Every parent dreams of their child growing up healthy and smart and able to navigate the modern world. Financial literacy is a very important financial factor without which a person cannot exist. By teaching your child how to handle money, you'll give them a good start in life.
Psychologists believe that the appropriate time for such an undertaking is the age of four or five. At this age, the child can learn to make independent purchases. For example, visit a store that offers sweet things and let it alone make the selection and purchase.
Explain to the child the value of money and let him only think about what he can afford to buy with it.
Real salary
In the form of a game, you can determine money for certain work done, the main thing is that this money is received on certain days. Thus, the child will learn financial discipline and make independent decisions about his financial possibilities.
Offer your child to save money for a toy, treats or pet food if you have them. He would do well to make a notebook of income and expenses to see where and what his money is spent on.
It's no secret that many adults don't know how to have conversations about money. For many years, talking about money was considered shameful in our country, so many adults do not have the necessary culture in this direction. By starting the child early on to deal with financial issues, he will be able to successfully solve them in the future. When the child grows up, introduce him to the different ways of managing money. Be sure to explain to him the pros and cons of borrowing money. To make it clearer, you can give him a certain amount of loan, which he must return in a certain time. The most important thing is to give him a personal example.
Always explain your actions, this way your child will become a financially literate person.
