7 WAYS TO TEACH KINDERGARTNERS AND ELEMENTARY PUPILS ABOUT SAVING MONEY

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Introduction 

Part of being a good parent is educating your children about money. Since someone else will if you don't, and there's a strong chance that the person can't teach what you would like to teach your children about saving culture 

Below is how to help your children have a saving attitude or culture 

How to Introduce Savings  to Preschoolers and Kindergarteners

 1. Save In a Transparent Container.

Although the piggy bank is a fantastic idea, children lack a picture. They can watch the money expanding when you use a clear container. They had a $1 bill and five dimes yesterday. They have a quarter, five dimes, and a $1 bill today. Discuss this with them and emphasize how it's increasing!

 2. Be a Role Model.

According to a University of Cambridge study, kids start developing good financial habits around the age of seven.

You are being seen by little eyes. They'll ultimately notice if you put down plastic every time you go to the grocery store or out to supper. Your children will also know if you and your partner have disagreements over money. When they get older, they will be far more likely to follow your healthy example if you set one.

 3. Prove to Them That Things are Expensive.

You must do more than the only remark, "Son, that pack of toy cars costs $5." Help them take out a few dollars from their jar, carry it to the register, and personally deliver to the cashier the money. A five-minute talk won't have the same effect as this straightforward action.

 How to Teach Lower and High Elementary Pupils About Savings 

 4. Display The Opportunity Cost.

Simply put, that is another way of expressing "If you buy this video game, then you won't have the money to buy that pair of shoes." Your children need to be capable of weighing options and comprehending potential outcomes at this age.

 5. Offer Commissions Rather Than Grants.

Give your children more than just money to breathe. Pay children commissions for household tasks they complete, such as mowing the lawn, putting out the garbage, or cleaning their room In their book, Smart Money Smart Kids, Someone and his daughter discuss this system in great detail. Your children will learn that money is earned and isn't just given to them.

 6. Avoid Impulsive Purchases.

Mom, I just discovered this adorable clothing. It's wonderful and perfect! Please let us purchase it. This may sound familiar to you. This age group is extremely skilled at making the most of impulse purchase, especially when it is made with someone else's funds.

 To teach your children about money, use the greatest resources.

 Tell your youngster they can use their hard-earned commission to cover it rather than caving in. However, advise your child to put off making any purchases over $15 for at least a day. They'll be able to make that financial decision the next day with clarity because it's probably still there when they wake up.

 7. Emphasize The Value Of Giving.

As soon as they begin earning any money, make sure to educate them on the importance of contributing. They should pay their titles in church or in any place of worship they choose. They can give to a charity organization or even a friend who needs assistance. They'll eventually realize that giving has an impact on the giver as much as the recipients.

 In Conclusions 

Hope the above-mentioned points on savings have helped. In our next post, we are going to discuss "Guidelines on How to Teach Teenagers About Savings"

It's. going to be explosive, until then don't go away, keep reading.

 Don't forget to visit our main school website on : www.jacobsschools.com.ng for appetizing information, pictures, and the likes about Jacob's Schools.

Don't limit yourself to these tips alone. Visit our school blog to read more about other related posts at www.jacobsschlsblog.com.ng

 

 


 

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