How to raise financially responsible children

[King bell]

It is important to teach your children about money from a young age. By instilling good financial habits, you can set your children up for a bright future. Here are a few tips on how to raise financially responsible children:

1. Start early. Have family conversations about money and explain where it comes from and how it is used. As your children get older, involve them in budgeting and allow them to make small financial decisions.

2. Teach them the value of a dollar. Allow them to earn pocket money by completing chores around the house. They can then learn to save up for larger items they want to purchase.

3. Help them understand credit. Explain how credit works and why it is important to use it wisely. Encourage them to only use credit for necessary expenses and to always pay off their balance in full each month.

4. Encourage healthy financial habits. Help your children set goals and work towards them. Teach them the importance of living within their means and of saving for the future.

By following these tips, you can help your children develop into financially responsible adults.

 

[anil02]

Today I read an article of one of richest person of world. He said we must be develop habit of saving in our children in childhood. For we tell them which things they wants and which thing they need. Toy they wants but a school bag is needs. In this way we can develop habit of saving and in young age they will know very well that how we can use our money in better way

 

[Wiscash]

Can we erase that yes we can it should run who are being given force and training right from the time we are be able to talk we can able to help and shine to know the little things that they can do with the house with able to help them see that went put things in place when they and needs organised and also have a sense of focus this will help them to be focusing what they're doing and the end of the day we will be able to help them have a sense of belonging and what they're doing and they were able to know that I'll be happy that putting in a fault in what they're doing will raise them More money More Time and more energy

 

[Jasmine]

In order to raise financially responsible kids, first of all, you need to teach your kids about the value of money. Money does not grow on Trees, you need to work really hard to make money. Your kids should know about this. You should also train your kids to save money, earn money, and invest money. When kids get money form elders, they are always tempted to buy things that don't actually need. You need to help your kids understand why they need to save money, may be you should tell them why to spend on ice creams when they can save the money and buy an iPad. You should also teach kids to work and make money. You can start by setting up a yard sale, or push card sale during the weekends. Teaching kids about investment is also very important. Money will grow only through investment, kids need to learn this.

 

[Mika]

In order to grow financially responsible kids, you as a parent also need to be financially responsible. How can you expect your kids to become financially responsible when you are not financially responsible. Even if you have a lot of money, you should never let your kids that you have a lot of money, you should always show them financial scarcity. This does not mean you should deny your kids essentials and get them things that find happiness (a video game, for example), what I mean to say is that you need them to realize that it is really hard for you to make money so tht the kid can have what they want. Unless kids realize that you need to work really hard to make money, they would never understand the true value of money. Kids need to realize the power of saving and the power of an investment because only these two things can ensure financial security. .