 |
What Little Johnny does not learn...
Anyone who learns at an early age how to manage money, accounts and cards will more successfully manage his finances as an adult.
|
It makes all the difference to teach children how to be careful with money – here are some approaches to make them aware at an early stage.
- Encourage your kids to save. Do not go out and buy them everything they want. Open a savings account for them instead.
- Help them to understand money. Give them access to a post office or bank account as soon as they are old enough to have one. Ideally, choose a type of account that does not have an overdraft facility. Give your child the opportunity to practise using plastic cards. Prepaid cards, such as the Cornèr Bank card, are good starting points.
- Suggest to your children that they should work. You should not pay them for doing normal chores around the house. But if your children want to earn extra pocket money give them small, special jobs to do. Or help them to find the right job such as working in a shop in the village for an afternoon, babysitting or getting a paper round on weekends.
- Show them how to stand up to peer-group pressure. Make them realise that you do not always have to wear branded clothes or have the latest mobile phone. However, also try to be a bit lenient and find compromises. It is important that your kids feel comfortable among their peers.
