4 Ways to Teach Children to Manage Finances as Early as Possible, Parents Must Know!

 One of the important life skills a child can learn is managing finances. In most of the cases, children learn their spending habits and financial values ​​from their parents

Unfortunately, there are still quite a lot of parents who do not teach money skills to their children. In fact, involving children in money management is something that can be done as soon as they learn to count.

It doesn't have to be complicated, children can be introduced early about managing finances in a simple way. Come on, see how!

Cultivate a Passion for Saving

The adage 'little by little over time becomes a hill' can be taught to children so that they like to save. Parents can buy a unique piggy bank as a place to save their children's money to make them more enthusiastic about saving.

In addition, instill words such as "saving is a good habit" or "I like saving" to children. Also explain what benefits they can get from saving.

Introducing That Money Can Be Earned

Children need to have their own money so they can learn how to make decisions about using it. Also explain that in order to earn money, you have to do things.

Parents can set an example by asking their children to help with household chores by giving them a reward. If they want to earn money, they have to complete certain tasks. However, rules like this must also be applied wisely so that children do not have the concept that completing homework must always be rewarded.

Develop a Sense of Sharing in Children

Parents can also provide lessons about financial management by sharing. If parents value sharing with others, then children will also learn how important it is to share with others from an early age.

Use Money as Necessary and Not Wasteful

Tell your child that they can't buy everything they want. So, he had to choose the most important item.

If your child sees two things he wants in the store, make him choose only one. It can be as difficult for parents to say no as it is for children to hear it.

Educating children about personal finances is a process that can take time. But if parents try and continuously communicate a clear message about financial management, parents will instill good habits that will benefit their children in the future.

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