Your children might need a solid financial education since his or hers first ages of life. Sure, we are not talking about making your kid work for every penny, but to teach him the importance of being balanced. Especially during those times of financial recession, we bet that you would have been a lot happier if you hadn’t been forced to learn the lesson of being calculated in a hard way. Your child could learn the rules of being responsible with money since the early ages, and this is surely a characteristic that would be useful later.
You don’t have to start this education with real money. On the contrary, it is recommended to reward the child with promises, sweets, clothes or other objects needed. As soon as the child learns about the fact that he should do something for a reward, you can get to the next stage.
Start giving money to your child. However, tell him not to spend it all at once, but to raise the money for a more expensive item. Of course, it is important to motivate the child. Sometimes, bigger sums than the ones initially expected would represent a solid motivation, especially if the child was able to retain from spending too much.
Later, you can even teach the child the basics of investments. Maybe your child has a bright idea, so you can teach him about getting on the internet to find the micro-loans that would make his dream true. Or maybe you want to teach him how to invest the money that he has earned, and in this case, the micro lending websites could help you to find a solid but cheap method to invest. This way, you will have your own small family business that you can manage along with your child!