You just can't to hear the eternal "Dad, Mom, I want it, I need it, and all children have a one at school ... " Then you wonder how to help your child to understand that money does not fall the sky?!
In addition, facing the hype on TV and radio, the new candy or last garment or fashion accessory that we must have, some parents sometimes have trouble saying "no". This has the effect to make some parents in financial difficulty and it does not, however, service to their children who then begin their learning with the money. Do not forget that this beginning learning will affect their lives. So how to teach your children the value of money? As with many things, more you learn early in your child the concept of money, more he will be better equipped for the future. It's like playing sports or learning a foreign language at a young age. Remember that this is not such a subject is not taught in school and that the attitude of your children with respect to such money will be conditioned by what they have learned at home.
Here are some suggestions that can help you teach your children the value and concept of money:
1. Start simply:
Children are observers. If you change your habits you bending to pick up a a penny of money or starting count all your money instead of piling directly in your wallet, this will teach your children that even small amounts have their importance.
2. Give them pocket money:
Once your children are old enough to know how to count coins, it may be possible to start giving them pocket money. Let them choose a moneybox and teach them to save at least 10% of their pocket money or the money we give them as gifts (for birthdays for example).
3. Teach your children to respect money:
Teach them to respect money and hard work has been done to win it. Make a short list of "odd jobs" outside the scope of what a normal child is supposed to do and for which you can give a few pennies or some money. Think for example: cleaning cars, the lawn mowing, and the cleaning of certain parts of the house.
4. Let your children accompany you to the bank:
Check with your bank what are the accounts that exist for children and the minimum amount to open a one of these accounts. When your child has accumulated a sufficient amount to open an account, accompany him to the bank to open a savings account. Then encourage him to deposit money regularly above.
5. Give them goals:
It is essential to set goals for your children to help them learn the value of money and how to save. It's never too early to start their set goals, keeping in mind that they must be accessible. Start small: with the purchase of a toy for example. When your child grows, adapt your goals with other things such as a bicycle, a trip.
6. Let them gain experience:
Once your child reaches 15-16 years, let them take a small summer job or part-time work (for example work in a shop or in a restaurant). This kind of thing allows your children to face the world of work and the link between customer service, work and gain money.
7. Be proactive:
explain to your children that most of your income is dedicated to family functioning. At the age of adolescence, children are more likely to learn things in depth or operating costs of a dwelling, buying a car or the savings for further studies. If the child is younger, can for example consider him to do a tour of the house and explain to him the cost of gas, electricity, water and heating.
8. Create a budget:
When your child has clear objectives for his future, you may also offer him to create a budget together. This will help your child prioritize financial and better allocate his money.
9. Enjoy your money:
You've worked hard to have it, it is also good to enjoy and to spend him on things that make you happy. Dreaming together, for example, to a new home or a great trip and work in family to realize those dreams.