2024 Author: Harry Day | [email protected]. Last modified: 2023-12-17 15:43
How to teach a child to treat money correctly, many parents think only when their child finishes school
But a child's relationship with money begins to build much earlier.
How to teach a child to value money?
Three important postulates on this issue:
- the child should be taught how to use money;
- you need to cooperate with the child;
- you should always be honest with your child.
Information for parents who want to teach their children how to use money wisely.
Preschoolers
- Parents should give the child the opportunity to choose between two or three subjects. The child must understand the limitations of choice.
- Take your child with you to the shops. He can pay for his purchases on his own.
- The child should understand that family members should spend money not only on toys and entertainment, but also on paying for housing, buying food, clothes, etc.
- The child must understand how important it is to save money.
- The child must understand the difference between the concepts "I want" and "I can".
- Praise more often than scold. A child's mistakes are part of their learning.
Children aged 6 to 8
- Distribute responsibilities in the family. Even a four-year-old is able to put away his toys. Create a list of special responsibilities the kids can do to get some money as a reward. Start a piggy bank where the child will put the money earned.
- Do not buy toys at the request of the child. Teach him to think about the upcoming holidays and birthday, for which he will definitely receive a gift.
- Teach your child to understand the interconnectedness of actions and consequences. To get something, you have to be responsible for something.
- The child must understand that any resources, including money, are limited.
Children aged 8 to 12
- Let your child help you make decisions. For example, take him with you to the grocery store and ask him what to buy for dinner.
- The best way to teach a child to save money is to show that money must be earned. Gifts don't have to be given all the time.
- Never pay money or "fine" for things like good or bad behavior or normal family responsibilities. Routine cleaning, tidying, etc. is the responsibility of all family members.
- Parents should regularly give small amounts of money to the child. Children and parents must jointly decide how and when to spend. Advise and help, not command and dictate
- Parents must provide the child with the opportunity to earn extra money. For this, it is necessary to give him special concrete and clear assignments.
- The child must understand that planning can save money.
- Organize permanent family councils with the participation of children, at which to discuss money issues, for example, to plan large purchases.
- Demonstrate to children how adults build a family budget.
Children 13 years of age and older
1. Be consistent in your requirements for the child. Requirements shouldn't be too many.. Be consistent and most importantly, honest.
2. Make it clear to the child that it is the interests of the whole family that are most important, not his personal preferences.
3. When congratulating a child on his birthday or other holiday, never replace a gift with money.
4. Parents should help their teenagers save money to achieve long-term goals.
5. Teens should understand how the family budget is replenished and spent on.
6. Teens should be involved in the process of calculating family income and expenses.
7. Teens should be told about how the financial system works - banks, insurance companies, etc.
8. The child must understand that he is an important part of the family and other family members count on him.
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