Aside from leaving better opportunities to my children, I would want them to learn a life skill that they could bring anywhere they go, that is money skill. I believe this skill has no discrimination. With this skill, they not only make their future children's life better but they can be a blessing to others as well. Handling finances has underneath skills that many do not realize. One of it is discipline, another is perseverance. It's a matter a training our minds how to perceive this type of skill. Mindset is where we always need to start.
Link: http://www.entrepreneur.com.ph/startup-tips/here-s-how-to-talk-to-your-kids-about-money-management-infographic
If bestowing an allowance or assigning chores is a popular way to breach this money management topic, make sure it’s clear why your child is receiving money, and that any payment is aligned with action, according to the below infographic compiled by ChoreMonster, a suite of apps that aims to incentivize chores.
It’s also crucial to talk to your kids about budgeting and how to save both in the long and short term. For instance, it might be wise to point out that curbing smaller purchases—such as ice cream or movie tickets—can pay off in big ways down the road, such as in being able to buy a bike or even a new car.
For more tips on how to talk to your kids about money, and some suggestions for age-appropriate chores this summer, check out the infographic below.
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This article originally appeared on Entrepreneur.com. Minor edits have been done by the Entrepreneur.com.ph editor.
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