Children can learn to save and invest

Children can learn to save and invest

by Aurora Financial — Posted on March 22, 2019

Children can and should learn how they can contribute to contain expenses since they are very small. There are many ways to introduce children how to manage money and expenses:

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 Through games such as board games, math games, computer games, etc. 

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Explaining to your children the difference between value and price, between need and expense. You could this while shopping for groceries or clothes for example.

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Teaching that everything is achieved with effort. Making the bed, keeping clothes, toys, doing homework, etc., is an obligation. But if your child does some extra work, such as lowering the trash, vacuuming the inside of the car, helping to store groceries, or hanging clothes, it would be a good opportunity for him to offer a small amount of money for each service.

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Teach your child to save by creating goals to do so. Give him a piggy bank so he can save to go to the movies with his friends, to buy an ice cream, or a book, a toy or a much desired slippers.

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Teach your child that it’s worth not spending unnecessary things. Better to reduce expenses in order to acquire what is really needed. Do not forget to reward your child when he manages to save. The spirits will enhance your effort.

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In my personal opinion, the best you could do is to  give life testimony to your child. Educate yourself on expenses, saving, investment. Take care of your assets and seek for professional advice to make sure your money is well looked after.

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-Marianna