I was given a small weekly allowance as a child, but unlike most kids, I didn’t choose to spend it right away. Instead, I couldn’t wait to put it in my piggy bank. I wasn’t really saving up for anything at that age. It was just exciting to watch my bank get filled with coins.

Although I didn’t realize it at the time, I was slowly learning about saving and how to manage money. What people say is true. It’s never too early to start teaching kids good financial values. Kids soak in the most when they are young, so why not get a head start?

The concepts and lessons they learn about money will stick with them through adulthood. Here are four of the best lessons to teach kids about finances.

1. Earning an Allowance

One of the most common things I hear parents tell their kids is that “money doesn’t grow on trees”. While that is true, it may be difficult for children to understand.

To help them better grasp the concept, have them earn their own allowance and make their own purchases. Give them a small amount for each chore they complete, and ask them to use it on things they want to get. This will help them learn that money needs to be earned and doesn’t just appear out of thin air. It’ll also teach them that if they use up the money they earn, then they can’t buy anything until they “work” and make more.

2. Saving Money With a Piggy Bank

As kids start earning their allowances, they’ll start to accumulate a small amount of money. Teach them to understand the concept of saving by…

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