7 lessons that teach your kids how to spend money from an early age

These days, many young children waste their parents money by nagging their parents to buy them toys for them. Therefore, if you do not teach your children how to spend money at an early age, your child will still keep the habit of spending money to large amounts. By the time parents can no longer afford to give money to their children, their children's lives may fall into poverty. To prevent this from happening, teach your children how to spend money properly. 

Early childhood lessons related to money are important. The power of money is so great that it can ruin the happiness of many families, break friendships, and possibly degrade people's morality. Today, children are exposed to money very early and it has a lot to do with children. Therefore, if you do not want your children to run after money, teach them the following lessons:

1. Parents are not millionaires

Parents are not millionaires even if they work hard. Today, children want everything. Therefore, when children see attractive, new or expensive toys, they will ask their parents to buy them. Children are obsessed with material, the reason is that they are exposed to the Internet. Children spend too much time watching YouTube videos about rich kids living luxury. From there, children will feel depressed and resentful about why they don't have such a life.

You cannot manage all the videos that children watch because work and life stress do not allow you to do that. However, you can teach your child that no parent can buy everything they want. Talk to your child about people who are struggling and feel grateful for the food and clothing they have.

Scolding the child also doesn't work. The best way is to choose an appropriate time to talk with your child, let them listen and discuss the matter as an adult. Teach children to care about things that have nothing to do with money and to appreciate the money that parents work hard.

2. Money can't buy happiness

Many people say, "The more money you make, the less trouble you will have." Making a lot of money is exciting, but in fact, the more money you have, the bigger the problem you will face. Money can bring temporary happiness, but it doesn't ultimately make you truly happy.

A rich person can buy a villa, but that doesn't mean they are happy. Happiness does not depend on your living situation, it depends on your choices.

3. Teaching your children how to spend smart money will make family life more comfortable

When your home is in trouble, teach your child to think about buying food instead of buying toys. Teach your children not to buy unnecessary items when the refrigerator is empty.

Also, teach your child how to save on food and other objects. This is one of the most important money lessons that you should teach your kids from an early age.

Please refer to the article  5 lessons to teach children to spend smart money from childhood .

4. Cooking at home is a way to save money

Eating out has become a habit in many modern families because life is so busy that they no longer have time to cook. However, eating out not only causes money to be depleted quickly but also has a negative impact on health. Try to take the time to cook at home so your child understands that eating at home is a fun activity and an easy way to save money on travel or to buy new toys.

5. Make money with your hobbies

Thanks to the Internet, you absolutely can use your hobbies to make money. Just take a walk and you will see a lot of kids who can make money with their interests on YouTube, Facebook or Instagram channels. Help capitalize on your skills and hobbies to earn a small sum for the purchase of toys or food. This both helps children feel confident and makes family spending more comfortable.

In addition, this also helps children understand that money is a reward for a job. It was not falling from the sky. Everyone has to work hard to make money buying essentials. From there, children will understand that money is to earn by themselves, but no one can bring money to spend. If the child is too young, you can try to pay them a small amount for asking them to do odd jobs and let them spend the money on their own.

You can refer to lesson  10 where to help your children experience money effectively .

6. How to keep money safe

Many children, even adults, often lose money. Although that amount is not large, it is still money. So, you should teach your kids how to keep money in a safe place. Get your child a wallet and teach them how to keep it safe in the room. This will help your child lose money and be more responsible for it.

7. Debt is a pitfall

If parents are constantly in debt, they are more likely to face this situation as well. You can borrow money to buy something, but you should teach your children that borrowing is a trap. Children should save money for something rather than spend it wastefully then have to try to save to pay the debt.

Do not let your child use credit cards when they are young. Avoid using credit and debit cards when shopping with your kids, pay with cash instead. This lesson is not only good for the child but also good for the parents.

Finally, teach your children to be grateful for what they are enjoying. You should start teaching your children about money today and they will be grateful for it later. When teaching children, you will also experience a lot of lessons for yourself.