From a child's point of view, he thinks that money comes from Mom and Dad's pockets. You need to take out your precious time to teach your kids about the value of money. The lives of children who understand money and how to handle it becomes far easier than those of children who don't.
As soon as they learn to count, you can begin teaching young children how to count money. Practice playing simple games that they will enjoy. You could place a nickel on the table and next to it place five pennies. Continue adding dimes and quarters. Before you know it, they will not only have learned how to count money but will understand its value as well.
Talk to your children about different ways to earn money. For example babysitting, cleaning out the basement, mowing lawns or shoveling snow. Allow your child to make spending decisions. They will learn from their choices. You can then talk to them about making money decisions before more spending takes place.
Encourage your children to set aside a portion of their earnings in a savings account. Let's say your child wants a new toy or game. You can teach them to save part of their income for that toy, while still keeping some money available for everyday items, or for going to the movies with their friends. You are teaching them to understand the value of both short-term saving and long-term saving.
Teach your children the difference between wants, needs, and wishes. Teach your kids that money comes from working. Show them how to budget and how to save. Teach your children to set goals. Nearly every toy children want their parents to buy for them can become an opportunity to establish a target.
Do you give your children an allowance? Give them their allowance in denominations that promote savings. If their allowance is $10, give them a five dollar bill and five one dollar bills. Encourage them to set a couple of the one dollar bills aside for savings.
Practice what you preach. Children learn what they are taught, but they mimic what they see. If you struggle with money, you can work on your finances while teaching your kids the value of money. A good education about money is one of the best tools you can give your children.
Amazing. So incredible and all true. The sad issue here is most of us grew up thinking money is evil and thanks to our parents who also learnt it from their parents and so on. We really need to start changing our view on money just as you have stated by introducing it to out kids at an early age. Please keep up thev
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I think one of the most important things you could ever teach your kid is to save and invest. The child would have such a better life if they learn these responsibility's at a young age.
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This post received a 4.1% upvote from @randowhale thanks to @bayrene! For more information, click here!
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Totally Agreed. Thanks for your sharing.
Here is some interesting pictures from my friend's kid. Have a look if you are interested. Thanks.
https://steemit.com/funny/@sylvia1997/cute-kiwi-fruit
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You are quite right. The parents of one of my friends taught him this value and now my friends is a business leader.
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I don't agree with the post. This should be the last thing to teach. Money is a constraint which inhibits the imagination. We should always teach kid to presume that we are standing in the river of dollars and we can take as much as we want, there is no scarcity. Really wise people never care about money. So called financial intelligent people lacks wisdom of life.
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Followed and resteemed! This is so important.I was never learnt the importance of money. It was "implied" to me that money was a nescesarry evil..it took me 30 years to understand the importance of it, and why money is good. 100% Upvoted!
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Financial intelligence is very necessary. Well written post. Thanks for sharing.
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I wish i had learned how to manage money earlier in my life. I had to learn it the hard way but i did learn it and now i know the importance of teaching your children at an early age what the benefits are of managing their money. Nice informative post! :D
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Thanks for the good advice. It can be so easy to just buy things for our children without a thought for those less fortunate.
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Great topic
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I agree. Teaching children the value of money is very advantageous for their future. Not only do you need to actively teach children how to use money, you also need to use money properly yourself. Children learn from example. By using money correctly and explaining why you're doing what you're doing you teach your child how they should think about money.
When kids learn finance at home, they'll be set up for life without financial worries.
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Agreed. Practice what you preach.
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It's sad, but often times the correct thing is not done. Worse when kids are not given the consequence if the opposite is done.
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As a spoiled child my parents never teached me the value of money and it affected me badly in my teenage years but now I'm all alone in the life and I learned it myself and beleive me it was hard for me to create a saving on my own
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This post has received a 1.04 % upvote from @booster thanks to: @bayrene.
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Interesting information. I think teaching kids at an early age about money is very important. thank you @bayrene
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I once heard someone say that it's better not to give children allowance money. Don't remember their reason exactly. But I think it helps children associate money with work. What do you all think about this?
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It is sad, but some children steal from their own selves even when they are taught how to save.
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Great post i hope this will help my kid to control money in the future..
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I'm promoting Steemit by sharing my blogs directly to other social media. I currently share on:
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Same username as Steemit @bayrene
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Great thoughts, but what's important is knowing whether your child can understand the concept. In children's psychology children tend to have difficulty understanding volume until a certain age. I think this is a wonderful article, but we should consider that most children won't understand value until they mature enough.
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This is such a good factor. I started teaching my kids since they could comprehend. We started with knowing the difference between a "Want" and a "Need". I believe this was the greatest starter help for us. Thanks for sharing.
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Hey @bayrene. Nice post, I just followed you, please check my bio and my first post, if you like it do upvote and follow me back at @lunaticenigma
I will be posting a lot on success tips, technology trends life and gaming.
So all follow me here: @lunaticenigma
Cheers
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Nyc piece @bayrene
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Thanks for the post, yes I think it is very important to teach children from an early age about the value of money! 💰
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thanks bro,,,,,, Upvote and follow me bro
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