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7 Ways To Teach Your Children About Money

Discussion in 'Miscellaneous in Parenting' started by VidyaRamadurai, Mar 3, 2018.

  1. VidyaRamadurai

    VidyaRamadurai Senior IL'ite

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    Hi all

    Lot of times we have come across the usual scene in our home that we tell kids do you know the value of money? But how many of us are taken steps to make them realize the same.

    Its important to bring up kids to understand how to manage the money and how to multipy and save as well. In tamil we have a saying " ayndhil valayadhadhu aymbadhil valayadhu". In short the learnings that kids come across or understand at the age of 5 will never vanish.
    Please find below simple steps to enable them on finance
    7 Ways to Teach Your Children About Money - Budget Boss
    Please check its good one
    Vidya
     
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  2. Rihana

    Rihana Moderator Staff Member IL Hall of Fame

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    Vidya, welcome to IL.

    This is a question I've thought about often over the years. Even started a thread couple of years ago: Teaching Kids Financial Responsibility

    The internet is full of articles on this, but the one you quoted is refreshing. Points out some subtle differences in steps parents usually employ to make kids aware of money. The article has simple steps and quite easy to follow. My favorite was 'pay them a salary, not an allowance.'

    Thanks for sharing.
     
  3. GeetaKashyap

    GeetaKashyap IL Hall of Fame

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    @VidyaRamadurai,

    A very interesting thought process and it could benefit parents and children immensely by moulding their outlook and prepare them to face life with clarity. It will not allow children to grow up with a sense of entitlement.

    Thanks for sharing and welcome to IL.
     
  4. VidyaRamadurai

    VidyaRamadurai Senior IL'ite

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    Thanks Geeta.
     

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