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How to teach a child to save: experts reveal 3 tricks
02.08.2024 22:06
Each person's relationship with money is formed in early childhood.
Therefore, it is worth initially teaching children the basics of financial literacy.
Any successful person who achieves results on their own often demonstrates practicality. Such people know a lot about saving and do not spend money on useless things.
How to teach a child to save money?
Explain the difference in price
Children do not understand why you choose this or that product. They want to buy the brightest and most colorful one. Such products are always more expensive.
Explain how the price is formed and why you shouldn’t overpay.
Practicality
It is worth teaching children modesty. There is no reason to buy a new smartphone if the old one still works well. There is no urgent need for a new pair of shoes just because the child really liked them.
It is worth explaining that this approach will help make life more independent in the future.
Example
Try to demonstrate practicality too: do not give in to emotional impulses when shopping, do not spend a significant portion of your funds on useless things and plan your budget wisely.
