Teaching Kids About Importance Of Money
Introducing money at an early age of kids so that they can value and earn money in the coming time. Few guidelines about the importance of money Parents should teach them. According to their age, a few guidelines are given below:
For 3-5 years:
determine the worth of coins.
identify items that are expensive
While working only money can earn.
Have patience for something you really want.
Can differentiate wants vs needs.
For 6-10 years:
Discuss salary and debate.
options for how to spend money
Comparison of prices.
Know how to open a savings account
For 11-13 years:
They should know how to save money by at least 10%.
They should know goal setting.
Value of hard work.
When don’t have money not need to spend money?
Importance of privacy and security.
For 14-18 years:
How to make a budget.
How to write checks.
The significance of avoiding credit card debt.
What are taxes, and how it affects jobs?
Get a job.