Teach your Children about money

 I feel that I didn’t learn the value of money as a child because it was not part of my education at home. If you don’t teach your children about money at an early age, you are making a mistake you will regret all your life. There are many ways you can teach children the value of money. These may include:

 1- When children start counting, teach them about money. Talk with them about saving, investing and spending.

 2- Help them to distinguish between wants and needs.

 3- Teach them how to set goals. The benefits of saving encourage the child to set goals.

 4- Teach children to save instead of spend. Explain to them that they can earn interest on their savings, and pay them interest on money they have saved at home.

 5- Teach children the disadvantages of borrowing. Charge interest on small loans you make to them so they will learn how expensive it is to use someone else’s money.

 6- Take children with you to a bank and open a saving account. Many banks have programs that encourage children to save.

 7- Help children learn to keep good records of money they save, invest or spend.

 8- Establish a regular schedule for family discussion about finances. This can be the time when the children count their savings and receive interest.

 9- Teach children how to evaluate on TV, radio and in print. Will the product really perform and do what the commercials say? Is it really a sale price? Are there better products for a lower price?

  Just because something looks expensive doesn’t mean it is the best value.