Close Menu
    Facebook X (Twitter) Instagram
    Facebook X (Twitter) Instagram Pinterest YouTube RSS
    Real Momma
    • Entertainment
      1. Wine
      2. Movies
      3. Books
      4. Sports
      5. Fashion
      Featured

      Quick and Easy West Coast Road Trip

      0
      Recent

      Stand Out Entertainment for Your Next Party

      0

      How to Style Casual Shorts for Women

      0

      Low Bridge Sunglasses Solve the Struggle of Slipping Frames

      0
    • Travel
      1. Destinations
      2. Hotels
      3. Attractions
      4. Restaurants
      5. Travel Tips
      Featured

      Quick and Easy West Coast Road Trip

      0
      Recent

      Indulge in Bliss: All-Inclusive 5-Star Resorts in the Maldives

      0

      Take a Look At The Magic of Saudi Arabia

      0

      How to Plan the Perfect Private Event Cruise

      0
    • Life
      1. Household Tips
      2. Health
      3. Stay Organized
      4. Recipes
        • Breakfast
        • Instant Pot
        • Beverages
        • Slow Cooker
      5. Money Tips
      6. Giveaways!
      7. Reviews
      Featured

      Instant Pot Creamy Mashed Red Potatoes

      3
      Recent

      How Technology is Helping Traditional Homes Become Smart Homes

      0

      Technology in Education: Incorporating Smartphones into Learning While Keeping Kids Safe

      0

      5 Traditional Ways to Celebrate Becoming a Father

      0
    • Parenting
      1. Crafts
      2. Fun with the Kids
      3. Tips and Tricks
      4. Pets
      5. School
      6. Toys
      Featured

      Technology in Education: Incorporating Smartphones into Learning While Keeping Kids Safe

      0
      Recent

      Technology in Education: Incorporating Smartphones into Learning While Keeping Kids Safe

      0

      Safety Tips for Grandparents Providing Childcare

      0

      The Key Benefits Daycare Can Offer Your Children

      0
    • Guest Posts
    • About me!
      • Work With Me
      • Contact Me!
      • Newsletter
      • Disclosure and Privacy Policy
    • Shop
    0 Shopping Cart
    Real Momma
    Money Tips

    Financial Lessons You Need To Teach Your Kids

    By Friends of Real MommaApril 20, 2017No Comments3 Mins Read
    Facebook Twitter Pinterest LinkedIn Tumblr Email

    money 2180338 960 720Source

    One major life skill that we all need under our belt is being good with managing our money. Sure, this is something that often comes with time and experience, but it is also something that you can teach. After all, that is why many people choose to study economics at college! And it is also because of this why it is a good idea to try and teach your kids about money and finances from an early age. There are also many other benefits of teaching kids about money as well, for instance, it has been proven to improve their decision-making skills. So, ready to start imparting all your money knowledge onto them? Here are some financial lessons that every child needs.

    Money Doesn’t Grow On Trees

    When you are out shopping with your children, they will probably see you take money out of ATMs as if by magic! However, they need to know that there is actually no magic involved when it comes to where money comes from. In fact, it is very important that you explain that you have to work hard in order to earn your money. By telling them that from a very young age, they will start to realize that the only to make good money is to find a well-paying job. This is one great way of instilling positive aspirations into them!

    money 1604921 960 720Source

    Be Sensible With Credit

    Even though there is plenty of help with unsecured personal loans for those who get into trouble with debt and credit, it is important that being sensible in the first place is the best way to deal with these kinds of matters. Let your kids know that they should always be responsible with their money, and this will make managing finances easy. You could even try role playing this with them by giving them weekly pocket money.

    Good Things Come To Those Who Wait

    Another key lesson that kids – and many adults for that matter – need to learn is that good things come to those who wait. I’m talking, in particular, about investments. It is important that kids understand that they will need to invest their savings once they are an adult. And most of the best investments are long-term and will lock up their money for a long time. But it will certainly be worth it as these long-term investments always reap the largest rewards!

    piggy bank 1446853 960 720Source

    Don’t Ever Be Impulsive With Money

    You also need to teach your kids that they shouldn’t be impulsive with money, and it is a bad idea to spend your money as soon as you get it. The best way to prevent this is to teach your children about delayed gratification. It’s also a good idea to show your kids how you plan your weekly shops. That way, they will see that you need to plan for certain purchases instead of buying without thinking about it.

    There is a lot that you will need to teach your kids, but make sure finance is a big priority. It will definitely pay once they grow up!

    Previous ArticleThe 5 Best Stable Careers You Want Your Kids to Pursue
    Next Article Credit Crunch Conundrum

    Related Posts

    6 Tips for Creating the Perfect Safe Play Space in House

    October 26, 2023

    Reasons Why Buying Gin Online is the Best Choice for Spirits Lovers

    October 20, 2023

    The Importance of Advisor-Directed Trusts

    October 18, 2023

    Leave A Reply Cancel Reply

    Recipe Rating




    CommentLuv badgeShow more posts

    Products
    • A to Z Printable Coloring Pages A to Z Printable Coloring Pages $4.95
    Must Try Recipes
    Slow Cooker

    Quick and Easy Slow Cooker Ravioli Lasagna

    3

    Quick and easy meal season is back again! With school in full swing and sports…

    Instant Pot Cheeseburger Soup

    0

    Instant Pot Ginger-Peach Iced Tea

    2

    Instant Pot Chicken Enchilada Soup

    0

    The Perfect Breakfast: 10 Things to Put on Your Toast When Looking for a Breath of Fresh Air

    0
    Categories
    © REAL MOMMA 2023. Theme by ThemeSphere

    Type above and press Enter to search. Press Esc to cancel.