Teaching your children about money can be frustrating if you don’t know where to start, but educating them about spending & saving early is imperative to building healthy budget habits for the future. It’s never too early to start indoctrinating your kids with smart money habits. Start with the classic – the piggy bank, or a fun container that they get to choose and decorate (provides you with an afternoon craft at the same time!).
Kids can start saving for little goals at a very young age, so encourage them to help out around the house and offering pocket change for jobs well done. Attempt to differentiate the values of different items when shopping with them, and most importantly, the difference between a needed purchase and a desired purchased (need vs. want).
Check out the infographics we’ve curated for you all in one place, you know, in case you’re not sure where to start. It’s okay, we won’t tell if you won’t.
Source: Doughmain.com/savings
Source: The Economic Times Wealth, May 28-June 3, 2012
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