Contents:
- Medical Video: The best ways to teach your little kids about money
- Tips for teaching children to manage finances
- 1. Tell us where the money came from
- 2. Create a buying and selling game
- 3. Make special savings
- 4. Get used to your child to set aside money
- 5. Recommend which are called needs and desires
Medical Video: The best ways to teach your little kids about money
Children will learn everything for the first time from their parents. One of the things that must be taught early is financial problems. Not only introducing money to children, you also need to teach children about how to manage money well, from where money comes from and to save money.
Here are some ways to teach children to manage and manage finances early.
Tips for teaching children to manage finances
1. Tell us where the money came from
Ask your child where the money comes from, maybe he will answer from the bank, father and mother, president, or rich people.
Children do not fully understand that your family buys or gets something by working. So, you can tell your child there are many jobs that can make money. Emphasize to him that he cannot get money for free without working.
As a parent, you can train him to know 'work' and make money by asking him to help with light homework. For example, help you make a cake or chocolate and then sell it.
That way, your child will understand where money comes from and must do a job first if you want to get it.
2. Create a buying and selling game
Invite children to play buying and selling like in a shop or market. Put a price tag on household items, give your little one money to shop, and pretend to shop at this engineering shop.
Your child can list the things he wants to buy with the money he has. Select items sold and calculate the amount of shopping.
To practice his numeracy skills, give him the opportunity to become a cashier. When he is getting smart in terms of managing expenses, you can give your child the opportunity to shop in the real store.
3. Make special savings
Setting aside money for children's needs is a must. The money you set aside for your child can be made into a savings account for your child.
When savings for your child have started to accumulate, you can take your child to the bank. Tell him the amount of his current savings, ask if he wants to take all of it or keep some for his needs when he grows up.
Give reasons why he needs to save his savings, or need to be taken.
4. Get used to your child to set aside money
Well, the next step is to get used to saving your little one. You can start by giving it a cute piggy bank and asking your little one to set aside his allowance.
Remind your child every day to save in the piggy bank. If it's full or a lot, you can give your little onereward or a gift because he was able to save.
You can buy his favorite items which are certainly beneficial from the accumulated savings. That way, your child will get the benefits of saving since childhood.
5. Recommend which are called needs and desires
Your child may often ask for a new toy or bicycle, or other things you want. Recommend to him which is what needs to be purchased and which are desires.
You can tell him that needs are something that must be had to survive, such as food, water, and shelter. Also explain that desire is something he wants to have.
