2. Introduce Budgeting To Children

Children are the most valuable asset. When you take your kid to a toy shop, it’s very obvious that they get lured by the sheer variety of games and toys around them.  

You as a parent should not buy them everything that they lay their hands on. Ensure your child agrees on your budget before you go for shopping. For instance, let’s consider the agreed budget is 500 and tell your kid to pick up anything they like within the budget you have fixed..

Through this, your child will not only develop a habit of comparing price of the object and the value attached to it, but also helps them improve on mathematical skills.

3. Don’t Use Money as Incentive

Giving money to children after completing certain work is good. But parents should not reward their children for things like doing home work or showing good behaviour.

If you give money for things which children are supposed to follow on daily basis then they will do it just for monetary gains. In case you have a little grown up child, make him/her understand the difference between doing work and completing homework.

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