| Teaching children financial responsibility is one is of the | | | | heart on something they really want sit down with |
| most important things you can do as a parent. Money | | | | them and develop a plan for how they can earn the |
| affects most every aspect of our lives and financial | | | | money. If you just give them what they want every |
| irresponsibility is the cause for most divorces and | | | | time they have a notion your children will not learn the |
| credit problems in general. Here are 6 techniques to | | | | value of money. Teaching children to learn while they |
| help you. | | | | earn is a gift from you to them. |
| 1. Set a good example. Children are very aware of | | | | 5. Comparison shopping. When you take your children |
| what is going on around them and they will start | | | | shopping it is probably a trial for you. Something I have |
| questioning some of your actions. Take using a credit | | | | done is I tell my children to find me the best price on |
| card for example. When I fill up sometimes my little | | | | certain items. You can even get them little hand held |
| children will ask me why I use a credit card if they are | | | | calculators and teach them how to figure prices based |
| bad. I have to chuckle at how intuitive they are. But this | | | | on ounces. You will be surprised how this will turn your |
| gives me an opportunity to explain to them the proper | | | | shopping experience around. |
| use of a credit card. | | | | 6. Stock market. Whether you know it or not you are |
| 2. Take time when your children are young. Many | | | | investing in the stock market. If you have a savings or |
| times you are in a hurry when you are out and about | | | | checking account then right now part of your funds |
| so you do not take time to answer your children's | | | | are invested everyday. Get some books from the |
| questions. I know it can be frazzling but think a few | | | | library or use the internet to start educating your |
| years down the road. You will want to explain things | | | | children about the world markets. So many things are |
| about money to them but they may not be asking | | | | in the news and your children will become very money |
| because they already know all the answers. Take the | | | | savvy. |
| little extra time when they are small. | | | | Children can learn to be financially responsible when |
| 3. Use a budget. Every family needs a budget that is | | | | you as a parent start early and teach them by |
| reasonable and that they can stick to. A budget can | | | | example. Let them be part of the solution when you |
| also be used to teach children financial responsibility | | | | are shopping and trying to make good decisions. When |
| because you can explain to them that you only have | | | | they want something show them how they can earn |
| so much money to spend on certain things. This will | | | | the money with your help. Do not forget the world |
| help you when you are at the store and your child is | | | | markets as a tool for teaching your children. Discuss |
| asking for everything they see. | | | | financial concepts. Like me you can learn a lot as well. |
| 4. Delayed gratification. When your child sets their | | | | |