How To Teach Children About Money
| Money : Money Management One of the most important lessons in life for children to learn is the value of money. Too many children either do not appreciate money or take it for granted. So how can you teach them the value of money, and how to respect it but use it wisely? Well, the best way is to start giving them pocket money, and then monitor how they spend it. If they naturally save it, great, but most will just spend it all. When they do, explain the consequences - when they want something but can't afford it explain that if they had saved some money then they would not need to ask for more. By little lessons like this drilled home over a period of time, they will learn the value of money and that it is a good idea to save some wisely and budget. As they get older, you can even talk about budgeting money, and of course help them to open a junior bank account to save money. By learning good practices early on, they will be accomplished with money later in life.
 Questions about money management:
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