If you have children, you must have noticed those strange intonations your child has or a habit to leave toys around the room. And you definitely understand who the example for imitation to your children is.
Kids are following our lifestyle and copy almost everything we do. And it’s normal, as they learn to deal with this world looking at us. When they grow up, they also copy your attitude to money and the way you manage your finance. So you should be surprised when you see your child always relying on fast borrowing online, if you are always financially dependable.
So to protect your kids from your own negative money management you should teach them to behave with it thoughtfully and always learn new financial options. They need to understand that money is only an instrument to get what they want, but not the goal f life. This idea will help them in their future real life, so make sure you teach them all important lessons and habits dealing with money.
To be a great example of financial manager you as a parent should avoid the following habits.
Having No Shopping List
The most common reason people are always lack of money is that they spend it thoughtless. Make it a habit to plan your purchases and always write a list of necessary items before you go shopping. This will teach your children to appreciate money and pay attention to the way they spend it.
Impulse Buying
Nowadays world is full of advertisement, Internet offers and other different ways to attract your attention. The problem is that in such way you are made to spend money on items you even might not need just because there is a great deal and the price has been reduced in two times. Yes, it’s a great attractive deal, but you should think twice to understand if you really need this item. In most cases people make such purchases just not to miss the deal. However you should explain to your children that these advertisements are made to control you and manage your money. Make your children understand that they are the only ones who have the right to manage their money and they should appreciate this right.
Having No Limits
Treating your children is an ordinary behavior of parents. But not to spoil them, you should set some limits your children must appreciate. You can determine the amount of money they can rely on going to the restaurant or having entertainments, so they can understand that they have definite money they can spent. Such attitude will show your children that there are always some limitations and it’s necessary to learn to live within them. This will help them in their real life.
Not Explaining Savings
You might be a great saver, but your children simply don’t understand the reasons you don’t let them go to the swimming pool or buy new toys. You need to learn your children saving. But your mistake is that you don’t talk to them, so they just don’t understand the link between these limitations and savings. To change this you should make it clear that having no extra toy will result in longer vacation, for example. You can also make a moneybox and teach your children to save all change they have. In such way they will easily understand that all not spent money will be used for better desirable goal.