Steer Clear Of - As parents, we tend to overdo certain things and our kids will do the same when they themselves become parents too. It’s like a parent gene to interfere in certain matters of our children because we care. However, this is not a good deal all the time. Remember that not all our fingers are of the same size but each is important to perform daily tasks. So, kids need to do their own thing and learn what goes best for them, be it their clothes, toys or ways of saving money. Interfere only if things go awry and otherwise not.

Avoid Being a Salvation Source – Like people say, it is sometimes bets to let people learn from their mistakes because this way they will know for sure which things to avoid. In the same way, sometimes it is okay to let kids get bruised in financial terms. One is not saying to make them lose their mind over loss of money or shortage of it but to make them know that parents are the last resort and should be consulted only as the last option. This seems more appropriate with teens but goes just as well with younger kids. If they want some toy or dress they like, let them start saving on their own and help them every week or month to let them know that you are there but only secondary to their efforts.

Avoid Making Goals for Kids – We may not feel that kids know best but they tend to be better judges of certain things. Telling them to save money the way we did will not always help because we hail from different generations. Our ways of learning are different. Some basic points remain same but need to be revamped to cater to the needs of the younger generation. Kids might prefer doing things their ways because this way they will learn about money not because of what we want them to do but because they themselves want it. They might go for monthly and not weekly savings but as long as they save a good deal of money, it’s a lesson well learnt. Moreover, if there are improvements in their spending patterns and not just an increased amount of savings, then we can proudly say that we worked as a team to teach our kids about money.