Value of Money
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Teach your children the value of money.
1.As soon as children can count, introduce them to money.
Take an active role in providing them with information. Observation and repetition are two important ways children learn.
2.Communicate with children as they grow about your values concerning money.
How to save it, how to make it grow, and most importantly, how to spend it wisely.
3.Help children learn the differences between needs, wants, and wishes.
This will prepare them for making good spending decisions in the future.
4.Setting goals is fundamental to learning the value of money and saving.
For example, making them to buy one toy a month or a set of toys for 3 months once etc
5.Introduce children to the value of saving versus spending.
Explain and demonstrate the concept of savings. Get them attractive piggy bank or penny box.
6.Take children to bank to open their own savings accounts.
Beginning the regular savings habit early is one of the keys to savings success.
7.Teach them to keep good records of money saved, invested, or spent.
8.Use shopping trips as opportunities to teach children the value of money.
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