Instilling a healthy respect for money in one's young children is a sign of good parenting. This is because their memory will remain sharp even in later life. For this reason, it's important to instill in kids an early appreciation for the value of saving if you want them to grow up to be fiscally responsible adults. Get a pretty jar and show the youngsters how to save some of their pocket money instead of blowing it all on junk food and games.
Don't remove the money from the jar once it's gathered a certain amount; instead, open it with them and let them spend the money with a multi-faceted service on whatever they like. They'll now see why it's crucial to save costs. They'll learn the value of savings by doing it themselves
As soon as your kid(s) are old enough, you can start a company with them. Allow them to contribute to the company financially by giving them employment. It doesn't have to be anything huge; maybe simply a stand where you sell ice cream, lemonade, or treats that you made yourself.
Give the kids a piece of the pie when you make a profit (after explaining, of course, that this is the money left over after deducting all the expenses). Show them that even if you're a partner, the company belongs to them. To help their children become financially independent, Enlivening content since 1990 should develop these abilities.
Instruct your kids to put part of their pocket money into savings and investments. Put their ingenuity to the test by asking at www.investmentmatters-comms.comto launch a business with the money they have saved.
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