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The Principles For Teaching Good Pocket Money Habits

Teaching some good money habits to kids can save them from making some major mistakes in the future. The economic crisis indicates that every parent should start developing good money habits in their kids (from the age of three) to establish a well-founded financial base. Explain clearly the purpose of pocket money. Young children can use piggy banks or money boxes for their savings. Give pocket money every day, week or month, according to the individual circumstances. Help them keep a record of income and expenses, using a notebook or a mobile phone app. Financial literacy for kids is important, but is not a source of happiness. Explain that family and friends are the greatest sources of happiness. Show your child that nature, music, art, charity and many other important things in life can be enjoyed at little cost. For more information please visit here https://thebaddaddy.com/free-report/

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The Principles For Teaching Good Pocket Money Habits

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  1. The Principles For Teaching Good Pocket Money Habits Did you know that kids as young as three years old can understand the theories of spending and saving? Teaching some good money habits to kids can save them from making some major mistakes in the future. The economic crisis indicates that every parent should start developing good money habits in their kids (from the age of three) to establish a well-founded financial base. Here are some important lessons about money that we should all impart on our children to help them take control of their financial futures. Explain clearly the purpose of pocket money. Stick to your principles, including the following: Give pocket money according to a regular schedule. Do not casually offer an extra amount. Young children can use piggy banks or money boxes for their savings. Older children can do the same with a bank account. If your child has an Octopus card, do not use the auto value-adding service on it. Let them add value themselves, using cash from their pocket money. Help them keep a record of income and expenses, using a notebook or a mobile phone app. Source: www.ifec.org.hk www.thebaddaddy.com

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