Children are not aware of the economic problems of today, but it is good that as children according to their age learn about saving and make it a habit and way of life, this will bring you many benefits in the long run.
Advantages of teaching children to save
- In adulthood, it will be easy for them to meet their financial goals
- They will not have to worry about debts because they will not have
- They will have financial education
1. Observe a Piggy Bank
Accompanied by the piggy bank should include a small notebook in which your child can control the money that comes into it, this will help you to be a person with a good financial organization, try to buy a piggy bank that cannot be easily opened if There could be no “traps” in the organization of money.
When the child gets his allowance, advise him to allocate a part of it to the savings.
2. Teach him to set goals
There is no point, or for an adult, to save a lot of meaningless money, there must be a reason, a goal that serves as a motivation to continue saving. Of course, the goals will depend on the age of your little one can be from a toy to an electronic device.
Make sure your child sets them up, he or she can suggest something, but what is important is that it is something you like to be motivated and can encourage the habit of saving.
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3. Do not Discourage Them
It is normal that at first, the child finds it difficult to reach the desired goal, but one way to discourage the loss of that habit is to put the remaining money, avoid these actions, if you really want to encourage this financial habit in your child to encourage it That achieves its goals without aid of means.
4. Give Rewards
According to our economy, we may not be able to give a large allowance to our children, and this may make them see their goals very far, may also give small rewards for tasks performed at home or at school, See housework as positive. That is, you can give him $ 5 for washing dishes or feeding his dog, etc.
5. Teach by example
This is the main thing; I remember that children rather than words or scolding learn through the example they see at home. Never ask for money from your piggy bank, this will ruin all efforts made because your little one saves.
The moment you give your allowance or reward for everyday chores, the money is your child’s property, see it well and avoid any temptation.
Opening communication regarding finances and economy with our children will help them in their adult life and what you may have cost a lot and learned maybe later they will see it naturally and lead a healthy financial life. Also, include games in your everyday life as a monopoly.