Erica Fernandes is known as a top actress in the TV world. Erica has worked in many TV series and shows. During an interview, Erica told that her childhood was not normal at all and she had to face a lot of financial difficulties.
According to Erica, when she was young, her father fell very ill and her mother had to go to work. They did not even have money for food. Her relatives used to give money to run the house. Erica used to get only Rs 20 to go to college, out of which Rs 10 was for bus fare and she used to eat Frankie for Rs 10.
So this is how Erica had to face financial difficulties in her childhood. This is why Erica understands the value of money today. Every parent should explain the importance of money to their children from an early age so that they never have to face a shortage or shortage of money in their life. Also, when they grow up, they can do good financial planning for their future.
teach kids the value of money
Piggy Bank
According to Orchid International School, teach your children the value of money, how to manage it and use it responsibly. Make piggy banks of different sizes for your children to put money in according to their goals. Once they reach their goals, they can break open the piggy bank and buy something of their choice.
pocket money
You can give your child pocket money every week to buy something of his choice, but along with this, also explain to him the value of money and why it is important to save it. When the child wants to buy something, whether small or big, ask him to buy it with his own money. This makes the child understand the importance of hard work and the money earned.
give examples
You should set an example for your children and make them understand the value of money. If they see you wasting money on junk food, they will think it is okay. If you and your children do not spend money wisely, it can create problems for you in the future.
Allow for mistakes
There are many ways to explain the value of money to children, but in this process you should also give them a chance to make some mistakes. This will help the child learn and understand what he should not do. This is also an effective way to explain the importance of money.
When is pocket money?
Give your child the responsibility of cleaning his room and tell him that you will give him pocket money only after he completes this task. This will make the child realize that money is earned with hard work and it is not right to spend it just like that.
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