Saving money has never been easy. It requires great
determination, and reason. Parents know what it takes to save every single
dime, and the best gift they could ever imagine providing their children is
tips and tricks to save money.
Many parents make the mistake of providing their little ones
with everything they demand. The more you fulfill their demands it is more
likely that they will fail to understand the value of money. Children should be
made aware of how difficult it is to earn every single dime. Unless a child is
made to understand the difficulties of acquiring money, he will never be able
to give due significance to the fact that saving money is crucial when he grows
up.
Parenting is not just about inculcating all the good traits
in a child, but also about making a child understand the harsh realities of
life. The truth everyone knows is how significant the role of money is in life.
Many parents never hesitate to offer large sum as pocket money to their child.
Large sum as pocket money will definitely make the child happy, but it also
makes him rich in a smaller way, without putting the effort that is required to
earn it.
The best lessons in life are learnt in crisis. Create small
goals for the child, ask him to score high grades in his school, put a cash reward
for his achievements, and then offer money as a reward, if he fulfills the goal.
A child will thus learn to give value to the money he has received. The one who
gives value to money will also learn to save it.
Children should never have it easy. Parents have to ensure
that they themselves don’t overspend. Children are fast learners, and they will
notice how their parents spend money. Parents who are not careful with how they
spend money will pass on the wrong message to their children, which will lead
them to wrong path.
Children follow their parents. Many even consider their
parents as their idol. The way parents handle money will create impact in the
minds of their children. It is important to have the attitude to save money. A
parent’s attitude will reflect on the child, and he will keep it on his
subconscious mind. Parents should set
their actions as examples. There is no way parents can expect their children to
learn to save money, when they themselves go all over the town, splashing money
and wasting their hard earned dime.
Parents can also choose to open a mini bank account in their
child’s name. Encourage the child to deposit money every month or week, out of
the pocket money he or she receives. The habit of saving money early on as a
child will go on and make him a better person with much greater control over
the money he will earn in future. Savings is a habit, and parents should stress
on the need to develop the habit of saving money in their child.
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