The value of coins and bills is abstract and difficult for children to grasp. It is therefore the task of the parents to carefully introduce them to the importance of money in everyday life.

Why do children need to be familiar with finances?

Attractive advertising is being streamed every day on media and the internet such as dominoqq and propagates the latest products that you absolutely need. You fly quickly across continents on vacation and rents at home are rising regularly. If parents let their children enter the consumer world unprepared, this can lead to over-indebted young people. For this reason, you give your children an important lesson in life from their parents’ home: the right way to deal with money.

 

How do you teach your children how to handle money?

 

Games on the topic of money and finance

Small children learn through games. Having their own shop or playing a board game with play money teaches children that coins and notes have different values ​​and how much they get for it in the game. If you take the children with you to go shopping, you can expand on these playful insights.

Your good example counts

Children of all ages learn more from the example of their parents than from what they say. So when you keep a household book, let your children peek into it more often. Explain what financial decisions you are making and why.

The first account

As soon as your children are comfortable with their pocket money, start thinking about opening an account.  In many cases, as a parent, you may have restrictions on how much you can withdraw. If you instruct your children in these banking transactions, they will feel confident in handling their own finances as adults.

With a children’s depot you kill several birds with one stone:
  • Your child will learn to save money for future expenses over a long period of time.
  • They provide for the costs of driving licenses, training, and studies.
  • The next generation understands the meaning of returns and prices and gets to know various investment products.

People grow with their responsibility – and so do your children. If you are already reliable in dealing with money and have developed a certain degree of maturity as a teenager, you can agree on a budget with them. Determine the amount together and determine what your youngster has to get himself from now on.

 

Quote: " Finance is not merely about making money. It's about achieving our deep goals and protectingthe fruits of our labor. It's about stewardship and, therefore, about achieving the good society. "