Parents, all over the world want their children to learn about everything - from music and math to rocket science and every other subject to build their kid's life best. However, they forget the most important and basic matter of financial decision. Important lessons about money and saving for child will teach them to make better financial decisions for them later in life.
Engaging children in a fun-filled discussion about what money is and how it works will help them learn the value of money. Such discussion can further lead to topics like how and why to save money, how to earn it and how to spend it wisely.
It is good to make a child learn about money and its value as soon as he/she is able to count. For a very young child, a piggy bank will serve an interesting way to save where they can see their savings, while a teenager will feel more important and responsible by himself if the parent opens a bank account for him.
There are banks and other financial institutions which make saving for child a fun and interesting process. There are number of organizations provide wonderful resources about saving for child. Discovering such resources will help kids learn important lessons about money. All such money saving practices will help children interested in saving and learning about money over the years.
Today it is well understood that children learn almost everything from their parents, and money is no exception. A recent study shows that more than 80% of college students say that all they know about money and personal finance is they learnt from their parents. In this case, it is important to set up a good example at home with good money management.
It is important for parents to spend responsibly as well as to save significantly. Saving for child is most important for their higher education. Start early to save enough and discuss it with a kid to show that his/her parent is ready, so he/she has to be.