Popular Techniques in Teaching Children of Money

Teaching our children about the importance of money is an integral part to their growth. According to many experts, it is with this that parents teach their children of discipline and patience.

But how can parents teach their children about the importance of money? The reason why it’s important for parents to teach their children of the importance of money is because, for children, toys and other things are given as gifts, not bought. And if children grow up with this practice, like most children brought up by wealthy families, they may develop a lack of value for money.

According to many Parenting Philippines tips, here are some techniques that many parents have used to teach children about money and how to spend it wisely:

We Don’t Have Money One of the most popular techniques off the book is the use of the phrase, “We don’t have money.” Simple as it is, this teaches children in patience. However, most parents have made the mistake of leaving out the part why they don’t have money. It is important in this phase of why parents cannot provide their children of their “wants”, like a toy. Explaining to them this important part will teach them of discipline.
The “Ice Cream” Method Now this may not only involve ice cream, buy a number of parents have used this to teach their children about the importance of money that not all things are given as gifts.

One way of doing this is to tell children that if they bought that toy, or anything, then they wouldn’t have enough money to buy them ice cream, or anything as important to a child. According to latest Philippines Lifestyle tips, this teaches children of weighing things as important or not.

Save Up Another important method of teaching children of the importance of money is by letting them keep some money, or change, and tell them that if they have enough, they can buy anything that they wanted.

This method is one of the most important as it teaches our children of how to handle money, if only for change. This teaches them that money is what will allow them to have what they want, and if they waste their money on other things, then they may have to save again to get what they needed.