inappropriate behavior or irresponsible use of their family income in the future.


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