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5 Tips To Educate Your Kids In Finance

 July 10, 2014  /  Comments Off on 5 Tips To Educate Your Kids In Finance

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Every parent wants their children are better conditions in which they were. Given the economic climate in which our children are growing up today, it is our responsibility to prepare them for the real world and, with respect to Financial, providing financial education.

Very few parents actually teach their kids about money. The list of excuses is long: “I will not put in more burden my child with these issues, and have the rest of your life to worry about money”, “I do not know enough about finance to teach well,” “My parents never taught me about money and I was not wrong, “among others.

Whether you teach or you avoid financial issues at home, anyway your children learn about money from the world around them. Would have to face many problems due to ignorance, or prefer to take charge and actively educate from home? If your answer was the second, here I leave 5 tips to achieve it.

5 Tips To Educate Your Kids In Finance

Recommendations for Training in Finance to your Children

1. The money should not be prohibited. Many of us grew up with the idea that you should not talk about money, even family. I come here to tell you that talking about money at home is very important. As it is not recommended that children learn about sex and drugs from negative influences, to talk comfortably about money small home feel free to ask, what gives you valuable opportunities to impart financial lessons?

2. Do not let your fears and limitations stop you. Usually, we reduce ourselves when we face big fears. Just talking with kids about money is no different. Whether you do not consider a financial master, sure you know your children’s money. No need to teach those complicated issues that may even be above you. However, you should talk about the value of money, saving, investment, charity, income and financial planning.

3. Teach them according to their age. When you give them money for lunch or when you accompany purchases or ATM are receiving messages about money. Use these everyday events as moments of good teaching adapted to the reality. The bigger children are more able to understand everything that happens around you.

4. Make it fun. Many adults say money is a major cause of stress. Do everything possible to keep this message out of conversations with your children. Framed money as a tool, not as a stressor. To make it fun, can take a while to do some family piggy savings or make challenges for a prize.

5. Creates a structure. The sooner you can teach your kids about money, the better the results in the long run. I recommend you create a structure; you can do it through an allowance system in which revenues are obtained from a set list of tasks with assignments cash value. Let him know that you need to fulfil these tasks to earn money from each of them. Deducted from the allowance the value of uncompleted activities and give him his pay at fixed intervals as if it were a salary. With this will teach you to work to earn things. When children get older, increasing the difficulty of the activities and the amounts of money attached.

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  • Published: 3 years ago on July 10, 2014
  • Last Modified: July 10, 2014 @ 10:26 am
  • Filed Under: Finance

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