Skip to main content

To Spend Or Not To Spend: Teaching Your Kids The Answer


Parenting can be a very challenging thing. With school, home life, and all of the other little things which come with kids, it can often feel like you don’t have any time to talk to them about the important things in life. It doesn’t have to be this way, though, if you can pinpoint the important areas to teach. To help you out with this, this post will be going through finance, and some of the critical lessons you should give them when they’re learning the ropes.

  • Budgeting

One of the first lessons your child should be learning is good budgeting. Without this sort of skill, your kids won’t be able to get very far into the financial future. There are loads of tools online to help with this, and you can always start early with your little ones, giving them the chance to learn while they’re still little. An essential part of this is knowing when to spend. Below are some areas which can be taught to help your kids to learn about this.

  • Is It Important Enough?

When making large purchases, it’s critical to consider whether or not the item is actually needed or not. For example, most people will want to invest in a car or house at some point in their life. These are very big commitments, and will often require some borrowing to be accomplished the first time around. Of course, though, with the right support and knowledge, it should be easy for your kids to decide when they can afford these important parts of life.

  • Do They Have The Method?

Next, you have to make sure your kids are aware of the value of money, and the fact that it has to come from somewhere to be spent. A lot of young adults fall into the trap of payday loans and credit card spending when they first start out. This can be very bad, though, as it will give them a bad start going into their financial future. Instead, it’s best to make sure that your children know when to get something like a loan, and not to take it lightly.

  • Their Position

It can be very easy to jump into a loan or large purchase without thinking about the impact it could have on you in the future. The only way to get around something like this is with some clever planning. A good plan will cover at least a year, enabling you and your kids to spread your money without overspending.

  • Their Support

Through the good and bad, the difficult and easy, your child never has to be alone with their finances. Their bank will be able to help them with the basics, and some may even be willing to offer advice in areas like investment. Companies like creditrepairreview.co can help your children if they ever find themselves in a tricky situation. It’s important to make sure that your kids know where they can get support like this, as it can be one of the best ways to improve money.

Hopefully, this post will inspire you to start teaching your kids about the way that they should spend their money. Your children will have to make a lot of decisions in this area as they grow up. So, it’s a good idea to make sure that they’re aware of what they’re doing.

Comments

Popular posts from this blog

Copycat Boston Pizza's Bandera Bread

Have you ever had a craving for something but then once you looked at it you realized, I can make that myself for next to nothing? That's how I felt last night I thought about ordering in some food but then realized I really don't want to spend any money. I really wanted pizza bread from Boston Pizza. So I recreated it and oh my goodness was it ever good. Try some of these great recipes too!  Pizza Bread Dough 1 cup warm water 1 tsp instant yeast 1 tsp sugar 2 cups flour  Seasoning 1 tbsp melted butter 1 tsp garlic powder 1 tsp onion salt 1 tsp parsley 1 tsp rosemary 1 tsp basil 1 tsp oregano 1/2 tsp sugar 1. Combine the water, yeast, and 1 tsp of sugar in the mixing bowl and let stand for 5 minutes. Add the flour and salt and mix until a ball of dough forms. Roll ball onto a floured counter top and knead for a couple minutes.  2. Put dough in an oiled bowl and let rise for 30 mins in a warm place with a clean cloth draped over top. While your doug

DIY Table Revamp - Guest Post

Hi all! I'm Tiffany from This Motherhood is Brought to You by Xanax and I am so excited to be a part of the Guest Post Swap and to be Amanda's swap partner! I love love love her idea on how to make indoor snowballs with egg cartons. I am definitely going to have to try that with my kiddos since my smallest one has decided that it has to snow for Christmas. Poor baby doesn't know snow is hard to come by in Alabama :( For my guest post I wanted to share a little DIY with you guys that involves duct tape! A few months ago my daughter's little chair that goes with her table she sits at every day tore and she made it worse by pulling all of the stuffing out of the seat! What started out as a quick fix turned into a great idea. She loved her seat so much that she has now decided that her table has look cool too so being the smarty pants that she is, she tore her table!

Amazing Ways To DIY Your Nails In The New Year

Having beautiful fingernails can really boost a woman's confidence. Not only do they feel sexy and sassy but they look well maintained and professional. There are a number of different styles of manicures you can get done professionally but they can be costly and if you are trying to stick to a budget and save money it is best to give DIY a try. These beautiful nail designs are easy to do and look fantastic. There are some that are more intricate and some that are simple but all will be amazed that you made them yourself. Try using small gems and crystals at the tips to add a touch of sophistication.  Tips make a world of difference and they can be as easy as you wish. There are so many beautiful polishes that have amazing colours you can match. These simple nail designs can be done by any busy lady and make a lasting impression to anyone who comes across them. Hot Beauty Health has all the instructions for these super simple nail designs. There are a large number