Difficulty: Moderate
Instructions
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Step 1
You can get your chilren to sock away their cents by offering a parental match - say, 50% - for however much they save. The incentive will turn your little ones into star savers, which will actually save you money down the road
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Step 2
Money and finance is a part and parcel of our lives. Therefore, we need to educate our children about the basics of money and money management such as budgeting, saving, investing and not the least spending, from the early years. We need to explain to our child the concept of money.
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Step 3
Once the child is old enough to understand the concept of money, start giving them a monthly allowance. This will give them a real-life experience about money and buying & selling. Let them make mistakes This is the best way to learn.
