March 19th, 2010 by Astri

Whether we realize it or not, sometimes you as a parent give the wrong idea to your children about managing money. Although you have the good intentions, but sometimes your ideas or opinions are actually making the children often use the money for things that may not be so important. Perhaps the tips below will help you and your children to manage the money.

Understanding

If you take the kids out to shopping, and they ask to buy a toy, while you do not have much budget for it, you can give them understanding about the value of the money in your child. If you would prefer to buy new clothes instead of toys for them, you can explain to them why you bought new clothes and not a new toy. This is very related to the level of needs that should take precedence. Make the children understand about this.

Needs, Wants and Price

Buying based on the need and buying based on the desire is something different . Not to mention the price issue. You can explain to your child about the different prices for similar goods. If you can buy the same goods at a lower price, you certainly can still save money for other needs. In addition, you can also teach your children to save the rest of the money.

Managing Finances

Allow your child to manage their allowance well. If they have run out of pocket money, you may consider not giving a guarantee or assistance. Except, for the things that are urgent. Let them manage their finances properly. If they apply wasteful or buy things that are not important when they have the money, let them not get anything when they run out of money. From this case, they will learn to be more careful in managing their finances.

Money is Not Everything

Do not ever replace your attention and love to the children by giving them money. Maybe you do this to make your children buy any of their favorite things as a substitute, because you cannot give time off to be with them. One time, two times, maybe you managed to make them happy. However, if you do this continuously, this will be a negative impact for your children growth. However, the money is not everything. The love and your attention are everything for the children.

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