Instead of telling children about the joy every penny they earned brought, parents need to think about their children's financial literacy.
The thing is that it was not customary to talk about finances with children before. Incidentally, this is one of the reasons why many people still treat savings carelessly.
Experts have revealed what mistakes parents make that lead to children growing up financially illiterate.
First of all, it's a taboo topic.
Usually in such cases, when children ask about money, adults say that the child needs to grow up first.
On the contrary, it is worth encouraging the child's interest in understanding finances. If possible, explain everything that interests him or her, otherwise there is a risk that your son or daughter will only squander their property.
Secondly, only savings
Most people are sure that only those people who save money have money.
But you can’t save on vacations, quality food, warm shoes and clothes.
Explain to children that even if you manage to save on this group of goods, you will have to spend it all on medicines later.
Third, planning
It is important to make a list of expenses before going to the store, and also have a spending plan for the month, year, and the long term.
Fourth, don't stop your children from earning money
Sooner or later the child will start having money.
Encourage the desire to earn money, explain how to increase savings and how to spend.
Fifth, financial problems
But what children definitely shouldn't know is that there are financial problems. It causes anxiety and other stress.
You can plan expenses in their presence, advise them on choosing a profession, but you can’t complain that you constantly don’t have enough money.
And the last mistake is to deny your child pocket money.
If he doesn't have money, how will he learn to manage it properly?
