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Home » Parenting » Teach Your Child To Manage Their Own Money

7 Comments

  1. 3 January, 2019 / 11:23 am

    Yes, financial education is very important and we have to teach our children as early as we could. Thank you for sharing your helpful and practical tips. Love the idea about opening a bank account for them.

  2. 3 January, 2019 / 9:48 pm

    This is totally a subject I need to tap into at home!

  3. 4 January, 2019 / 5:52 pm

    Yes, financially literacy should be taught to kids at a young age. This is something we need to work on at home! Thanks for the tips.

  4. 5 January, 2019 / 2:53 pm

    It’s great to teach our kids how to manage their money. My husband and I has been teaching our kids to save money and spend it wisely. So far our 5 years old is doing great and we are very impressed but our soon to be 16 is not so much. All she wants to do is spend spend spend, her thing was like well even if I don’t save I know you all gonna get it. So we explained to her right away that we are not handing her anything unless she works hard for it.

    She is very spoiled at her mom and making her manage her money just doesn’t work. We warn her though that if she keep this type of attitude she will suffer in a long run because nothing is free in life .

  5. 6 January, 2019 / 12:56 pm

    Learning about finances is so important to learn at a young age because it sets them up for a future where they know how to properly manage money. My older kids use to tell me to go get money out of the money machine (atm) lol and I would have to explain to them that it doesn’t work that way. Now that they are older they are learning the importance of saving and they are also learning how fast money goes! haha

  6. 8 January, 2019 / 8:14 pm

    LOVE this! In the US there generally are not fees associated with kids’ savings accounts (what a bummer that this is not the case in South Africa), but I agree, it’s so important to set up a bank account for your children as early as possible. We set them up for our girls shortly after birth, and they are so proud every time they have some money to deposit!

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