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The Latest Debtfree DIGI

Monday, March 23, 2009

Making finance child's play

So many adults are in financial difficulty at present. Experts are urging parents to teach their kids about finances. The trick is to start early.

Most children when asked where money comes from will say:"Daddy".

Children need to be taught certain fundimentals such as seperating needs from wants, how to save money of their own and how to "invest". By doing so you can help your children avoid future money woes.

Steps you can take:

1) Be a good example.

2) Set limits. Discuss how much they can spend. Set limits with them and stick to them.

3) Allow your kids to manage their own money. If your kids are getting "pocket money" then allow them to decide how to spend(or save it).

4) Teach them to share. Encourage your kids to share what they have with others.

Your children are the future earners and spenders of our economy. Help them to avoid the common pitfalls that lie out there in the world of Credit. The sooner you start training your kids to handlle their finances the better.

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