January 28, 2018 at 5:24 pm #44365GeorgieParticipant
I am 50 years old man and starting to be worried about my twin sons. They are about to turn 20 soon and I don’t see that they are getting the point about the value of money and hard work. I may say that I am also a little bit guilty for that because I always thought that they are still too young, but as time passes I am realizing the problem… Can someone share their experiences how to teach children properly about investment?January 29, 2018 at 8:37 am #44366GarninoParticipant
Hey, I think kids should be learning about money since they are born. Just kidding, but you get my point. Since they are very little they need to learn about the value of money. Now, you got a situation where you sons think that they can have everything without effort. The first step would definitely be limiting their own budget (if you still give them money, and I realized that you do). Second thing-while doing your own business, work with them. Let them see how much someone needs to work to earn anything. Also, explain why are you doing that-because you think that they don’t know the value of money. They are not little anymore.January 30, 2018 at 6:40 am #44381Matt BParticipant
Children should have their own money, to learn how to invest. Of course, you give them money for food and clothes, for example, when they go to school. Track how they actually spend it. If you see that they don’t realize the value of it, you need to act fast. But, kids see what parents do and they take their parents as models, most of the times, don’t forget that. Ok, it can happen that their friends become their models, but that is why all parents are worried with whom their kids are hanging around.January 30, 2018 at 9:03 am #44401BambaleParticipant
My dad sent me to a camp where I had a summertime job. I was in my high school then, and believe me, it helped so much to realize the value of money, and of course the job. I think that children should have obligations since they become 6-7 years old. I am talking about some hard jobs, but they can do housework. It is all about creating the good habits, and I am pretty sure that you are well aware of that. Don’t spoil them too much.January 30, 2018 at 6:22 pm #44412JohnParticipant
The best thing is to teach them with stories. Give them a good and a bad example, and they will realize it all easily. Also, remember how you felt in those years and what you could or couldn’t understand. It is very important to realize what is your child’s learning style in the first place. Not all methods work for everyone.January 31, 2018 at 6:29 pm #44448GeorgieParticipant
Yes, from your stories I have realized that I am starting a little bit too late. But I won’t lost the battle, I hope so. Will try with that ‘story advice’, definitely.February 2, 2018 at 7:54 am #44468Kerry100Participant
It’s not too late, your kids have been watching you and your wife all your life, remember that. As someone already mentioned, they learn by watching models. I would say-roles in their life, that would be a more precise decision. So, if you have been a great family, and from your story, I have realized that you have been, then you got nothing to worry about. But, start with some lesson, or maybe that summer job would be a great option.February 2, 2018 at 12:16 pm #44494GeorgieParticipant
Yes, you are totally right about the model. I think my wife and I have been great models, although we have spoiled them a bit. You are so right, they will figure it out somehow, with our help. I was a bit afraid for their future, but you people encouraged me a lot!
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