In modern society, it is what every parent should do for boys to have a good habit of managing money from an early age.
Parents should not only tell their children what money is, but also teach them how to manage their money. A great way to develop financial literacy is to teach your child how to save money and then teach them how to invest.
Let me give you two examples.
The first example is Tong Tong. His family's conditions are very good, and he usually has a lot of pocket money. Because he can get money from his father, mother, grandparents, and grandparents. Because money comes too easily, children don't know how to spend money sparingly, and they always spend lavishly. Later, he hung out with some bad boys and was arrested at the police station for robbery.
The second example is Mao Mao. His family's conditions are also quite good, but Maomao has learned to save money since he was a child. He divided his pocket money and New Year's money into two parts, one part for the time limit and the other for the survival period. In this way, his money can be used for daily expenses while earning interest. Later, his father also taught him to buy bonds. You see, two different ways of education, the results are completely different.
So, it's really important for boys to learn how to manage money. Only by learning to save money will they cherish their money, and only by learning to invest can they survive in a highly competitive society. Parents must pay attention to it and teach their children how to manage their finances.
Advice for young parents is here!
Method 1: Cultivate boys' financial skills from an early age
Financial experts say that if you want your child to learn how to manage money, you have to start from a young age. In this way, children can not only learn not to spend money indiscriminately, but also take care of themselves when they grow up and live a stable life. For example, if your child wants to eat ice cream, but the ice cream is a bit expensive, you can tell him, "I can only give you one part of the money today, and another part tomorrow so you can buy it." In this way, the child will slowly learn to save money.
When your child reaches the age of six or seven, you can teach him to save money for the things he likes. You can help him make a plan and tell him how much to save every day and how many days he can buy it. In this way, children will appreciate what they buy with their own money more and will understand the truth that little money adds up. However, remember that children have limited patience and should not save money for too long, otherwise they will lose interest.
Method 2: When your child is a little older, open a bank account for him
An American education expert said that children can divide their pocket money into three parts, one for daily necessities, one for saving money for large items, and one for long-term storage. In this way, the child will have a greater sense of financial management and will be more interested.
You can take your child to the bank and open an account in his name. When children see their names printed on their certificates of deposit or passbooks, they will feel that they have grown up and will value their money more. Moreover, this can also make the child understand that money cannot be withdrawn from the bank casually, and it must be earned and deposited first, and then it can be withdrawn, and some interest can be obtained.
Method 3: Let your child know that money is hard to come by
When your child begins to understand the concept of money, every time you give him pocket money, you have to tell him that the money is earned by the hard work of his parents, and he should cherish it and not waste it. In this way, the child will cherish every penny more.
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