Your tips and advice is very useful in present days sceniaro. We make must future generation financial savy and responsible Indians in financial matters.
Hi, Sanjay Matai has given real good advise. No doubt my children have grown up, but this would help other parents, especially in today's situation. Thank you once again.
It is really good habit if someone adopt it. But presently most of the family has maximum one and exceptionally two and the children are so emotional that if they want something from their parent and parent tries to avoid their demand by any way, children may go to suicide too.
Please take lesson from the article but side by side try to read your childrens motives also
RE:10 ways to make kids money smart.
by Dr. Ashish Urkude on Nov 28, 2006 06:48 PM
Great Efforts. I shall remember whenever I have juniors in my home after my marriage. These are the experiences which can enlighten the next generation. Thanks.
My son is 4 years old. I gave him a piggy bank in a shape of an apple. I give him coins to put into it. I told him that it is his money and after the apple is full, we would break it and buy whatever he wants. He is eager to break the apple and get the money. But he knows that if the apple is full, there will be more money and he will be able to buy a big car(TOY) for him. He is so happy when he puts the money in it ! Sometimes, he opens my purse and takes 10 -15 coins at a time. I tell him that it is MY money and he should not take it all. I give him some, so he understands the difference between HIS money and his MAMA and PAPA's money. He also now understands the importance of saving. Because he is not going to have a BIG car till the apple is full. So he religiously saves money in it. I believe that small children should be encouraged to save money and handle small money transactions. I send him to a nearby shop to buy biscuits, breads, milk and toffies. I give him exact amount because he can not count yet. Actually, now I am also waiting to break the apple and get a BIG car for him.
