Teaching your child about money management is a very necessary role you have to play as a parent. If you don't teach your kids how to manage money, somebody else will. And I am pretty sure, that isn't a risk you'd like to take!
We'll preview some outlines on how to give your kids the head-start you wish, and set them up to win against money at any age.


USING A JAR TO SAVE
Piggy bank is an important idea, but it doesn't provide your kids with the "visual" . When you use a clear jar, they see the money growing. Day before yesterday they Had N100 note; Today, it has risen to N200! Talk about it with them, let them know the importance of saving.

SET AN EXAMPLE
A study found out that money habits in your kids are formed at the time they are six-seven years old. Little eyes are watching you; if you are "slapping down plastic every time you go out to dinner or super market, they would notice. Set a healthy example for them and they'll follow that.

STUFFS COSTS MONEY
You've got to do much more than just; "TALK" "That Pack of creative toys costs N6,000 son" Help them grab a few money out of the jar, take it with them to store, and physically, hand the money to the cashier. It'll have a good impact in them.

GIVE THEM A BANK ACCOUNT RESPONSIBILITY
By the time your kid is a teenager, you should know, you're too set them up with a bank account, ("like me I opened a bank account at the age of 17��" "my parent's are good" it helps them in knowing how well they are to make use of money.

There are so many other ways in which you can teach your kids about money, but we'll list the other ways, down here;

• Show Opportunity Costs
• Give commissions and not allowances
• Avoid impulse buys
• Stress the necessity to give
• Let them be "Contented"
• "Stay Clear of loans"
• Help them on how to make money

Well if you do all of this, you're likely to have a great parenthood.

Thanks for reading and please share

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Beautiful!

Wow I am definitely giving this a try

This is a dime piece

czarina:
Beautiful!

thank you, please share

Colonelswitz101:
Wow I am definitely giving this a try

would definitely work out, please share