Financial literacy for children may be a term we are not used to hearing, and there is no shortage of people who are alarmed at teaching their child to be miserly or to be a bunch of taboos about money.
Educating children about how to save and the importance of it is one of the priorities and responsibilities that we have today.
Every day we see a more consumerist society, in which we are bombarded with advertisements 24 hours a day, 365 days a year.
For this reason, financial education for children plays a fundamental role in their role as citizens in the future.
Tips for Teaching Kids to Save
These tips will come in handy if you want to teach your children about the importance of financial literacy for children.
1. Piggy bank, savings bank or piggy bank: the best way for children to learn to save is through habit.
This is achieved through a piggy bank, savings bank or piggy bank that allows them to take responsibility, and keep their money for themselves.
2. Financial education for children consists of teaching children where the money comes from and how it is obtained and then spent.
In this way, the importance and value of this will be much clearer.
3. Through work: effort is important, children must know how to appreciate the value of money by asking for their own efforts.
For example, putting them to clean the garage, or cleaning the garden in exchange for a financial payment that they can later save, will allow them to value the work.
4. Goals: saving without purpose is not saving. The best way to save children is to set goals for them. For example, buy the video game they want through their savings.
5. The investment: You can teach a child how to earn a dollar, but the most important thing you must teach him is what he should do with that dollar.
If the dollar is spent on a treat, it will have done nothing and will only be creating bad habits for the future (many adults have it today). Teach him that this dollar works for him as a slave and that he can later convert it into two dollars, then in U $ 4, then in U $ 10…
6. If you know how financial education for children can make your children have a more prosperous future, there will be no better inheritance in the world that can be compared. So, start with yourself.
7. Educate children to help without expecting reward. The law of attraction works and don't wait for the child to grow up waiting to receive money for everything he does.
Teach him to belong to the boy scouts, to support the church, to help the neighbor. When you are an adult, it is difficult to change some habits (it is never impossible) but if taught from childhood it will be a great wealth.
8. Instruct him to be a good person. Money only magnifies who we are. If we are charitable people, imagine what we will do with money. So, it fosters personal growth for the child for life.
9. Start him in the world of reading.
