As a parent, you have a responsibility to teach your children a number of valuable life lessons. Appreciating the value of money and assets is one of the most important issues to tackle. Frankly, it’s never too early to start.
The good news is that children are information sponges. They will pick up a lot when you lead by example. Here’s how to do it in style.
Be A Working Parent
There are many reasons to go back to work as a parent, even if you aren’t desperate for money. This is a very clear display that hard work allows you to live a better lifestyle. Moreover, if you have the opportunity to find a career that you actively love, this is another great lesson for kids. This can be supported by the idea of using age-appropriate chores to earn pocket money. However, you must avoid overworking your son or daughter – their school work and being a child are the priorities.
Show Them How To Make Their Money Work Harder
Children need to gain a little independence and financial responsibility. It should start out quite small and grow as they get older. However, even when they are simply buying toys with their birthday money, showing the value of shopping around is key. Using online vouchers and other money saving solutions could help them afford three toys instead of two. Once a child has enjoyed the experience of making money work harder, they’ll naturally try to do it themselves.
Teach Them Not To Spend Everything At Once
Even as adults, it can be tempting to buy products that we don’t really need. With this in mind, showing kids the value of saving money until a later date can be a great idea. Opening a child savings account is ideal. It makes them feel grown-up while also providing insight into how interest accumulates. Holding onto money can be far more simple, though, focusing on saving pocket money for a few weeks to buy the bigger product. It’s a simple success but has a huge impact.
Protect Your Assets
Valuing money isn’t all about the use of cash. Other assets deserve your attention too. You’ll want to take out insurances but they do not offer much support in terms of teaching lessons. Using an A frame carport to protect your vehicle creates a clear and visual message. Protecting assets from weather damage, potential vandalism, and other issues is always a wise move. If it encourages kids to take greater care of their toys, gadgets, and possessions too, this is a great bonus.
Encourage The Development Of Arithmetic Skills
In today’s climate, some people would argue that maths isn’t that important. After all, our cells all have calculators, while other forms of automation take care of many issues. In reality, though, the ability to understand the maths is crucial. It literally encourages more calculated decisions, which relates to increased financial responsibility. Even if your maths isn’t strong, engaging tuition can support your child’s development. In turn, their appreciation of money will grow.
CANDY TAI is a wife to David and mom of 5 with a degree in Communications. She's a native Texan (Hook 'Em Horns!) who's been making her home in the Kansas City metro area for nearly 15 years. She loves being able to shuffle her kids from their various sports activities, piano lessons, and school activities. She enjoys fashion, beauty, reality TV, and moviegoing.