Raising a Financial Dynamo
Raising children to be money wise is an important task for parents. We all want our children to be financially and fiscally responsible. Being money wise doesn’t come naturally for everyone, but there are some things you can do do get kids off to a great start. While this is a topic we’ve touched on before, this article will go into a few more little things you can do and let your child do to get the hand of finances.
While these are all things I personally do (they do work for me) if you have any other tips that work please, tell them in the comments!
Starting young and keep it up. As soon as your child is old enough, make or give them a bank. Let them put their own coins and paper money into it themselves. You can start this surprisingly early, and I made my own daughter a simple plastic coffee can bank that is duct taped up (no booboos that way). While it’s not the most beautiful thing ever, she loves putting coins and money into it.
Talk them through the shopping process. This is another great thing to start as young as possible. Explain to your child how finding sales and bargains work, and then talk them through the payment part of the shopping trip. Talk about all of it include buying, budgeting, and the like.
Make shopping fun by looking for deals. As strange as it may sound, children can actually have a lot of fun looking for lower prices. Turning into a game will also keep them occupied.
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