Teaching kids how to spend money

Teaching kids how to spend money

Teaching kids how to spend money - How to Teach Your Kids About Money - Teaching Kids the Value of Money - Teaching Children Financial Responsibility » You Must Teach Your Children How To Spend MoneySquandering money without learning how and when to spend seem a major challenge among the teenagers. It is the utmost duty of parents to give them good lesson on how to spend money. You must also know that money is the root cause of problems and is also most blessed thing to be gifted with so much money. Power of money is so intoxicating and people who don’t know how to value money can be diverted into many deviance activities.

Money plays the heaven and hell on earth. Thus, it is very crucial to teach your children how to spend money judiciously without lavishly spending unnecessarily.

Teaching how to spend money doesn’t mean that you should give lecture every morning. You can do it by showing an example by yourself by meeting your daily expenses. Take him to the market when you are buying for the kitchen. Let him know how hard it is to earn money and how simple to spend them off. It doesn’t even take a fraction second to spend money.

Don’t give him so much pocket money. Sometimes children are ignorant about how to handle so much money and this may land him up with bad company. Tell him how to spend on necessary things only.

Apart from this you can entrust him some financial work on monthly budget. This can be done be giving him, responsibility to shoulder his siblings whole month’s pocket money. You can also make him go for kitchen shopping. This will make him understand that how hard it is to save money when you have so many ends to meet.

If your teen son is ready to hold for part time job you should allow him as this will make him tougher to deal with the real situation when he will meet in the future.

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