“To prevent financially ignorant, unprepared, vulnerable children being sent out in the world on their own, parents must be willing to invest time in their children to teach them how to become wise stewards of their resources.”-Philip Nortje Parents love their kids and most would, if they could, buy them the world. In today’s economic climate, however, buying for your kids is often just not possible and can lead totrolley-time-tantrums: Parents trying to hush their screaming child is a common sight whileshopping and may lead others to think that the child is spoilt. Most often however, this is not the case. Children are children after all, and most lack the fundamental understanding of money, and that that yes, mom was actually right: Money does not grow on trees. This leaves anxious parents, eager to bring calm to a screaming shopping aisle, often giving in to their child anyway if it means fewer looks from fellows hoppers, and an afternoon of peace. It’s all understandable, and yes, Mom and Dad, we empathize. As such, Kirsten ReynoldsWood, Brand and Marketing Executive at GetBucks, has offered some valuable tips to help parents teach their kids the value of money. After all, financial rearing can never start too early and can leave a long-lasting legacy of good financial habits.
1. Teach the idea of ‘value’. Have fun doing it! 2.Teach the idea of ‘earning’.
3.Teach the idea of ‘want’ versus ‘need’.
4.Teach the idea of ‘saving’.
As a parent, we acknowledge that you always try to do your best to empower your kids to be financially smart and turn those trolley-time-tantrums into budget-savvy kids is the best life-long gift you can get your child – and it’s free!