When you’re a kid, you view your parents as an unlimited source of money. You ask them for everything, and expect your parents to oblige, within reason. Now as an adult with your kids, you realise just how awful it must have been for your parents always to hear you going on and on about getting a new toy or going somewhere expensive. It is now that you realise just how hard it is to earn money to make sure that your kids can get the odd treat, holiday or toy they really want. However, you will want to teach your children the importance of money at their young age, because it can help them become better at handling their finances when they join adulthood!
To help them get started, here are a few ways you can teach your kids to help you and your family save money:
There are plenty of benefits to recycling. You will be helping to reduce your family’s waste, and you can let your children’s creativity loose. Recycling is an excellent opportunity for your kids to learn about caring for the environment. You can gather the used bottles and old magazines and books to allow your kids to use them in art projects and more, saving you money on paper and more expensive craft materials. Give a kid a large cardboard box and a few pens and they can make a den they’ll be happy in for hours – free entertainment!
Car Boot Sales
As time goes on, your children will outgrow their clothes, and stop playing with toys. It’s all part of growing up. Allow your kids to pick out some of their belongings that they are ready to part with and have them help in setting up the display and tagging the items.
You can even let them manage the money they make from their sales, if you think they are old enough for it. This can build their confidence and teach them how to give change and learn to appreciate what things are worth.
Movies and books can cost you money and take up space in your home. Take your children to the library where they can have access to all the books they can read and even movies to watch. The best part is that all of it is available for free. At the library, they can learn the joys of reading all while making friends.
You can even take it a step further by asking the librarian about programs that your child can get into, as libraries are known for their many programs especially over school holidays for children of all ages to help them discover the magical world of books and reading
Encourage Creativity as Presents
A lot of times, we choose to buy presents as it is more convenient; however, a present means a lot more when it comes from the heart. So, encourage your kids to create something like a card or a personalised gift for their friends and family members. They will appreciate it more, and your kids will learn that the best presents aren’t always bought.
You can even join in on helping them with their birthday cards and teach them how they can make these even more special with a short poem or a rhyme that is sure to stick to the recipient’s mind.
There are plenty of benefits to teaching your children how to save money. It helps them develop an essential habit for their adult years, and it can make it easier for you as parents because you don’t have to worry too much about your children spending all of their allowances in one place. It’s also a good idea to introduce money-saving tactics to your kids when you decide to take on a substantial loan, like a car finance option, so that your kids can help you save money.