How To Teach Your Child Financial Literacy
The knowledge and skills needed for a lifetime of financial security.
L is for the way your kids love saving money…
Let’s face it - February is the universal month of L-O-V-E. Everywhere you look, there are hearts and chocolates and valentines, oh my!
And since love is in the air, this is the perfect opportunity to show your kids just how much you care.
So, how will you do it?
- A box of chocolates?
- A heartfelt letter?
- An educational lesson on the art of saving money?
Ok, the last option might not be your first (or second) choice, but… maybe it should be!
Think about it. There’s really no better way to show love than teaching your kids how to love saving money and how to use it wisely. Seriously! Money is the center of so many life decisions – wouldn’t it be great if your kids didn’t have to worry about it in the future?
But, what does love have to do with money?
Check out this definition from dictionary.com:
Love (verb): to need or require; benefit greatly from.
Think of it this way, just like a plant loves sunlight, your kids should love saving money – it is something they will benefit greatly from. But first, they need to learn how.
So, what steps should you take?
Baby steps, of course!
- Open a savings account.
- Teach your kids how to make saving a habit. Have them deposit money in their accounts on a regular basis. Once it becomes a habit, it will become a way of life.
- Take a few financial literacy courses together.
- Stay positive! Learning to love saving money won’t happen overnight, but will have great long-term results.
When you love something (like your kids), you want to take the very best care of it – and the same goes for your finances. Taking the time to teach your kids about saving will help them learn to cherish their money and will instill a love for saving that will be beneficial for their future.
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