TEACHING CHILDREN HOW TO SAVE THE MONEY

Embed discipline of saving for our children is an important investment and every parent should teach him since childhood. By teaching your children how to save money, with this you can be sure that they are a good financial planner when they grow up. Children are good learners and teach them how to save money is a simple task.

Here are some simple tips you can do :

1 . Helping them to set goals

Children easily learn to save after they have savings goals. In contrast to when a child asks to buy everything, you have to give the best guidance that they want to save. In this way, the urge to buy something will be reduced and the likelihood they will actively saving. Sit down with your child and set a goal what should be bought through savings. You can set up a schedule that shows the price of the goods to the accumulation of savings. This way, your child can imagine the distance.

2 . Encourage them to set aside allowance (money pocket)

If you give children an allowance, you should always encourage them to keep a portion of their allowance.

3 . Opened a bank account by inviting the child there

Opening a bank account with the child will help them understand the banking process at an early stage in their lives. Banks play an important part of our finances and it is important that children can learn early stages .

4 . Teach them to spend what they can afford

It is important that you teach your child to spend only on what they can afford. It will protect them from the credit card trap. You have to help your children are aware of their need to conform with what they can afford. If the item is too expensive for the funds they have today, you can teach them how to save up to afford or how to choose a cheaper alternative for the same item.

5 . Encourage them to be frugal

Another way to encourage your child to downsize is to match the contributions of their savings. You can ask them to save half the cost of the goods they want to buy and you can contribute the other half. In this way, they can be encouraged to save more because of the amount of matching will be.

6 . Be a good example for your child

In addition to teaching them how to save, it is important that you become a good example for your children. Children learn more from what they observe. So, let your child know that you are saving up to buy the goods that were desired and that you can not afford to buy it, with a new way of saving you could afford it. Show them that you also choose a cheaper alternative when it is not able to pay for goods. Living by example will have a greater impact in training your children about it, especially in terms of saving money.