The way kids are brought up will affect different aspects of their lives. According to Jono and Kirsty Rowe, parents have a lot of influence on their kids’ lives. Some people live paycheck to paycheck even though they have good jobs. The way they handle their finances can make a difference. To make kids become responsible citizens, there is a need to teach them the value of practicing best practices when handling finance. Some of the tips Jono and Kirsty Rowe recommend are:
Parents are the kids greatest influence
Parents play a great role in influencing the kids. Whatever parents do, the kids will follow because they spend a lot of time with them during their early days. When parents start early to practice the right personal finance measures, kids will likely follow and become responsible adults in the future. Try to involve kids positively when dealing with family finances.
Teach kids the value of money early
The kids will not know the value of money unless parents make an effort to explain it to them. According to Jono and Kirsty Rowe, taking kids to the shop and comparing prices together is good. Mind the language that the kids will hear. It should be positive towards money so that kids can develop a positive attitude when handling money. When kids are given pocket money, they should feel they earn it rather than entitlement.
Involve kids in budget writing
Families should come up with budgets, according to Jono and Kirsty Rowe. The written budget should involve kids. When kids get involved in the budget-making process, they will know the importance of sticking to the budget as they buy different items for the family. When people operate on a budget, they are likely to avoid unnecessary spending that can affect their finances. Teach kids the value of giving or prevent them from developing bad habits such as selfishness to know more click here.