In the words of Janet Bodnar, “Money is the stand-in for many of the values we want to teach our children.” The sooner we teach the kids about the importance of managing money, the sooner we prepare them for adulthood.
The Hallmark School, frequently listed among top 10 schools in Chandigarh takes a keen interest in educating kids about the monetary worth. Here is a quick list of ways by which kids can be taught to value money and do not turn into wasteful individuals:
Explaining How Money Work
Paint a mental image of the monetary circulation process to the kids for a better understanding. One way to do so is to compare banks to a piggybank where the money is deposited until we are ready to use.
Assign a Small Allowance
Weekly allowance enough to manage supplies and miscellaneous expenses eventually create a sense of responsibility and enable the kids to try their hands at making as well as managing a budget.
The importance of money can be taught through games too. Board games like monopoly help kids to have a better understanding of handling and organizing money.
Introducing to Real-Life Money Situations
This can be done by including kids in small financial decisions giving them pre-hand experience in better management of money. This will allow the kids to see the impact money has on day-to-day activities.
Organize a Yard-Sale
A yard-sale is the simplest way to show kids the concrete monetary value of their possession. This teaches kids to be thrifty about their funds.
In a world of credit cards and investments, keeping up with money can be tough for adults, and even more so for kids. The Hallmark School, best CBSE School in Panchkula ensures that the students learn about the importance of money and implement the same in life.