Teaching Kids About Money in a Few Simple Steps

teaching kids about money

One of the most difficult things for many parents is teaching kids about money matters.

These days youngsters are used to spending money and handling their own cash more than ever before. However, that doesn´t mean that they can´t do with some sensible saving money tips.

Pocket Money and Ways for Teens to Make Money

As already mentioned, kids are now used to spending their own money. This is great as long as it is handled in the right way.

For example, it makes sense to give them pocket money to get them through the month, rather than allow them to come and ask you for cash whenever they need it. You´re not their private bank, after all.

This you Tube video covers some of the main points concerning pocket money worth bearing in mind.

Even better is the idea of getting them to earn some of their own money. It will help you and it will help them even more.

There are lots of ways for teens to make money these days they could advantage of. Your kids will feel good about themselves for making money and it should make them value the cash more too.

There are many interesting ways for teens to make money now, with the internet offering some particularly good ideas. Videos like the following one could give them some useful ideas.

Share Tips on How to Save Money

Of course, there are two sides to having better finances; making more money and spending less.

While earning more is a fantastic move, it is probably even more useful for youngsters to learn how to spend less. This will allow them to live sensibly even if they go through spells of not earning a lot of money in later life.

The first point to get across them is about tips on how to save money. Looking for bargains and making sensible purchases can help anyone a lot in their life.

After this, they could use some saving money tips that help them to put away some cash for the future and get into the habit of saving. Here are some saving tips on how to save money to get you started in this video.

Lead By Example

There is no point in teaching kids about money if you they then see you frittering away your salary every month.

In fact, when you show your children how to manage their money better this can help you too. The same principles of spending less and earning more apply to all of us when we try to improve our finances.

If you have been lax about your finances in recent times then sitting down and talking money with the kids could help you get your own focus back.

For those people who need to improve their financial health before teaching the kids the next video could come in handy.

Let Them Show You Their Saving Money Tips and Ideas

You shouldn´t forget that you kids might have some ideas of their own with regards to their money. You have the benefit of experience on your side but they could still have some great ideas worth taking into account.

Obviously the more your kids feels that they are in control of their own finances the more you can expect them to stick to the plans. Let them work out a few ideas and encourage them to be financially sensible all the time.

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