Teach Your Children How To Be Financially Responsible By Giving Them These 4 Nuggets
There is a famous saying amongst the Yoruba people in Nigeria, West Africa, and Africa. It translates: “The child you refuse to train today will sell off all your properties tomorrow!”
A parent’s joy and pride are to see their children succeed and excel at everything they do in life. This is not achieved by only prayers and wishful thinking, though.
As a parent, you must be deliberate about your children. You must be intentional about what they eat, what they wear, who they see, who they talk to, what they listen to, how they listen to what they listen to, and every other aspect of their lives right from the day they’re born.
Do not leave anything to chance when it comes to raising your child, and one of the most important things you can teach them is how to be financially astute right from their very tender ages.
There are four major things every child must learn regarding finances, and the sooner you teach them, the better too.
Teach Your Child How To Earn Money: The art of petty trading and exchanging goods for monetary value, legally, should be taught to your child early in life.
Also, it would be best if you always encouraged them to find ways to generate income by themselves. You’ll be amazed at the creative juices these type of push release in a child’s mind and helps them develop sharply too.
Teach Your Child How To Save Money: When they make money, show them how to set some aside for “rainy days” and unexpected needs.
Teach Your Child How To Invest: Don’t encourage them to save without letting them know that money put aside can also be put to work so that they can earn more.
Show them different things they can invest in and guide them on making informed and not emotional decisions when it comes to selecting investment options.
Teach Your Child How To Spend: The last point for today is by far not the least in any way at all. Knowing how to spend is equally as vital a skill as knowing how to earn!
Let your children know the difference between what they need and what they want, and help them to understand how to prioritize these well.
Knowing how to spend also involves knowing when to splurge on yourself occasionally too. It would help if you taught them how to be good to themselves as they work and earn money and how to be generous to others in need around them as well.
Raising well-grounded children is certainly not a walk in the park, but with diligence, commitment, proper planning, and prayers, too, of course, you can raise yours to become the joy of all they meet as they grow in life!
May God bless and help every parent out there to raise children they will be proud of in their old age. Amen.