Do you know how kids money handling habits develop? Some of the methods come from television and some from their friends. However, most of their saving and spending habits are copied from their parents. When the parents pay bills on time and keep a balanced checkbook, the children are sure to notice as they grow up.
Children and teens are most likely to get all their cash from birthday gifts their relatives give them. Some can spend it the way they want. Others are taught to save at an early age.
There may be a rule that they have to save a portion of the allowance and gift cash towards college education needs. Others may be taught to give a small amount to charity. Most do not have to buy their clothes or anything at that level of expense. If they have a specific pair of shoes they want, they may be asked to pay a part of the cost.
They may have to pay for their own portion of insurance if they want to drive the family car. Younger children may have to pay for an expensive toy if they want it. TV advertising compels them to want a lot of toys that look like fun.
When a young child wants to visit the mall and the candy store there, he can use his allowance. That is, if he can save part of it until shopping day comes. If he has spent all the allowance by then, next time he may be wiser and more careful about spending his allowance at the beginning of the week.
A kids money will never last as long as he or she wants it to. This is one of the lessons in life that help to prepare him or her one for the real adult world. He will learn to appreciate how much everything costs. Learning that it is good to budget his funds will help him financially all through life.
Children and teens are most likely to get all their cash from birthday gifts their relatives give them. Some can spend it the way they want. Others are taught to save at an early age.
There may be a rule that they have to save a portion of the allowance and gift cash towards college education needs. Others may be taught to give a small amount to charity. Most do not have to buy their clothes or anything at that level of expense. If they have a specific pair of shoes they want, they may be asked to pay a part of the cost.
They may have to pay for their own portion of insurance if they want to drive the family car. Younger children may have to pay for an expensive toy if they want it. TV advertising compels them to want a lot of toys that look like fun.
When a young child wants to visit the mall and the candy store there, he can use his allowance. That is, if he can save part of it until shopping day comes. If he has spent all the allowance by then, next time he may be wiser and more careful about spending his allowance at the beginning of the week.
A kids money will never last as long as he or she wants it to. This is one of the lessons in life that help to prepare him or her one for the real adult world. He will learn to appreciate how much everything costs. Learning that it is good to budget his funds will help him financially all through life.
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Teach Kids About Money Start developing your child's financial skills. Start developing your child's financial skills. Allowance for Kids is a topic that can taught easily and effectively.
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