10 Tips To Help Kids 4 Fun Crafts For Kids 4 Great Ideas For Helping 5 Ways To Help Kids A Driveway Alarm A Piano Dealer Can Help Kids African Children Charity Donations Amber Alert Saves Childrens Lives Avoid Weight Loss Side Effects Bean Bag Chairs Help Kids Buy Wholesale Children Clothing Can Life Coaches Help Kids Children Should Learn Do Puzzles Dressing Up Can Help Kids Everyones Responsibility You Can Save Children From Piggy Bank Get The Most From Childrens Education Goedkope Kinderkleding Help Kids Concentrate Help Kids Develop Help Kids Excel At School Help Kids Grow Tall Effectively Help Kids Grow Tall Naturally Help Kids Learn Spanish Help Kids and Own Business Help Your Children Helping Kids Care for the Ideas Helping Kids Form Balanced Opinions Helping Kids Lose Weight Helping Kids Who Dont Like Read How To Create Teddy Bear How To Draw How To Encourage Your Kids Save Money How Youth Sports Help Kids How Save a Child From Poverty How to Help Kids Grow Tall Its Time To Change Karate Schools In Royalton Kids Puzzle Games Kids Typing Games Model Good Money Saving Make Fun Cash Saving Children Save Children - Non-Profit Save Children From Hurting Themselves Save Children From Drugs Save Children From Ear Infections Save Children Saving for Your Childrens Future Six Useful Ways To Help Kids Soccer Helps Kids Do Better TV Viewing for Children Teach Your Children The Five People You Meet Tips To Save Children Tips to Help Kids Toddler Bed Rails Plans Travel Pillows Help Kids to Sleed What Are You Doing to Save Children When parents take Children to Visit Publishing
3 Fresh Water Fish That Are Great A Clean Water Filter All Diets Types Are Salt Water Aquariums Best Fad Diets Clean Water Around The World Clean Water Filter Clean Water in Alaska 2008 Cleaning Water Damage Caused By Floods Cleaning Your Fresh Water Aquarium Cleaning Your Fresh Water Aquariums Consuming Fresh Water from Office Water Diets Dont Work 12 Facts Dont Be Confused Dont Go In The Water Drinking Clean Water How to Purify Drinking Enough Clean Water Produces Natural Enjoying Nature and Family Time in Fresh Fresh Water Aquariums Should Fresh Water Fishing Night Fresh Water in Household Dont Be Deceived Get endless supply of pure clean Group Health Insurance Quote Tips Health Your Most Valuable Asset Health Care Reform Why Are People Health Insurance Fraud Health and Medical Insurance Comparing High School Wrestling Diet How to Become a Home How to Clean Water How to Select Genuine Natural Fresh Incredible Fresh Water Filters Health Is the New High Lets Talk About Fad Diets Low Carbohydrate Diet Revolution A History Low Carb Diet Should I or Shouldnt Maintaining a Clean Water Mental Health Maintenance Is Made New reservoir to keep city Reliable Water Cooler Suppliers Have Ample Sea Water Treatment transformation Summer Time Fresh Water Top 40 Health Quotations Understanding HMO PPO and FFS Health Water Well Drilling Romeo Service Water cooler A source Water of California Is All the Fresh Weight Loss Diet Reviews When Your Health Insurance Plan Wont water Safety Red Light
Help Your Children Understand The Importance Of Money
Today's schools have many things to teach students on various subjects like History, Geography, English, Science, Mathematics and the list goes on. But there is no such school that teaches students on money management concepts like how to save money, how to spend money, how to manage money, etc. So, it is the responsibility of the parents to teach their children on how to manage their money properly.
Children are generally unaware of the importance of money and take things for granted. As a parent, you should teach your children the basic concepts or principles of personal finance. Talk to them about your childhood days and tell them how you used to save money and how difficult it would be to control expenses.
Help your children open their savings account in their name and teach them how to create a budget and how to follow it. Take your children's help in tracking your expenses related to utility bills, grocery bills and miscellaneous expenses and ask them to fill up the budgeting sheet. If your child starts doing this, then he will be able to understand the importance of money and financial situation of your household. Perhaps, your child will help you in cutting unnecessary expenses.
Functionality over fancy lifestyle
Children, especially teens, purchase expensive things to impress their friends and others. They don't want to buy things at a low price; they are not bothered about the functionality of the products that are available at affordable prices. They just want to make a purchase to get into fancy lifestyle and show-off their material possessions.
If your child is making such expensive purchases with his monthly allowance (pocket money), you need to carefully handle this situation and talk to your child in such a way that he does not get rebellious. Never give your debit/credit cards to your children, they are still not ready to take the responsibility of making transactions/payments and at times they may spend on unnecessary things, without your consent. Children should have a debit/credit card only after they start earning.
Teach financial responsibility
Ask children to do some household chores like washing their own clothes, getting groceries or vegetables to home, paying some small utility bills, etc. Give allowance as a payment for a task. Children often like to take challenges and tasks for rewards.
Allowance is a good tool for teaching children about money management. It helps your child to learn how to manage money effectively. Remember, your child's allowance should be of small amount, so that he buys something small that is needed or save the amount for something big later on. It should not be a big amount to make expensive purchases. Further, ask your child to get into part-time jobs during vacations as it helps him understand the value of hard earned money.
Manage their expectations
Don't spend money carelessly in front of your children. Also, while shopping with your children don't make it a habit of buying things for them frequently. It shows your reckless spending. Your child may easily get carried away by your shopping attitude. You need to teach your children about the importance of personal finance and tell them to live frugal and make sacrifices.
Atlanta Dream Center Metro Kidz 2011