Bangalore: Is your child throwing tantrums for being denied that new video game? Do these episodes get repeated frequently in your home? Then, it’s time you start explaining your kid the alphabets of money management. Warren Buffet advises young parents to start these lessons as early as possible, here’s from the horse’s mouth—“teaching kids sound financial habits at an early age gives all kids an opportunity to become successful when they are an adult.”  Besides, you need to exhibit healthy financial habits in your day to day conduct, because that’s where the child absorbs the most important lessons to be replicated later.

Where Does Money Come From?

Money does not grow on trees or doesn’t just pop out of the ATM machine. This is the first and most important lesson you are going to give your kid. So, telling him this is not enough, you need to demonstrate to him the relationship between work and pay. Explain your kid that you get all that money from the ATM, because the work you do in your office. Give him some household chore to do, such as washing the car or sorting the books in the library and give him a pay for the job.

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