Parents! Teach Your Children These Valuable Money Lessons


BANGALORE: Kids grow really fast and as they get older they are ought to learn about money either with your help or by themselves. But the best thing is parents should take a little effort to teach their children about money as they will value their advice more than anyone else. As kids learn about money earlier, they will become responsible with their cash. In addition to that they will come out of the fiction that their parents have unlimited money to spend on them if you tell them how costly the things are and how the money is made to buy those things.

Do you want to teach your kids about money? These are the 10 valuable tips to follow:

1. Educate and improve yourself first: First and foremost thing to do is learn yourself before teaching your kid. Do your homework and learn as much as you can about reducing debt, cutting expenses, investing and saving. First scrutinize your own attitudes and habits about money. It is seen that parents are good at advising, but if you repeatedly waste money, then that is what the kids are learning. For instance, If you talk about wanting a new digital camera or an expensive phone and the next day you run out and buy one then you already showing your kid that you can get whatever and whenever you want. Instead, if you set up a savings plan to buy a camera or phone, then your kids gets a valuable lesson in deciding which things are important to buy and which are not.

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