Exposing your Child to the Financial Realities of the world.
Teaching children about money means to show them the realities of what can happen in life. There are times in your life when you will be low on money, things happen on the news where you will have to explain to them what’s happening .
Below are a few of the most common realities of life these days that are happening.
1. Global Financial Crisis – Teaching kids about money in regards to this crisis means telling them that a lot of people are under immense pressure for the businesses they own. They may not be doing so well, therefore it can affect their lives and what they can buy. Explain to them that this is happening to the whole world because of some bad business choices from banks and that this is a temporary occurrence and won’t last forever.
2. Losing your job – we may lose our jobs in our working lives because of retrenchments or that you having been not been performing well. When we teach kids about money, we have to let them know that this is a real reality, that parents may lose their jobs from a variety of factors which means they will have to do without a few things before they can find another job.
3. Don’t hide the truth – if you and your spouse are quite uneasy because of bad financial decisions or the loss of a job, explain this to your child. Teaching kids about money here means not hiding what is happening. Tell them straight up that the family will be cutting back on expenses.
4. Some items that your family just cannot afford – when teaching children about money we have to advise them of how much things actually cost. If there was a massive television that you all saw in an electrical store and your child says if you can buy this for them, just tell them that you are not able to afford this because of the limited finances that are available and that what needs to be spent is more on necessities such as food, house and clothes.
5. Start giving your child an allowance- this will teach kids about money in terms of money management. They will start to see how long it takes to save up in order to buy a toy that they are wanting. I teaches them the value of money and that nothing comes for free.
6. Advertisements on TV – When your child is watching their television programme, they may be bombarded with advertisements promoting different products. Explain to your child that this is one way businesses can show what they are selling to the audience. It will generate impulse purchases which can create negative spending habits. Advise them of this, you can even reduce their TV time to limit this effect.
Communication is the key, so when teaching kids about money, tell them the truth of what is happening. This is where they learn the best.
This is 63 pages worth of gold! This e-book will help you set your child on the right path for the future. Includes chapters on savings, budgeting, allowances, ways to make money for kids.
Also for the next 200 38 people that reserve their copy, you will receive 6 bonues completely free valued at $80!
- Teaching your Children to Have a Wealthy Mindset – extra chapter on how your child can be trained to increase their chance of becoming wealthy later on ($20 value: yours FREE)
- Why Money is So Important – another bonus chapter on why money affects everything we do ($19 value: yours FREE)
- Yearly Expense Planner – spreadsheet to calculate all expenses and savings throughout the year ($15 value: yours FREE)
- Simple Budget Planner – calculates what you intend to spend and how much you will save ($9 value: yours FREE)
- Printable Allowance Chart – easy to use chart to track your child’s allowance throughout the year ($9 value: yours FREE)
- Financial Planning for Kids – Checklist – a timeline to show you how to plan for your child’s finances ($8 value: yours FREE)
Price: $27