OKFAMILIES

But what I want to say is that we have to let the kids learn about managing their financial condition.
The important thing here is to teach the children how important is to understand about how to manage the money now rather waiting letter in the future that eventually will bring the financial condition to the worse condition. Make the example of your life experience in dealing with loan from the bank. There are many things that happen in our life that obviously will affect our financial conditions. There are things that could happen without our control or our will. We have to be ready with any financial condition. Preparing our kid to face such situation is not easy as the kids have different level of understanding about certain problems. Well giving the kid little idea will at least make the children aware about financial thing that they eventually have to learn base on their ability to understand about the problems.

So the question is when and how to lets the children learn about the money? The right answer is to teach your kids as young as possible. By the age of three you should tech your kids about the penny he or she have. The kids should know the basic of handling money and the proposes of it. Handing over some money she or he will receive lollipop or candy at the shop.

The lists below are some tips that can be given to your kids to help them finding the right ways to get financial freedom when they get older.

1. Buy them piggy bank and ask them to choose the size and color of their favored. Ask them to put the penny and explain to them why he or she should keep the money in there. There is a time when he or she want to count them and give them some reward if reach to certain amount…to be continued in part III.