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Mistakes parents make when teaching children how to handle money
31.07.2024 11:47
Modern parents are encouraged to teach their children financial literacy. And while such skills are not taught at school, parents try as best they can and, of course, they make mistakes.
Experts talked about the most common mistakes parents make at this stage.
Mistake number one: not talking about money with children
You can't avoid questions about money that your child asks. There's no shame in that.
Parents should convey to their child the main idea that he can always ask them questions about finances.
The second mistake: strict economy
Financial literacy does not mean teaching a child to deny themselves everything, just so that there are always large sums of money in their wallet.
It is necessary to explain what should be saved on and what should not be saved on.
If, in response to an offer to buy a beautiful, good and useful thing, a child hears that it is very expensive, then he will develop the wrong attitude towards money.
Mistake number three: the shopping list
Most purchases are made impulsively. You can save money without harm if you go to the store with a shopping list. Both adults and children should know this.
Mistake #4: Money is only for adults
Children should have their own savings, albeit small. The funds they have saved can be spent on personal purposes. Parents can only give advice.
Mistake number five: financial problems
If a difficult financial situation has arisen in a family, then the parents should resolve it without the presence of their children.
Mistake number six: pocket money
They allow the child to master financial literacy in practice. Moreover, money must be allocated strictly once a week or a month.
And if the child spends them in a day, then he should understand that the next replenishment will not be soon.
