How To Teach A Child To Handle Money Correctly

How To Teach A Child To Handle Money Correctly
How To Teach A Child To Handle Money Correctly

Video: How To Teach A Child To Handle Money Correctly

Video: How To Teach A Child To Handle Money Correctly
Video: The Surprising Way to Teach Your Kids to be Smart with Money | Ellen Rogin | TEDxSevenMileBeach 2024, March
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Most parents try to be strict with their child's whims because of financial problems or unwillingness to spoil him. If you give your child just enough money so that a penny in a penny is enough for him to have lunch in the cafeteria and on the way home, you drive him into a corner, into an insurmountable situation when he will be undernourished or walk home six blocks on foot, just to save some money. for myself. Is this what you wanted for your child?

How to teach a child to handle money correctly
How to teach a child to handle money correctly

Psychologists say that 70 percent of children between the ages of nine and twelve have no idea the value of money. For them, a thing is just the fruit of their desire, and not an object that has its own price, which, perhaps, is beyond the control of the family budget.

Pocket money remedies this situation. The child regularly receives cash, which he can dispose of himself, and the parents buy him only essentials and gifts timed to specific dates. There shouldn't be any more "want" in your family.

If your child likes something, he will have to save up for this thing! Then he will think whether the new game of the three missed trips to the cinema is worth it or not. Controlling your child's spending is not worth it if there are no objective reasons (he smelled of cigarettes), but it is worth explaining that this or that amount is issued for a certain time, and his wallet will not be replenished before the appointed time.

Paying your child for grades is also not a good idea. Your child will not receive any knowledge, and he will be able to receive grades by banal cheating or cramming, which will not bring any benefit. If a child has problems with some subjects, just hire tutors for him, without deducting from his budget, in order to give him real knowledge - the most precious thing that can be given to him at this age, apart from proper upbringing.

The most successful incentive option is small, insignificant for the family, but significant for the child bonuses. For example, if he went to the grocery store without whims, he can leave change or part of it. So the kid will get used to household chores, and your budget will not suffer from a couple of rubles.

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