How to teach kids value of money | money management for kids

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Best Parenting Coach Harshita

Best Parenting Coach Harshita

9 ай бұрын

Welcome to our exciting Money Management Series! 🌟
In this series, we kick off with a fantastic activity perfect for children aged 13 and above. Get ready to embark on a fun and educational journey that will teach your little ones valuable lessons in money management.
Certainly! Here’s the content formatted in a more structured way:
Activity: Teaching Children Money Management
Materials Needed:
4 Jars
Labels for Jars: “Saving,” “Spending,” “investing” and “Sharing”
Instructions:
1. Label the four jars as follows:
“Saving” jar: 30%
“Spending” jar: 45%
“Investing” jar: 20%
“Sharing” jar: 5%
2. Teach your child to allocate their money into these jars. The money can come from sources like pocket money, gifts from relatives, freelancing, tuition or earnings from weekly household chores.
3. Explain the purpose of each jar:
“Saving” jar: This jar is for saving money towards big wants or goals, like an expensive toy or tickets to an amusement park.
“Spending” jar: Money in this jar is for daily expenses and small purchases.
“Investing” jar: This jar is for future security, teach them to invest this amount in SIP, Mutual funds, or invest in other places
“Sharing” jar: Encourage your child to regularly donate the money in this jar to those in need. This teaches them the value of giving back to the community.
4. Emphasize that while their needs are your responsibility, they can use the money in their jars to fulfill their wants. This helps them learn financial responsibility and prioritize their spending.
5. Make it a weekly routine to empty the “Sharing” jar by donating the money to a cause or person in need. This instills a sense of empathy and social responsibility in your child.
By following these steps, you can help your child develop essential money management skills while also fostering a sense of generosity and empathy towards others #money #management #reels #new #viral
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Disclaimer: Contents in the video are just a piece of advice out of years of Personal Experience & Research. Hence, We do not claim any guaranteed outcome or results for the same.
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