It’s never too early to start teaching kids about money. You can teach kids about money at school age because children learn additions, deductions, and other math concepts at school. Parents can build some important fiscal skills, such as savings. As they get older, they can start making some decisions about money, such as deciding how to spend their allowance.
Teaching children love to save early must be understandable to the parents. Teaching the baby to set aside money in his possession when he was still very small is a very positive thing that later can become a habitual pattern for him to determine his life and achievement in the future. Giving an understanding the child to save is obviously not easy. Thought that is still very early would make it just thinking to play. Such conditions clearly become a challenge for your parents to be able to direct the baby prepare financially early on. Therefore, teaching well how to educate children to save will make the future of children becomes brighter. There are several ways you can make your baby love to save.
Give Your Child an Expense
You can start giving your child allowance allowance, allowance that you give for the whole day so that if the pocket money runs out and ask again on the same day should not be given, so that your child can manage expenses. Of course you have to keep in mind that your child’s allowance to meet the needs of a day, teach also to set aside pocket money to save.
You Can Choose Favorite Places for Child Savings
To encourage saving habits, you can buy a wallet or piggy bank with your child’s favorite character. Some experts advise to give your child three different containers to put his money, one for savings, one for shopping, and one to donate to charity. Then, you can decide together, how to divide the weekly allowance between the three jars.
Introduce How to Deposit at Bank
You can introduce how to save for your child, one of which is to open an account at the bank at the age of your child 8-9 years. Every month you can guide him to get used to save in the bank.
Give a Good Example
You can set an example, never lie to meet your needs according to expenditure. You can meet the needs before fulfilling your wishes, not the needs that should be prioritized. Also teach the habit to determine the priority needs of your child.
You can teach your child about money as well as discuss about sharing with people in need. The money aid put into perspective by showing that there are many other things like with the love of family and fellow human beings are important. Thus, your child will be wise in using money for savings, sharing others and also for his needs so that your child can understand the function of money, not just to buy his feeling only.
Giving him a Simple Understanding of Money
Not an easy course, of course, to give understanding to the baby about money. Starting from the type, amount, and benefits of the money itself. So as to give understanding to the child would have to be easy to understand. Giving him information about money and its use will slowly make him understand about money.
Presenting it Funny Piggy Bank
Children are of course identical with everything that can attract his attention psychically. So by awarding the baby piggy bank with a fun and safe form for him, with the understanding that you have previously conveyed. He also can later find out the function of the piggy bank and make it more motivated to collect the money it earns. That way, you also successfully provide an understanding of how to educate children to save on your baby.
Introduce Through the Game
You can teach your child about money by playing together, one of the games you can play with is a monopoly game, this will make your child fun to know money, once in a while you teach your child to save money and set the priorities of importance that should take precedence in issuing money.