How to teach the concept of “money” to our children? / Is money security or value?
Life group: One day, all the children face this question in their minds and ask their parents, “Mom and Dad! “What is money?” Money is an important issue in our lives, but we do not all necessarily feel the same way about money.
For some people, earning money is the main priority of their life, but for some people it is not one of the first priorities and they may think only about meeting the need for money and try to earn it. Some are strict in financial management and some are weak in management and savings.
But the correct answer to the children’s question “What is money?” What can it be. Because this answer is very important because children’s attitude towards money can make money safe for them in the future or anxiety!
1. What is money and why do we need money?
Children over the age of 5 gradually understand the meaning of money. You can first explain to them what money is and what it does for us.
The best way to teach is practical training. Take the kids to the store with you and explain that different items have different prices and we can provide the things we need with money. Explain to them that not everyone has the same amount of money and that everyone spends part of their time earning money to meet their needs.
In any case, you should give this kind of answer to your child, because your answer is very important and the goal of all of us is for our child to have the right attitude towards money and learn how to manage financial conditions.
Our sense of money goes back to our financial situation, our attitudes and our priorities. Many of these attitudes are formed in childhood, so it is very important that you give your children the right attitude about money.
2. Is money security or value?
It is better for children to have a clear and realistic attitude towards money. Money is a very important issue for our security and comfort, but children should know that buying luxury goods or more expensive goods are not necessarily more valuable or people who are richer are not necessarily happier. So our explanation should contain the concept of security, not value!
For example, you should not tell your child, “We all need money so we can have more fun and buy nice things.”
You have to say, “We all need money to be able to get what we need.”
* What behaviors should we not do for financial education?
A few behaviors make children’s attitudes toward money more valuable than need and security.
-Permanent purchase of expensive toys
This will make the children wait for no request and consider money as a constant source of happiness that is always present and can be spent as much as they want.
– Constant talk of financial problems when the children are present
Financial conditions have become very difficult these days, but “money” as a need should never be a child’s concern because it makes money a source of insecurity for children, something they are always worried about or angry about.
The right attitude towards money helps children to be forward-thinking, to learn to save, to increase their discipline and responsibility, and most importantly, to learn the right methods of financial management.
* Teaching savings to children
Once children have the right attitude about money, we need to teach them how to use money properly and save.
For example, give children a weekly or monthly allowance. Whether it is weekly or monthly depends more on your choice, but for children who have not saved before, especially under the age of eight, it is better to be weekly because saving practice takes time.
Another point is that the child should have the right to choose about his money. The right to choose does not mean that the child can do whatever he wants with his money, but it does mean that he has to choose between several requests or goods.
For example: “Mom, you have a monthly salary of fifty thousand tomans. Do you like to buy books or food with it? Or would you like to go to a toy store? “Which one do you need the most?”
This choice helps children understand the concept of limitation and progress in prioritization.
Another point is not to change your law. That is, explain to the children that you meet their basic needs, but this amount is currently fixed, so it is better to choose based on their interests or preferences, because this option is only available once a month (or once in Week) will be. So do not change the law so that children learn to make smart choices.
If you decide to increase the amount, explain to the child that for example: “You get a year older and that amount of money is added to your fish.”
When children have a choice about their money, sooner or later they are faced with a situation where the product or demand is beyond their money. This is a good time to teach them the concept of savings. You can explain to the kids that when we want something that we do not have the cost of, we can wait and save our money. In these cases, you can offer help.
For example, consider a situation where your child wants a toy that costs 200,000 tomans.
“Mom John, Dad and I will pay 100 tomans for your toy and you can save the remaining 100 tomans with two months to buy this toy”
* The concept of the day lest
Do not teach the concept of the day to the child with a story or cartoon. It is better to make saving a routine. Explain to the child that it is good for us to be forward-looking and always have money in our savings so that we can have money with us when we need it.
“One day my little chicken found a very large piece of bread that he had no appetite for at all. A few days later, it rained so hard that the chickens could not go out to find food. Yehu remembered his big bread. The little chicken should not keep the bread for the day. We humans can save money for our day by saving.
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