Kids money is important to them. It gives them the opportunity of learning about equal saving and spending. It will also, hopefully, teach them how to be responsible with it over time. Children will be given a jump start on managing their finances for life when the have been given a chance to earn, save and spend when they are young.
There is a certain sense of accomplishment and pride when a child earns it. Their feeling of self-worth is nurtured. The ability to earn grows with the child.
Very young children can help with minor household chores such as tidying their room, gathering up their laundry, setting their clean clothes in their dresser drawers, or perhaps drying dishes or taking them out of the dishwasher. Weekly chores done well and rewarded with financial remuneration provide children with a sense of self-respect, responsibility and accomplishment.
Their services and time are worthy of respect and they learn this at an early age. Children also learn to respect the work of others when they can earn wages by mowing lawns, shovelling snow from driveways and sidewalks or managing paper routes. They learn that a job well done deserves monetary payment regardless of who is doing the job.
A child can save their pay in a piggy bank in their room. They can save it in a bank account. Even a 5-year old child will feel very grown up with their very own bank account, held in their own name. It would be wise to open a savings account only for a young child, so they can watch their account grow with every deposit.
When kids money is earned, they have been a chance to cherish their earnings and will have learned the importance of the dollar so as to hopefully foster good management for their future. As they grow, and their savings grow, kids will appreciate the benefits of equal saving and spending their earnings.
There is a certain sense of accomplishment and pride when a child earns it. Their feeling of self-worth is nurtured. The ability to earn grows with the child.
Very young children can help with minor household chores such as tidying their room, gathering up their laundry, setting their clean clothes in their dresser drawers, or perhaps drying dishes or taking them out of the dishwasher. Weekly chores done well and rewarded with financial remuneration provide children with a sense of self-respect, responsibility and accomplishment.
Their services and time are worthy of respect and they learn this at an early age. Children also learn to respect the work of others when they can earn wages by mowing lawns, shovelling snow from driveways and sidewalks or managing paper routes. They learn that a job well done deserves monetary payment regardless of who is doing the job.
A child can save their pay in a piggy bank in their room. They can save it in a bank account. Even a 5-year old child will feel very grown up with their very own bank account, held in their own name. It would be wise to open a savings account only for a young child, so they can watch their account grow with every deposit.
When kids money is earned, they have been a chance to cherish their earnings and will have learned the importance of the dollar so as to hopefully foster good management for their future. As they grow, and their savings grow, kids will appreciate the benefits of equal saving and spending their earnings.
About the Author:
Teaching-Kids-About-Money.com have a lot of great resources. Come to our website for more information. Teach Kids Money Kids learning about money should be enjoyable and make sure you set goals for them.
0 comments:
Post a Comment