Finance
Is your child a good student in class and respect for all elders. It a great trial. But is that all? He knows how to plan a budget and stick to it? Know how to use plastic cards or pay bills? Probably not! However, he needs these financial powers, as he becomes an adult. So, as a parent, it your job to get money for your child through the experience of a qualified from an early age.
Read on to know about 5 qualified financial experience for a child should go through. Money skill building experiences for your child to go through Here are five skills to create financial experiences for their children to go through the development of good financial sense:
1. Ask your child to accompany you to the grocery store When you go to the store to buy groceries county this week, so make sure you take your child with you. Typically, most children love shopping. So your child would not mind accompanying you to the store. Once you reach the store, offers $ 20 for your child and ask him / her to buy dinner for that amount. Your child will receive a lesson on how to choose nutritious foods such as the budget . She will also learn about the role of the sales tax.
2. Ask your child to the family of the boat Your child knows that his father is working in good company and deserves a good amount of money. He is, however, unable to how money is spent each month. He complains that the neighbors do not buy a game every month, unlike other fathers. So, ask your child to plan a family budget next month with you. Remind him about the income and expenditure must be made months. This child is aware of the financial situation of the family. He will learn budgeting skills, and the main difference between needs and wants.
3. Sending your child to creditors to pay bills It often happens that simply do not have time to pay the bills. In such situations, you can check your child and ask him to deliver debt. Make sure to write checks in front of your child. You can also ask him to write a review. In this way he learns to write a check carefully. Tell him to calculate the amount of the invoice before writing the check. If you normally pay all your bills online and then the show online bill payment.
4. Provide daily allowance for your child and show the right way to go You must give your child daily allowance, even if the amount is as little as $ 1. Tell your child how to use your daily diet. For example, you may ask you to spend 40% of the money to shop differently. You can save 30% of your money to get the short-term financial resources. You can save money for a few months and the purchase of your favorite video game. The remaining 30% can be used for the gift of charity and meet long-term financial goals.
5. show them ways to make money Children learn the value of money only when they know how difficult it is to earn a penny. One interesting way is through the creation of a small business for your child. You can set up your lemonade stand in front of children at the nearest park. Your son / daughter to sell lemonade to people visiting the park at night. Your child will build a business / marketing skills, which is very important at this time. On the other hand, your son / daughter to make some money fast. If your child is not interested in selling lemonade, then you can provide a pet service in your area. He will learn to be self-dependent in this way.
Last but not least, you should show your child how to use a credit card without having financial problems. You can claim must show the correct way to use a credit card because it has become very difficult for students to obtain a credit card then developed the law. However, this does not mean that students can not get credit cards at all. Therefore, it is important that the child explores the basics of a credit card before going to college.
You can give a credit card to prepay for your child. Your child can use this card according to his / desire. Be sure to tell your child that the money charged to the card is the pension of his / her monthly. This will cause your child to use the card responsibly. This is not to overspend. Other than that, your child will receive firsthand experience on how to use the card.
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