Saving is an essential skill in human survival. It is therefore important that you should be able to teach children how to save. There are many benefits that can be gained from having a good saving habit. The earlier they learn this skill the easier it is to use it in their adult life.
Like any other habit, saving can be taught. Many of us have had to learn to do this during adult life. However, it is generally agreed that a habit learned during formative years are harder to kick. So, if you teach your child how to save early they will likely keep on saving into their old age. Not by will power but more by muscle memory.
Muscle memory is developed by doing the same thing over and over. This continued repetition will result in the mind and body getting used to the action. When you try to do things differently it will feel awkward. Harnessing this in-built resistance to change is key to developing beneficial habits like saving.
Saving will greatly improve the quality of life of your children. Even if they develop other habits like real money online gambling at toponlinecasinos.co.za they will be responsible gamblers.
Three Key Tips To Teach Children To Save
- Teach the child self-discipline. This is the key to saving. Without self-discipline, the action of saving is harder. And it is more likely that the little that will be saved will also be used prematurely.
- Give them an allowance. The interval at which the allowance is given depends on the age of the child. Also the level of saving maturity is key in determining the amount of money that is given. Remember that to be good at saving you need to be able to ration few resources.
Give them an incentive to save. A little motivation is always great for getting things done. Help them come up with a realizable target. One that they can easily achieve. Start small and increase the size of the target. Always make sure the target is something the like not something you are forcing on the kids.
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