En­cour­age your kids to keep track of their ex­pen­di­ture by get­ting them a money di­ary and teach­ing them how to use it. This will help them learn to man­age money more ef­fec­tively – they’ll be able to see how and when they spend their al­lowance, and where th

GIVE THEM A MONEY DI­ARY EN­COUR­AGE THEM TO SET ACHIEV­ABLE GOALS

Simply Her (Singapore) - - Kids -

Give them small, easy goals to save to­wards, such as a sto­ry­book or toy. As they get older, teach them how to save and bud­get for long-term goals, like shop­ping money for the next fam­ily hol­i­day, an ex­pen­sive gad­get or an in­vest­ment de­posit. This goalset­ting and plan­ning process al­lows kids to get a bet­ter idea of their dreams and de­sires. At the same time, it keeps them fo­cused on the im­por­tance of putting money away for a spe­cific pur­pose.

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