It is very lucky for some kids that their parents can help them to study at a university or even abroad. It will give them the chance to have a good future and college education. Aside from that, they would be able to buy the things that they like and all the foods that they wanted to eat. This is a good kind of life that everyone is dreaming of.
It is unfortunate for some kids that they have to work at a very young age just to support their studies. They need to work harder to help their parents with everyday life. Some would not even have a decent kind of house to live and it is very hard for them to find mortgage advisor to help them because first and for most they don’t have money to pay it back and they don’t have the permanent job to support this. That is the reason why a lot of parents would teach their kids the right way to save money while they are still very young.
It would help them to come to realize that spending money is just a simple thing to do but saving and earning money could be the hardest thing to do while you are still alive. You need to do a lot of hard work and ability to save enough money for yourself. Even you work so hard sometimes, it is still lacking and not enough to support the things that you like to buy and the stuff that you want for yourself. Below are the suggestions that you can do to teach your kids to understand the importance of saving money while they are still young and able to do so.
Try to talk to them about this. Make sure that they are in a good mood to accept things and suggestions. Tell them that they can save money by keeping small amounts of coin. Sooner or later, it would grow and become a big amount. They can start by giving them a piggy coin bank or anything where they can put some of their extra money.
Try to motivate them every day, you may want to start with setting up a chart. In the chart, you can draw a timetable or even like a calendar. They need to put the amount of money that they put to their coin bank every day. It will encourage them to save more if they could see that it is getting bigger.
You can tell them that by saving some money, they could buy the toys that they like or the things that they want to buy. If they don’t want to buy anything. Just tell them that in the future you may use it for sending himself to a good university or school.
You can also teach them in a way that they don’t need to buy those things that they don’t really need. You can tell them the difference between a want and a need.