Pay day loans have become a major thing in the last few years and they have helped many people out of a bind or even just given them that extra little bit of money that they need to make it through the holidays and beyond. However, in today’s uncertain economy, it’s more important than ever to instill the value of money in your children. If you aren’t quite sure how to teach your children the value of money, then read on below for a few of the top money lessons you should teach your children today to help secure their tomorrow.
Money Doesn’t Grow on Trees
When you take your kids with you to the ATM and they see money pop out, it’s easy for them to get the idea that money is unending. You need to explain to them at an early age, that money doesn’t grow on trees and that you work for every dime. Explain that the bank is just the place where you put your money when you get paid, to keep it safe until you need it to pay bills.
Help Them with a Budget
If you give your child an allowance and they spend all of it on a DVD and don’t have enough left to buy the doll they want, don’t just give them the money. Help them to set up a budget, so that they know what they can spend and can’t spend and that if they spend all their money, they must wait until the next allowance to get something else.
These are just a couple of the money lessons you should teach your kids now to help them secure their futures later on.
