4. Say “NO”

In today’s generation everyone prefers to have a single child. And such parents have instinct of getting each and everything the child asks for, no matter how worse is their financial situation.

At times, such habit makes kids so adamant that on refusing certain things they start showing negative behavior. It’s the responsibility of the parent to make them understand why they refused to buy them what they asked for. Your answers might temporarily affect them, but eventually they will realize what you did was right.

5. Try to Talk About Money Matters With Your Children

Once your children grow up try to discuss your financial matters with them to an extend they can understand it. Talk to them about the advantages of saving money, your liabilities and investments.

Giving the example from real life stories can help them relate to these concepts easier. Tell them the plans that you have made for their future like education expenses and their job opportunities.

Many children are very curious to know what is happening around them. So make sure that you keep your mind open for all their questions and answer them patiently.

Also Read:

Spend On Your Children and Get Tax Benefits

Family budget: Manage your money to lead a blissful life!