Considering the young and innocent mind of kids, do they really have an idea on the importance of money? Much more than that, do they even know how to handle money given to them by their parents? Being a kid once, i definitely never thought of this. But now, living in a world where economic crisis has seriously affected our current status, it has come to my attention that the concept of money is not just for adults only, it also for kids.
So let me share here with you some of the random thoughts you ought to know in teaching your kids about money matters.
First, teach your kids about the concept of money, because just like what they say: “The sooner the better”.
I personally think that this is a must because this will help you put your children on the road to handling money responsibly. Sooner they will be able to realize and understand that money is something that you work hard for and not just something that can be wasted. It is indeed important to work on your child’s financial awareness early on, before they become teenagers and they intend not to listen to your advices anymore because they all they want to do is just spend money.
Another thing is that teaching high-schoolers about banking and credit will make them savvier when they leave the nest for as we all know teenagers and college-age kids have bigger responsibilities. They can and should be taught about the market using real money. This will help them prepare themselves into the wise spending of money when they get out of their comfort zones.
These are only some of the realizations that I have in my mind as I think about money and how kids handle it. Because of this, I have thought that even investing should be learned early even if you are still a kid. Money matters. So if you want a better future teach your kids about the concept of money.