Young kids have great potential to consume information from around them. The brains of young kids are tuned in to learn new and exciting subjects more quickly than adults. So if you are a parent or you have young kids at home, then you need to teach them ‘REAL FINANCES.’
It requires right ways and implementing them at the right point in time. Here are some of the smart ways with the help of which you can teach your kids finances in the best possible manner.
1. Do yourself first:
Children always observe their parents with laser-focused eyes. Yes, laser focused! Sounds strange? It’s not actually. In the 21st century, kids are brilliant.
It entirely depends on the parents to guide the intelligence on the right track.
If you are a finance freak, then congrats! If not then you can become one soon and ensure that you become a real guide for your kids. Once you start taking finances seriously, you will understand the value of becoming a guide for your child.
2. Start Early:
Yes, you need to stop thinking and just start.
Though start small, but make sure that you DO START as early as possible. This will help you to bring your child on the right track in finances.
In the early stages, you need to check for some simple ways. You can opt towards motivating your kid in productive yet useful ways.
If your child is a toddler, make sure that you show them books which are based on finances. Depict everything in pictures and toys. This will help them to be in common situation when they grow further and enter into next phases of life.
3. Speak to them:
You need to talk with them and make sure that they understand what you want to indicate to them.
Parents need to be a good teacher if they want their kids to learn well since childhood.
Talk to your kids. Spend time with them.
Make sure that you stay soft and polite while speaking. No need to hurry in teaching them. Once you talk to them, they too will understand what you mean and will eventually follow them.
4. Take small steps:
Take one step at a time. Be slow. Little kids need to handled with care.
If you think this is too tiring, then create a schedule. Pick up one task at a time. Give one task one day. Keep things simple.
You must remember that kids are too delicate to handle. The way you treat them, they will become and treat others in a similar way.
Since your kids are small, you too need to take tiny steps. Your primary focus should be to ensure that your kids are familiar with finances in a positive way.
5. Don’t pressurize:
No person on this earth likes to be forced. Never. You just need to make this clear.
Keep everything light yet focused. Confused right? It’s not that confusing. Insert tiny finance related stuff in your kids routine.
Don’t stress out yourself nor stress out your kid. That’s great that you want to teach your children regarding ‘REAL FINANCES’ but don’t get too much involved in it.
Enjoy the childhood of your kid.
“Play and education should be two sides of the same coin.”
6. Treat them like a responsible person:
If you want to get your kids learn finances, then you have to make sure that you treat them like a person in charge.
This will require you to trust your kids at the fullest.
It’s your kid, and it’s your responsibility to treat and make a responsible person.
Trust is the necessary foundation, and you need to build this first before you proceed with the next major steps.
You can give them certain tasks which are apt for their age. Then tell them how they performed. Make it fun.
Most important is that you APPRECIATE YOUR KID.
Yes, appreciation and acknowledgment matter a lot even to children. You need to understand this and accordingly keep things on a positive note. Young children need the right way, and with proper guidance added with appreciation, you will be able to train your kids well.
7. Give them money to handle:
If you want to teach a skill to someone, the best thing is to place them in that particular position.
This makes them aware that they “CAN DO IT.” You just need to bring the spark in them, and then they will ignite it.
This takes ample of time and patience.
Same is in the case of your young kids. Give them money to handle. It will not be hundreds of dollars.
Just give them a coin and tell them that ‘You need to take care of it.’ See how proactive your child is when you say this.
Do it and see the change. I assure that you will be happy to see it.
Then teach them to keep a note of how much money they have with them. After few years, show them how to measure what they spend.
Gradually, you will find your kids managing money in better ways. Isn’t that a great achievement? Absolutely!
8. Reward your kids:
Once you have achieved that you aimed for, REWARD them.
Keep one thing in mind. Rewards should be something which ” motivates” your children to use and improve your skills further.
I will give you an example. My mom always gave me books and pens as gifts. Books of one standard above than what I was presently studying at that time I would be a lot happy and stayed motivated. This is just an example. You can come up with creative yet fruitful ways to keep your kids motivated.
Also, I would suggest you make sure that alongside you can teach them how to be self-motivated. It works great actually for the long term.
Thus, you can utilize these ways and ensure that your kid learns “real finances.” It is entirely possible to teach your children regarding finances since they are tiny. This ensures that your kids “VALUE MONEY” and use it with proper care.
You need not worry. Once you train your children in the right way, it will make them good money manager. So, just take one step at a time. Do not be in a hurry. Your kid will soon learn the best ways to manage money and also value your hard earned money.
So, do you any special tricks or tips which you utilized with your kids? Feel free to share them.