How to teach children the value of money? – Chile boxes

By learning from an early age, children will be able to make better financial decisions in the future.

In Chile, a 42% of people claims to have a low level of financial knowledgewhile 37% of those present medium range, according to a study conducted by the company Central securities depository and Kadem.

For this reason, there is a need to teach children from an early age what is the value moneybecause in this way they will be able to take better financial decisions in the future knowledge of basic concepts.

Ways to teach children the value of money

The adults can teach children value for money in various ways, incl Forbes highlights the following:

Identify the signs that indicate it’s time to talk

This can be difficult to identify when is the right time to talk about moneybut if children start show interest That means it’s time to talk.

Minors can show that they are interested in a variety of ways, either by collect coins, bills, or how to get gifts and on these occasions it must be explained to them that k They have to save in order to buy.

Children will thus be able to have a a solid foundation from which to learn more and develop a healthy relationship with financial education when they grow up.

Have good financial behavior

The Children imitate the attitudes of their parents, so through the actions of adults they will learn about money, so they must have ideal financial behavior.

Also, the conversation about money will be easier if you do knowledge of the topic being discussed.

Create a positive monetary mindset

The sooner you have financial conversations with the little ones, the sooner they can develop a positive money attitude where parents They must teach that money is a tool and not an end.

The above refers to the need to explain that it is not the amount of money one has but about what is done with it, i.e. for what purpose it is given.

Make tangible explanations of basic concepts

Have piggy bank It is a good way to teach children about it How does saving work when you want to buy a product in the long term, and also to understand that the amount they will have will only increase if they deposit more money.

Show the importance of generosity

The importance of teaching about generosity will help children use values ​​when managing your money.

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