Business

Tips to Help Children Learn the Value of Money

I feel that i didn’t learn the value of money as a child because it was not part of my education at home. If you don’t teach your children about money at an early age, you are making a mistake you will regret all your life. There are many ways you can teach children the value of money.

Child saving money

These may include :

1- When children start counting, teach them about money. Talk with them about saving, investing and spending.

2- Help them to distinguish between wants and needs.

3- Teach them how to set goals. The benefits of saving encourage the child to set goals.

4- Teach children to save instead of spend. Explain to them that they can earn interest on their savings, and pay them interest on money they have saved at home.

5- Teach children the disadvantages of borrowing. Charge interest on small loans you make to them so they will learn how expensive it is to use someone else’s money.

6- Take children with you to a bank and open a saving account. Many banks have programs that ancourage children to save.

7- Help children learn to keep good records of money they save, invest or spend.

8- Etablish a regular schedule for family discussions about finances. This can be the time when the children count their savings and receive interest.

9- Teach children how to evaluate ads on TV, radio and in print. Will the product really perform and do what the commercials say? Is it really a sale price ? Are there better products for a lower price ? Just because something looks expensive doesn’t mean it is the bast value.

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3 Comments

  • Reply
    Yurtdisi Egitim
    March 6, 2008 at 02:53

    is there any one who knows any source about this subject in other languages?

  • Reply
    Zak
    March 6, 2008 at 14:44

    Well, there are a traduction bar at the top of the site, it can translate the article to any language you want.
    Thanks for asking and commenting.

  • Reply
    Macbeth International
    January 24, 2017 at 23:35

    Yes! Finally someone writes about leave a reply.

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