Surprise about the Heading “Finances for Kids”……
This is not about Saving for Kid’s Education/Marriage etc etc…..This is about teaching your Kid about Finances..
You will say…how “Bad”……Teaching Kid about Finances…This is not our culture….Then I’ll disagree…
“”Think about Guru Dakshina in Mahabharata, other Mythological books””
Kids..have to pay GURU’s by their own means..(by self earnings)…
Yes….This is true…….So give your Kid’s Financial Head Start..
–Teach children about money from the day they learn numbers and counting.
–Educate them about it’s importance through stories and games.
–Teach them about importance of saving and spending wisely.
–As children grow, they tend to demand more. Gradually teach them about the value of money.
Tell them stories of your struggle and what difficulty you faced while started earning.
I know young couple…having 8 years old Kid.
They fixed his Monthly expense say 200/- Rs.
Now every time when Kid demands Some Chocolates..Say 10/- Rs….So they used to teach him that now you are left with 190 Rs..
—-and So on…..
One day when he learnt that I have only 90/- pending in my Bank (Mom’s bag)…and he wanted a Toy of say 210/- ..He immediately replied to mother that we should take a toy of Worth 80 Rs this month instead and we can save 10/- so that next month we’ll take toy worth 210/-
So….What about Kid’s Learning by this:
1) He learnt about Calculations (Practical Experience)
2) He learnt about Savings (Practical Experience)
3) He learnt about Value of Money.
So……..Hope you understood that Financial Education……is Must for Young Generation……………