Fill up this form to notify us about any comment that you find to be objectionable or improper. Please also do provide us the reason for your objection.

In: home > Raising Children / Raising Smart Children / Teaching Children the Importance of Money

Teaching Children the Importance of Money

raising-children Raising Smart Children

Have you taught your child the importance of money? Understanding the importance and management of money at an early age will prove beneficial for the future life of child. Read on to know some tips to help children learn importance of money.

Making children understand the importance of money is a very important responsibility of parents. Once children understand the importance of money they can make wise decisions relating to money matters in their prospective life. Therefore, it is very critical to make children understand the importance of money at the right time. Such maturity amongst them relating to money matters will definitely help them achieve more in life.

Today’s parents aim at providing each and every facility to their child. As such the child may not be aware about the financial difficulties which are faced by parents. Therefore, it is very essential for parents to make children understand the importance of money. If they learn to respect money at the right age, they will definitely grow-up as wise human beings. Here is how you can teach children the importance of money.

Day-to-Day Expenses

Make children aware about how you manage the day-to-day expenses. It is necessary for them to know that from where money comes and where it goes. Make sure that your children understand that you do a lot of hard work to win bread to your family with which day-to-day expenses are taken care of. Also tell your children that you need to do proper planning to manage day-to-day expenses. If you give pocket money to your children ask them to keep a record of how they have spent it.

Involvement in Decision Making

When you decide to spend money on a holiday for your family or you are buying any gadget or gizmo for your house, involve your children also. Let them know how you planned to earn and save money to buy such things for your family. Tell them your budget for buying a particular thing for your family. Make sure that they understand that money should not be spent out of the budget. 

Importance of Saving Money

Let your children know how saving money has helped you in your life. Tell them that saving money is critical as it helps in times of difficulties. Teach them to make small adjustments so that they can save money and use it when required. Ask your children to maintain a piggy bank and save money out of the pocket money. Reward them when the piggy bank is full.

You can also teach them to make small savings. They can make small saving by avoiding using bus when they have to travel for a very short distance. Instead of spending money on bus fare they can go walking.

Importance of Proper Investment

Just like adults do, children should also learn how to make proper investment of the saved money. If your children are forcing you to buy an expensive toy or gift, you can ask them to save money and buy it by on their own. If they are confused regarding what to buy out of the saved money, you can guide them. You can suggest them to buy good books rather than buying toys. You can invest their money in child insurance plans along with your money. This will make them feel that the saved money has been invested in right manner.

Avoiding Irrelevant Expenses

You should teach them to avoid irrelevant expenses. You should tell them how you avoid irrelevant expenses. For example; you can tell them that having extra cheese in your burger requires extra money whereas if you do not put extra cheese you can still fulfil your hunger. Similarly, when we can make use of one pen and can reuse it by refilling it, there is no need to buy extra pens.

Many times, at the end of each academic year we can find many note books which are not used completely. Children can make use of such notebooks as rough books for rough work or can make rough notebooks out of the remaining pages. In this way lot of money can be saved by avoiding irrelevant expenses.

Follow What You Teach

You should follow what you ask your children to do. After all children always look up to their parents and behave accordingly. Therefore, it is very necessary that you too give importance to money so that your children will also follow you. At the same time try to help them imbibe a thought in their minds that money should be earned only through hard work.

Hard Work and Money

Children should not be forced to do anything. Parents should try carry out activities which will automatically generate a sense of importance for money in them. Parents should give pocket money to their children when they help them in the household chores. They can give them pocket money when they take part in cleaning the house or helping mother in kitchen. In this way children can associate money with hard work. Any person automatically starts giving importance to money when he earns it with his own hard work. 

In this way carrying out the above mentioned activities will help you teach your child the importance of money. If they understand the importance of money at an early age, they will have a very bright future. They can take proper decisions regarding savings and investments and will learn to achieve more in life.


Does your child use a piggy bank? Do you encourage your child to save money? Have you taught your child the importance of money?
Discuss here.


Videos related to this article (421)
Dancing toddlers
MAN go eater
Sleepy baby
Sleepy baby 2
Virtual Pets that can read your mind
My Tamagotchis
How to download and Use Free Virtual Pets
My webkinz Virtual pets and a Couple of My Rooms
Hare and Tortoise story
The thirsty crow story
Fox and grapes story
Bedtime story
Baby Talk
Baby talks on and on
Baby gives big talk
Baby talking on cell phone
Disciplining your child
What to do if your child back answers you?
How to discipline a child
Disciplining from early age
Let us stand against terrorism
Children learn self defense in terror attack
Children suffer due to terrorism
Children and terrorism
Terrorism in India
Views on Mumbai terror attack
Stop terrorism
How to communicate with a child
Mumbai terror attack
Children learn fire safety
First aid kit
World Trade Center attacks
What is speed reading?
A child who reads
Reading a story book
Reading aloud to children
Child of divorced parents
Divorce and its effects on children
Coping with divorce
Children and divorce
Making money through interesting competitions
Money and children
Coping with financial difficulties
Raising children
A child coping with speech delay
Coping with speech delay
Helping child to cope with speech delays
Problem of delayed speech
A person coping with food poisoning
Food poisoning
A symptom of poisoning
Symptoms of mercury poisoning
Phobia of water
Phobia of an insect
Children and grease phobia
Dangers of having a phobia
Kitchen safety tips
Lead Poisoning in children
Educating children about fire safety
Child learning kitchen safety
A new toy for baby
Playing with toys
Playing with toys - funny
Toy safety tests
Children and depression
Depression and loneliness
Depression and feelings
Causes of depression
Claymation video for kids on safety at the playground
Careful While Playing
How to be careful on a playground
Playground safety - Funny
The Loss of a Loved One
Helping Children Cope with Death
Young Boy gives Advice on How to Explain a Pet's Death
Losing a Parent
Dos and Don'ts while Driving
Funny Video on Safe Driving
What NOT to do while Driving
Safe Driving
Safe Social Networking
How Social Networks form
Importance of Social Networks
Social Networks
Parents Feeding Child
Baby playing with Beer Can
Letting a Baby Drive
Baby drinking Coke
Baby Sitting Boogie
Babysitting
Funny Baby
Hilarious Babysitting Session
Disciplining Kids
Kids and Discipline
Effective Discipline
Teaching Kids Discipline
Playing Truant
Bunking off School
Bunking Lectures
Bunkers
Civic Sense
A documentary about Civic Sense
Civic Sense and our City
Ignoring Civic Sense
Technology and Kids
CCTV to watch Babysitters
GPS Tracking
Multimedia and Education
Stay at Home Dad
Documentary on Stay-at-home Dads
Dad Makes a Mistake
Life as a Stay-at-Home Dad
Lonely Child
Misadventures of a Lonely Child
Children and Loneliness
Parents Dont Understand
Childrens Behaviour
Influence of TV
Influence of Movies or Wrestling on Kids
Does TV influence Kids?
Children and Chores
Getting Chores Done
Responsible Kids
Great Helper
Bad Parenting
Parenting
Bad Parenting Skills
Six Signs of Bad Parenting
Social Awareness
Respect the Flag
Womens Rights
Child Labour
Father and Daughter
Father and Son
Funny Parenting
Parent Child Connection
Baby and Pet
Metalhead Baby
Super Cute Baby
Baby and Puppy
Cute Child having Conversation with Parents
Importance of Spending Time with Children
Spending Time with Children at Dinner
Cute Child Playing with Dog
Gingerbread Man Story
Telling a Story to Kindergarten Kids
Teacher Telling Children Story
Story of Goldilocks and the Three Bears
Speed Chess
Roll the Ball
Colorado Ice kids race
Small boy playing with toys
Reading and writing
Infant massage to stop a crying baby
Learning styles
Challenges faced by Young Parents
Don't touch me
Sibling Rivalry
Big sister and Little brother
Sibling Jealousy
Five ways to better sibling relationships
Sibling Relationships
Sibling Love
Complex sibling relationship
Children Dancing
How to keep children entertained
Marian entertaining the children
On the playground
Children Playing With a Dog
How to set and stick to your New Year resolutions
Getting Children to Eat Vegetables
Making Your Bed
Teaching children personal finance
Tips to save money
Importance of Saving
How to prepare a Financial Plan
How to invest in stocks for kids
Tips for Investing Money
Invest in Kids
Talk to your kids about Money
Cell phones dangerous for Child pedestrians
Children should not use cell phones
Dangers of kids using Cell Phones
Advice for parents of kids using cell phones
TV Harmful for Toddlers
Advertising to Kids
Psychological Tricks of Advertising
Helping Kids understand Toy Ads
Funny Scene from Cartoon
Are India Reality Shows Real?
Child Labour
Child Labour in India
Very Cute Baby Talk
Baby talking on Phone to Dad
Public Speaking Tips
Handwriting the Alphabet
Tips for Parents of Pre-Schoolers
Teaching Alphabets to Baby
Crawling Tips for Babies Funny
Parenting tips on how to pacify a crying baby
10 things you can do to help save the Earth
Environmental Sustainability
Environment Education for Kids
Save Water
How to stay safe
Funny kids and animals
Kids riding a bike
Kids swimming lessons
Talking to Children about Money
Innovative Money Banks for Kids
Teaching Kids to Save Money
Importance of Money
Childrens Talent Show
Identifying and Nurturing Talent in Children
Encouraging Talented Children
Talented Child
Encouraging Outdoor Sports
Popular Outdoor Sport in India
India's National Outdoor Sport
Health and Sports Day
India's Higher Education System
India's Primary Education System
Education in India
Educating Girls in India
Financial Advice
Importance of Financial Education
Financial Education Session
Financial Advice Animation
The Influence of TV programmes
The Influence of TV Media on Society
Influence of TV on Teenagers
Media Influence on Our Perception
A cute Girl talking about her Career
Career Advice
Career in Dance
Career in Classical Dance
How to become a Good Nanny - Funny
Cute Little Nanny
Baby in Day Care
Baby Having Good Time with Nanny
Misbehaviour in Children
Kids Misbehaving at Party
Child throwing Tantrums
Answering Childs Question
Sibling Relationship
Sibling Rivalry
Sibling Playing Together
Cute Siblings
Summer Camps Conducted in 1941
Keeping Children Occupied with Books
Children Occupied with Painting
Summer Vacation
Bad Effects of Fast Food
Improving Nutrition Programs for Children
Obesity and Fast Food
School Lunch
Solo Acting on the Concept called Angry Parents
Effect of Anger
How to Control Anger
Anger Management Technique
Parenting Tips
Communicating with Children
Tips for Healthy Children
About Shy Children
Effects of Divorce on Children
Effects of Single Parenting
Single Parenting and Marriage
Divorce from Childs Perspective
Siblings Fighting for Toys
What can Lead to Sibling Rivalry
Cute Siblings Fighting with Each Other
Baby fighting with her Sibling for Toys
Wholesome Development of Child
Beginning of Childs Development
Development of Child
A Group of Children Playing
How to Increase your Self Confidence
Quotes on Self Esteem and Confidence
Quotes for Building Confidence
How to Build Confidence in Your Children
How Parents can Help Children
Animated Video on Coping with Peer Pressure 1
Animated Video on Coping with Peer Pressure 2
What is Peer Pressure?
Importance of Cleanliness - Animation
Cleanliness Campaign by School Children
Encouraging Children to Keep Surroundings Clean
Cleanliness Awareness Campaign
Tips for Managing Anger and Being Patient
Consequences of Anger
How to Control your Child
Control your Childs Internet Usage
Kids Buying Clothes
A Play on Shopping for Kids
Little Baby Shopping in Supermarket
Buying Toys for Kids
A Funny Video on Buying Toys for Children
A Child Happily Playing with Wooden Blocks
Toys which You Should Avoid Buying
Some Children do not Need Toys Funny
Parenting Six Children
Father Spending Time with Daughter
Spending Time by Exercising with Kids
About Spending Quality Time with Kids
Parenting Tips for Changing Childs Behaviour
How to Change Childs Behaviour
Anger Management Tips
Tips on Talking to Teenagers
Pacifying Baby Girl
Parent and Child Sitting at Height
Girl Child Throwing Temper-Tantrums
Parenting Girl Child - Daddys Angel
How to Build Confidence in Child
How to Improve your Parenting Skills
Parenting Tips
Tips on Parenting and Raising Children
Toddler Reading a Book
3 Year Old Child Reads a Book
School Going Kids Reading Stories
Tips for Reading Stories for Children
Raising Intelligent Child
Raising Confident Children
The Intelligent Child
Parenting Happy and Self Confident Children
Raising a Boy Child
How to Teach a Boy to be a Man
Tips for Raising a Happy Child
Parenting Tips for Raising Children
Teaching Kids to Be Responsible
Child of Irresponsible Parents
Responsibility of Educating Children
Encourage Children to Save Trees
A Funny Video on Financial Planning
Parenting Tips
Child's Career Plan
How to Deal with Aggressive Children
Tips for Raising a Happy Child
Parenting Tips on Dental Care
Parenting Toddlers
How to Discipline Your Toddler
Tips for Travelling with Child
How to Discipline your Kids
Disciplining Your Child
Potty Training Experience
Tips for Raising an Honest Child
Bible Values of Honesty and Truthfulness
Honest Opinion Animated Story
Importance of Honesty
Kids' Favourite Things during Vacations
Scrapbooking during Vacations
Family Activities during Holidays
Organising Crafts Material during Holidays
Cute Siblings Fighting with Each Other
Sibling Rivalry - Animated Video
Kids Fighting with Each Other
Kids Fighting Over a Scooter
Girls Fighting For a Doll
Kids Fighting with Pillows
Cute Children Fighting
Fighting Twin Babies
A Kid who Lies
Kids Lie after Eating Chocolate
Child Who Likes his Mother Sometimes
Child Lying about His Age
Giving Visit to Great Grandparents
Bonding with Grandchildren
Spending Time with Grandparents
Playing with Grandparents
Experience of Parenting Twins
Fun with Twins
Twins Having Fun
Raising Twins by a Single Parent
Guide to Good Parenting
Tips to Be a Good Parent
Parenting a Teen
Parenting an Angry Teen
Avoid Parenting Mistakes
Mistakes in Parenting
Parenting Mistake
Tips To Be A Better Parent
Child Overcoming Fear
Fear of Dentist
How to Help Children Overcome Fear
Tips to Deal With Fears in Children
Effect of Television Viewing on Brain
Addicted To Television
Effects of Watching Television
Harmful Effects of TV Viewing
Monitoring Childs Online Activities
Online Safety Tips For Kids
Spending Time with Children
Monitoring Childs Calls and Texts
Getting Rid of Shyness
Helping Shy Children
Tips To Overcome Shyness
Shy Child
Rewards And Punishment Song
Benefit of Rewarding Kids
Rewarding Kid For Good Grades
Use Of Food As A Reward
Tips to Deal With Anxiety Disorders
Dealing With Anxiety Disorder
Tips To Overcome Anxiety Disorders
Effective Way to curb Anxiety
Testing For Emotional Development
Argument By a Baby
Throwing a Tantrum
Tips For Expressing Emotions
Rules for Raising a Confident Child
Reading a Book
Tips for Raising Confident children
Role of Parents for Building Confidence
Effective Parenting Tips
Parenting Style Assessment
Good Parenting
Effective Parenting Basics
Example of Bad Parenting
Bad Parenting
Bad Parent
Screaming Parent
Talking Twin Babies


You may also be interested in:



PREVIOUS POST
A child’s early years are when they can be termed as prodigies. Every child is gifted but in some cases it takes a lit..
Cancel
Save Edit
parenting
Notifications
10 Comments
Sort by Newest

Payal.1 year ago
I usually give some allowance to my son for a week. He has the habit of saving and usually saves half of whatever we give him. He will use his saved money to buy books or maybe candy as he pleases :). He would never compel us to spend extra money for his needs. After seeing this habit my friend has started giving some allowance to her daughter and now she is in process of teaching her daughter the importance of money.
 
 
 
.
Reply
prasanthi.1 year ago
I do give my money to my kids as pocket money when then perform good in there school activities and in there studies.i learn them how to save there pocket money and i will teach them how to spend on there things.
Kinderspaces
 
 
 
.
Reply
Saini.2 years ago
I do give my kids extra rewards in the form of pocket money whenever they achieve something. My son scored a good mark in the class test happened at Orchids The International School in Bangalore.
 
 
 
.
Reply
Sonali Pradhan.2 years ago
Very true - Also its never to late to teach children the importance of money and its value. We have a unique program designed to cater to this need of parents. For details check www.iflyacademy.com
 
 
 
.
Reply
Sanina Khan.3 years ago
quite true!If kids are never given any money, they will never learn to manage it.An allowance helps them to experience what it's like to have money. they will think twice on how to spend it and thus will also decide to put some away for later use.
 
 
 
.
Reply
Ravi Debey.3 years ago
I give my kids an allowance and this is for a specific period say a month or a week. They have to use this money for their basic necessities and also save something from it. this way they will learn about saving also.
 
 
 
.
Reply
Rohini Sawant.3 years ago
Teaching your children about money, can be a fun experience and a very valuable lesson.Teaching starts when they are young enough to count and teaching by example is the best way to go
1
 
 
 
.
Reply
Raising Children Topics..


Invest in Kids Video
Discussion Forum - Recent Posts
Has your child maintained his own piggy bank? Do you ask your child to save money? Have you taught your child about the importance of money?
view more >>
DISCUSSION FORUMS ON
Raising Children
RE:What Type of Dad Are You?
Hello Editor,
Father will be love and caring and they want their childre ...
- Murali    read >>

RE:Strange behavioral transformation
Hello Deepika,
So you are concerned about your kid but you need to look ...
- Munna    read >>

RE:Brain development
hello Simran,
It is the good idea you have taken and it will definitely ...
- No Name    read >>

RE:RE:Brain development
Great effort Simran! My sis too is into all of this and she takes time out ... - vishesh shrivastava    read >>

Misadventures of a Lonely Child Video...

All tips on Diet
You ever wanted in one place.
No need to go anywhere else. No spam.

*No spam only genuine emails
Talent Identification in Children