Make your Kids Wise in terms of Money!

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Hello Everyone!

The 21st Century kids are just awesome! They are smart, observant, quick learners & most importantly…they are tech savvy! They are growing up so quickly than your imagination.

Their Lifestyle is increasing at a rapid pace. For instance, today an Android Phone is a need for a 10 year old kid…isn’t it?

Kids are innocent…their thinking pattern & behavior can take a turn as we mould them. So it is extremely important to teach your kids the value of money & inculcate discipline in them.

Here are a few things which you can teach your kids…

  1. Patience is must

Parents try to give all sorts of comforts to their kids. But it is important to teach them the difference between their Needs, Wants & Dreams! If they wish to buy something, tell them to be patient. In future, they will have to struggle to achieve their goals so make them tough for it!

 

  1. Introduce them to basic Budgeting

When you provide them with their Monthly Pocket Money, tell them to keep a track of it. Help them in making sensible decisions while handling their money. This will turn into a habit once they grow up & won’t face problem with their income & expenses at a later stage.

 

  1. Create a Piggy Bank or a Bank Account

It is a very common thing for the kids to have Piggy Banks. Explain its purpose to them. Teach them how to deposit money & ensure that they continue their habit of saving money.

 

  1. Be a Role Model

You must practice what you preach! Kids learn by observing their surroundings & consider their parents as idols when they are young. Make sure that you are setting a perfect example for your kids.

 

  1. Bring in Money Games

The best way to teach kids is through games! Board games like Monopoly & Business can add a fun factor along with learning.

 

So as parents, it is your responsibility to take correct steps to educate and motivate your kids to use money more efficiently!

 

More Later…

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