Behavior wise money is very important in holding owned by everyone, even the need to be taught to children. Early on, they need to learn how to save money and remove it wisely, so that this practice can continue to carry into adulthood. Here are some tips you can do to encourage children to have a healthy financial behaviors:
Create a child trying to get money
When children want to earn money, you can tell him to do some extra work. Keep in mind, this extra work is not the actual work he did as a mandatory part of the family. As an idea, you can ask to collect magazines or old newspapers piling up in the warehouse, then tie them together, and sell it to the junkman. Alternatively, you are encouraged to make crafts which are then sold at the bazaar school. That way the child will learn that in order to get the money they need to try and work as best as possible. Once the money labors in hand, they will think twice when going to use it.
Give them pocket money
Pocket money is going to allow them to buy what they want, but it will also be a good learning tool for children in financial terms. If the child is old enough, you can give the budget a weekly or monthly allowance, along with the message that you are not going to give them back if the money has run out prematurely. These conditions encourage children to learn to count, and planned to spend money.
Aim for a better use of cash transactions
In the banking technology now allows the child to carry the card as a means of changing payment . But you’ll want to keep getting them to bring cash, because when shopping they will see when the money he was carrying reduced. So, they will be encouraged to buy things that really needed it.
Give a good example to children
Children will not learn to downsize or to spend money wisely, if your day-to-day look is very wasteful. Therefore, before you begin to teach them to be financially wise, first you should also review the extent of your ability to manage finances. This will provide an immediate impact on the child, rather than just mere words.