Nowadays, parents are younger, how to teach their children to manage money?

Now that the standard of living has improved, many families love their children very much. However, when children are young, it is also necessary to establish a correct financial concept for them. Parents need to help their children develop a correct concept of money and financial management from an early age, so that children will know the importance of money when they grow up.

So as a parent, how can you help your child establish the right financial concept? <>

First, teach your child about coins. The first step in establishing a correct financial concept is to let children know about money. For example, on weekends, parents can prepare banknotes and coins of various denominations.

Then, in a classroom way, tell the child about the coins and what they are used for. Next, ask your child to distinguish these denominations by size, color, etc. <>

Secondly, after the child reaches a certain age, parents can let the child take the money to pay for it. When mothers need to buy low-priced goods such as salt and soy sauce, they can ask their children to help them buy for themselves. Only by giving children some opportunities for practice can we help them truly understand the use of money.

Next, it's time to help your child learn to accumulate money. Some elders love their children very much, and when they see them, they will give them some money. At this time, parents should help their children establish the concept of saving, and they cannot use how much money they have.

For example, give your child a certain amount of discretionary pocket money on a regular basis, and buy a piggy bank for your child. When your child wants to buy a more expensive item, he can take out the money from the piggy bank. <>

In the process of teaching children to save, you can also teach children to learn to keep accounts. Developing a good habit of bookkeeping is also helpful for establishing a correct concept of financial management. It can help children understand their consumption.

After the child can make his own accounts, he can let the child participate in the family financial management. Allowing children to help their mothers into daily expenses can not only exercise their children's abilities, but also make children feel that it is not easy for parents to earn money.

For example, when children are young, teach children how to use money to buy daily necessities and how to buy more cost-effective.

Children should be correctly educated and guided, and children should be cultivated with a correct view of money, so that children can learn to manage money.

Here are a few tips for teaching your child about money management:

Lead by example: As a parent, you should first become a good financial manager yourself and set a good example for your children.

Develop your child's saving habits: Teach your child how to save and make them understand the importance of saving for fiber, and encourage them to put some of their pocket money in the bank every time they get it.

Involve your child in the family budget: Take your child to create a family budget and involve them in it to keep your child informed about the family's expenses and income.

Use games to teach financial literacy: You can use games and other ways to let children learn to manage money through play.

Teach your child about borrowing: Let your child understand the pros and cons of borrowing at a loss, and always emphasize the importance of repayment. Zheng Chafang.

Encourage your child to control their spending: Teach your child how to manage their spending wisely and avoid unnecessary and excessive spending.

Here are some tips for money education for your child:

1.Plan your child's pocket money: Plan a certain amount of pocket money for your child and clearly define what he can and cannot do with the money before giving it to him.

You can encourage your child to put money in a bank card or piggy bank, so that your child can develop the habit of saving from an early age.

2.Let your child make their own decisions: Letting your child make their own decisions about their own spending can help them learn their own responsibilities and let them bear the consequences of their own spending is also a good way to educate your child.

At the same time, children will learn how to use their pocket money wisely.

3.Set an example for children: Parents themselves should also set an example and develop good money habits: saving, spending, financial management, investment, etc., children learn a lot from their parents, and developing good habits is not only useful for children, but also beneficial to the family.

4.Let children participate in family financial management from an early age: Family financial management and budgeting should let children understand and participate, for example, let children make spending plans and family budgets together, and standardize family spending, so as to educate children about the basic concepts of financial management, and make it clear that there is a process and strategy for spending dust and money.

5.Cultivate the right values in children: Children should understand that money is not everything, and this concept can be instilled from a young age.

Let children know how to distinguish between their own needs and their own desires, discourage indiscriminate spending, weigh benefits and costs, and cultivate correct values and consumption concepts.

1. Let children understand the value of money.

Many parents always like to spend lavishly in front of their children, regardless of whether the things we buy are in line with the value of the money we pay, which makes it easy for children to feel that the transaction of money and goods does not need to consider the equivalent exchange, and only needs to be able to buy back what they want. And this is a manifestation of the child's lack of the right sense of money values.

Parents usually pay attention to teaching their children how much money is worth, such as what can be bought with a dollar, and how many things can be bought with a hundred yuan, which is the price level we often talk about, so that children can establish a correct money value exchange system.

2. Let children know that money is hard to come by.

When children are young, they do not have enough money to get money, so the money that children need is often obtained from their parents. However, some parents always respond to their needs, and their children will give as much as they want, which makes children feel that money is a very easy thing to get, as long as they ask their parents for it, they will definitely be able to get it, which is easy to develop the habit of spending money without moderation.

When we educate our children, we need them to know how money comes from and how to make enough money. When the child grows up, you can also let the child get a part of the money through his own labor, so that they can understand that money is not easy to come by.

3. Cultivate children's awareness of saving money.

The awareness of saving money is also one aspect of the concept of financial management, many children are always unscrupulous in spending money, thinking that it doesn't matter if they spend it all, they can continue to find their parents to get it anyway. Parents should correct their children's thinking, cultivate a certain money crisis in their children, and let their children have the awareness of saving money.

For example, if a child wants to buy something of a certain value, then parents can guide the child to save money to buy it by themselves, rather than directly helping the child buy it. Or apply for a savings plan for your child, so that your child can save all the remaining pocket money for future use.

4. Teach children to use money wisely.

If you don't want your child to spend lavishly, you should let your child learn to arrange his own money use plan reasonably, which is also an important part of his or her financial management concept. When your child wants to buy too many things that are beyond his budget, he or she should learn to make trade-offs, arrange the order of shopping, and choose which ones are optional or can be changed to a cheaper way of shopping.

Usually, you can give your child's pocket money enough for a month at one time, and let your child arrange the expenses for the whole month by himself, so as to ensure that he still has money to spend at the end of the month, rather than running out of money in a few days at the beginning.