While our children are still young, it is important to teach them the realities of life. We must be careful that we don’t provide their every whim and wants in life. This may send a wrong message to them that they can get everything they want in life and that life is easy.
Teaching them early on about financial matters would be most beneficial as it will help them to understand that some things need to be earned. It also shows them another side of life which they need to be prepared for as they grow up. It also shows them a reason why they need to study mathematics and be diligent in their work even while they are young.
Learning the value of money while doing grocery shopping is one of the most common ways to teach them about how much something costs and how the basic operations of mathematics is applied to everyday life.
Using voucher codes can give us huge discounts, and it gives them an idea how to save.
Comparing items by checking the information on labels can also be make good shopping habits. It teaches the kids not to become impulsive buyers but to be sure that they are getting the best deals for their money.
Teaching them how to invest their money is also good. Take them to the bank, start saving using a coin bank and learn about the stock market are good ways to introduce savings and investment opportunities.
Learning to distinguish wants and needs early on would be a good way to prepare them to make good decisions when they grow up. Knowing when to use the HP Vouchers you have in your possession is a critical skill they need to learn.
Budgeting is a skill they need to learn. List down the money they earn from simple jobs, their allowances or gifts would allow them to see how much money has actually been into their midst while listing down the expenses would allow them to see how much money is going out.
Living within their means is a discipline they need to catch early on to avoid debts in the future.
Money lessons are very practical lessons but it takes discipline to implement. Our children would need to see it at work in our lives to understand it fully well.