Comments on: 5 Subtle Tips To Educate Children About Money

By: Banji

Banji — Wed, 17 Dec 2008 15:31:28 +0000

CreditMom – That’s is one of the most brilliant yet simple advice I heard Thanks. If we want to teach the children the value of money, we need to allow them to learn.

By: CreditMom

CreditMom — Tue, 16 Dec 2008 21:44:04 +0000

Here’s my tip: stop buying them things. Of course that might be a bit extreme but in all sincerity, make sure they never leave home without their wallets. Then when they want something the answer is I am not buying it for you but if you think you really need this it will come from your money. I can’t begin to tell you how much money I have saved already and the kids get a true lesson in wants and needs.

By: banji

banji — Wed, 03 Dec 2008 16:59:33 +0000

Avani-Mehta – When the pocket money is fixed, we have to creatively think of ways to manage it. That is probably the basis of all financial management Thanks Avani for sharing

Leo – Another great advice. Teach via example and let them learn the rope by doing it. Get your children involved in your financial management. Hey, it’s basically their money anyway right? Thanks Leo

Susan – That is actually a new idea for me. I will personally put it in practice to my child. Thanks Susan.

By: Susan/Together We Flourish

Susan/Together We Flourish — Wed, 03 Dec 2008 12:23:45 +0000

Giving chilldren money in the form of coin is fun for them because they get more pieces. It halso elps them see how much things cost because they have to give up more things.

By: Leo

Leo — Wed, 03 Dec 2008 09:57:33 +0000

My best advice: be a great role model for your kids. Don’t shop too much, be frugal, save, keep track of your finances, invest … and as you’re doing it, teach them to do it.

Second best advice: let them learn by doing … gradually let them do the things you do with your money: earn money, save for things, pay bills, invest, and be frugal.

Keep up the great work!

By: Avani-Mehta

Avani-Mehta — Mon, 01 Dec 2008 16:06:01 +0000

I used to get pocket money – a fixed amount for buying gifts, entertainment, outside food etc. It was always a challenge to manage everything in that amount and fun too. Learnt a lot about budgeting, planning, saving etc because of this.
My parents discuss investing options with me – this helped me stay aware of available investing options and their pros and cons.