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5 ways to teach kids about money

Education about money from an early age is to teach children that money should come from work and related values ​​such as sharing, accumulating, and even investing.

Give me a job

Teaching children the value of hard work from a young age is extremely important. Work helps your child develop many important skills, as well as building responsibility. And more importantly, let children know that money does not come by chance, but must come from genuine work.

So instead of providing your child with a monthly allowance, try paying her for chores around the house. If you want to teach your child patience, you can give your child a “paycheck” every week or every month. It’s important to find chores that are appropriate for your child’s age.

5 ways to teach kids about money

Teach your children how to share

Children will learn a lot about money handling by watching adults. By taking action when contributing to a local public good, helping the homeless, or buying groceries for a neighbor in need… you are showing your child your act of generosity.

In your savings, also have an amount for charity. This will build a character and a healthy attitude towards money as your child grows up.

Teach your children to save

An easy way for your child to practice save is to use envelopes. Take three envelopes, the outside is labeled “Give, Save, Spend”. Every time your child earns or is given money, ask her to divide it up. Part of it is put in the “Giving” envelope first, then the money in the “Save” envelope and finally used for the purpose of buying something you want.

Invite your child to a family spending meeting

This depends on how your family has this habit. If there are meetings like this, and when your child is a little older and understands what is going on, you might consider getting your child involved. This is a great way for your child to learn how to budget every month and know that everything he or she has comes with a price that must be planned in advance.

And if you and your spouse do not currently have a monthly spending meeting, do this, because this is really the best way to control your money.

Let me make mistakes

Being children also means that they have to make mistakes in order to grow up. Sometimes you don’t need to handle it, but let your child learn from the mistake.

There was a father who took his children to an amusement park. The child has played all the money on a game. The father stood by but did not stop me and when I asked for more money to play, he also firmly refused to give it.

Maybe at the time the child was angry, but after the incident, he realized his lesson. This action of the father made the child realize the consequences earlier than reminding him in the first place.

Most schools don’t teach personal finance. It is very important for parents to equip their children early, to help them have the right attitude towards money when they grow up.

Bao Nhien (According to Inc)

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