It has so much of glamour and temptations that life without them seems boring and depressing at times. It is nothing wrong in experiencing the things available in the market. More important is to understand the price we pay to enjoy the glamour and satisfy our temptations. Nothing is free we have to pay the price for everything. Money plays a very important role in our life, starting from food, clothing, shelter, education, entertainment, health, investment retirement everything requires money.
The children can learn spending, saving and handling money and enjoy life as a whole.
The fact is, it is not only important to earn sufficient amount of money but to handle it wisely such that the requirements, entertainment and investments is taken care of. The basic requirement for doing this is to understand the value of money. Parents aim to provide all possible things to their children for their happiness. Nothing wrong in it but the irony of the process is sometimes the kid don’t have the idea of the struggle and compromise the parents do for it. On the other hand they don’t value the things which are provided so easily as per their wish. It is a fact that the development all around is so fast that each and everything has a shelf value of 6-10 months, new things are in the market all the time. The reality is the income in the family is limited, and when it increases the expense also increases as time passes. The face value of the money is decreasing day by day and thing are becoming costlier. Each and everything is necessary in one’s life, whether it is education, health, entertainment, recreation, vehicles, travelling, social commitment, house, future planning and so on. Nothing can be excluded for a wholesome life.
Teaching kids the value of money is necessary and important for both parents and kids so that there never comes a time when parents have to say that there is no money when kids want something that is necessary and important. It can be started at a very tender age of 3 years The most important thing that it should be taken care of that you are teaching them as per their age which they can understand and should be done lovingly with right attitude. The feeling of grief, dissatisfaction, frustration, scarcity or insecurity should in no means be involved while teaching the value of money. It can be started with developing the habit of piggy bank 1Rs coin per day is enough for them to get a feeling that it is their own money. They can learn saving and at the same time value it as it is their own. They can purchase a toy or a candy with their money the parents can also add some money as a token of appreciation for saving money at this tender age. Most of the time children are hardly made aware of the money spent in different areas of life. As they grow above 10 years they should be made a part of the team in making budget of daily expenses. They get aware of the price of different commodities and understand spending in different areas. They can understand the power of money, what it can do to make life comfortable and if misused and mishandled can make life mess. Learning this at a very young age makes them a good manager of money in their adulthood. This can be done in a positive manner so that they understand that valuing money is important. The children can learn spending, saving and handling money and enjoy life as a whole.
