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…
- 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!
- 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.
- 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.
- 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.
- 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!