Money is so significant in human existence that we could talk about it on a daily basis and not even get enough of it and that is because we survive on money, there is no survival without money in it. As parents, we need to make the effort to guide our kids aright about money, or we risk them growing up to become nuisances as long as money is involved.
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At a young age, you can begin to work the concept of money into your child's imagination, like involving smart money-related games, while you introduce them to money, it doesn't have to be boring, you could make it fun and interesting for them as well. Remember that, how you choose to go about it is highly dependent on their age bracket, do not push too hard on the kids, in order words, do not excessively soak them up with something beyond their age.
While the idea of a piggy bank is a very smart one, you also need to take your time to train them on the need for growth, talk with them and emphasize the fact that, the jar needs to grow beyond just money thrown into it consistently, so they get more focused on saving with a plan to grow rather than just putting extra change into a jar. There was a study at Cambridge University discovered that money habits in children are formed when they are 7 years old. It is necessary to know that, these kids have got their eyes on you when you are going out, what you spend, and when you speak with your partner about money, they see it all and their mentality around money begins to get shaped at that point.
It is really important to let these kids know that everything about what they own or around them really does cost money, help them to grab a few dollars from what they have been able to save, take it to the store with them, and allow them pay for what was purchased, this will teach them to value money.
Say no to children when it comes to impulse buying, these impulse demands they make from you that you grant all the time will make them begin to think that life is structured all they want based on demand. Say No to them or even have them save until they are able to afford that particular luxury they desire.
