If you don’t teach your kids how to manage money, somebody else will. And that’s not a risk you want to take! We’ll show you how to give your kids the head-start you wish you had and set them up to win with money at any age, according to www.daveramsey.com.
Use a clear jar to save
The piggy bank is a great idea, but it does not give kids a visual. When you use a clear jar, they see the money growing. Yesterday, they had a N50 note; Today, they have a N100! Talk through this with them and make a big deal about it growing!
Set an example
A study found that money habits in children are formed by the time they are seven years old. Little eyes are watching you. If you are slapping down plastic every time you go out to dinner or the grocery store, they would eventually notice. Or if you and your spouse are arguing about money, they would notice that too. Set a healthy example for them and they would be much more likely to follow it when they get older. Read more