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How to Raise a Financially Literate Child: Experts Reveal Secrets
13.03.2024 11:54
You've probably noticed that even among adults there aren't many truly financially literate people.
The reason is simple: smart parents teach this art from an early age.
How to Help Your Child Grow Up Financially Literate
Be a great example
If you are doing well financially, your child will also absorb a positive behavior model. Do not give in to emotional impulses when shopping, plan your expenses and explain this to your children.
Experts note that this approach is one of the most effective.
Tell us about advertising
Sometimes children ask for things, toys and food that they saw in the advertisement. Naturally, these items will cost much more.
Explain to children that a popular product will be no better than unknown analogues, but it will help save money.
Set aside money for expenses
Starting from a certain age, children can be allocated monthly funds that they can use at their own discretion.
This will help them apply their knowledge in practice.
Avoid unnecessary shopping
If a child sees that his parents themselves "squander" money, then he himself will learn to behave in this way. Therefore, try to keep your emotions under control.
This will not only help teach your child to use resources correctly, but will also improve your financial situation.
Don't forget about conversations
Children do not immediately understand the essence of money and expenses: this knowledge comes with experience. Parents are advised not to avoid talking about finances, but to involve children in them.
Previously, we talked about why children don’t want to read and how this situation can be corrected .
