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8 Golden Tips To Teach Kids On Money Management

Precisely the following teachings are intended to provide parents with guidelines to ensure that children internalize the previous concepts, which will undoubtedly be at stake for the rest of their lives.

1.Money is a means to obtain certain things, not an end.

It means that money is not a pretext to pass over people or personal principles, but it is the way to achieve goals that mean benefits for themselves and others.

  1. Money is not bad, bad is possessive and unbridled desire towards it.

When a person bases all his efforts and happiness around him, his life becomes poor and empty.

  1. He must be a possessor of money, instead of being possessed by him.

Man owns his performances and his wealth, but he must not be a slave to it.

  1. Money is not equal to happiness

With money goods or other benefits are acquired, but you will never be able to buy the true and only happiness, such as moments that were lived in family or the fact of enjoying a prosperous health.

  1. Money requires effort

You work to achieve it and you learn to manage it. In this specific point, it is where the parents must award the children, small commissions according to their age.

In this way they will live in their own flesh the value of effort and will appreciate the work that parents do in order to provide their education, recreation, housing, food, clothing, among others.

  1. Saving is a necessity.

And so they should be taught since the children are small.

A person from early ages has been accustomed to reserve part of their income (even the allowance) for saving, it is more likely that when you are an adult have self-control and think coldly before making an expense.

  1. Share with others.

Sometimes the human being needs to see realities opposed to his, in order to assimilate some aspects.

Therefore it is convenient that children know the lives of other children with more needs and so they reach their own conclusion of how lucky they are and how much they can help others.

  1. Evaluate the cost-benefit and price-quality.

Every time the child asks for a toy or other object, it is advisable to invite him to think if he really needs it, if the value he will pay for it is fair or not, if he will take advantage of it in the long short term, as well as value other offers and if the quality is according to the price; Of course, it must be explained in terms of the child’s understanding.

This reflection will make your decisions are in reason to evaluate the cost beyond the simple whim.

 

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