Money Lessons from Parent to Child

1. Money Lessons from Parent to Child Children must learn about money in order to live a happy and secure life. This knowledge is gained by observing parents' behaviour in terms of how they manage their wealth and the habits they strive to instill in their children. According to T. Rowe Price's 11th Annual Parents, Kids, and Money Survey, one major disadvantage is that nearly half of the parents are hesitant or miss opportunities to share financial knowledge with their children. Half of the surveyed children, on the other hand, were eager to learn about money and how to manage it and wished their parents had taught them more about it. Despite being burdened with work and other responsibilities, parents can take up easy and foolproof ways to instill good financial values in their children. A brilliant way to do this is via entertainment. There are many movies around this theme, and we are here with some suggestions! Take a look at the list of the Top 10 Movies Movies To Binge Watch here. Top 10 Money Money Give them a feel of how transactions take place Give them a feel of how transactions take place Begin teaching children about money before they reach the age of seven. According to research, this is because money habits are instilled in them by then. To begin, explain the distinction between coins and cash and what they are used for. Take them to stores and demonstrate how transactions work. Explain to them the magic of savings Explain to them the magic of savings The first thing children associate with money is the ability to obtain things by exchanging it for the desired object, making it almost a magical tool for obtaining what they desire. As a result, it is critical to inform them about the other aspect,

2. namely savings. Saving money is not only a necessary habit, but it will also improve their financial planning sense. Teach them how to earn money Teach them how to earn money Giving children their own allowance is critical for behavioural development and maturity when it comes to developing decisiveness and managing finances later in life. However, make certain that they understand the effort required to earn money. Make them work for their allowance before giving it to them. It could be as simple as cleaning their room or completing their homework on time. Children place a higher value on money earned through hard work and are more cautious about how they spend it. Read more about the money lesson money lesson