Armed with textbooks, notebooks and lunch boxes, children go to school to gain new knowledge in mathematics, languages, and geography. Perhaps the only lesson they will not learn in school, but which is nevertheless important for their future: how to handle money wisely and responsibly. This lesson remains on the conscience of the parents, who do not yet have either a methodology or a lesson plan.

“Parents do a great job of teaching their child manners, safety rules, and how to make the bed,” says Mary Hunt, a personal finance expert and author of the recently published book Raising Financially Confident Children. “However, they often neglect the most important thing: teaching their children financial foresight.”

How to talk about money

When should you start teaching children about money? “Start from the moment you bring your baby home from the hospital,” says Hunt. Children are more likely to do what you do do than what you are speak. That's why it's important to model healthy financial behavior for your children from the beginning and talk about money often and calmly. The first lesson children need to learn is that money has value and once you spend it, it disappears. When shopping with young children, Hunt advises to always use cash rather than credit or debit cards. “Cash is visual, concrete, and understandable,” she says. “And the loan sends the wrong message to the child.” He may have difficulty understanding the concept of spending and believing in a magic card that will give you everything you want.

In addition, it is very important to convey to the child the difference between needs - necessary expenses and spending for fun. Hunt believes parents should use words and actions to reinforce the importance of not spending more money than you have. One of good ways- keep spending on fun under control, for which you need to not give in to every child’s request for a purchase and control yourself. However, Hunt argues against the expression “we can’t afford it.” For a child, this means “we are poor” and becomes a cause for concern. Instead, Hunt suggests saying, "We'd rather not spend money this way."

The main rules of pocket money

Should I give money for pocket expenses? Hunt believes this is one of the best ways to teach kids how to handle money on their own. She suggests starting to give pocket money at the age of six - $6 per week and gradually increasing the amount: every year by $1 per week. Thus, by age 15, a child should receive $15 per week. The frequency with which the teenager is given money also needs to be changed. At first you need to give them every week, then once every two weeks. Teenagers should only be given money once a month. Such an income schedule will teach the child to plan expenses and stretch the amount over a longer period.

Parents must make it clear to their child what they are responsible for. Explain that they pay for a house, car, food and public utilities and that the child should take into account where his pocket money comes from. You also need to explain that you expect him to spend his money wisely. Older children can be introduced to bank accounts that reflect expenses.

When children have their own money, it is important that they make their own choices and bear the consequences. It's their money to do with as they please. If they spend a month's pocket money in the first week, well, too bad. Don't lend them money. The whole point of pocket money is to teach children to save for things they want to buy. Experiencing negative consequences personal experience, they will learn to make the right choices.

Best learning opportunities

Routine, everyday tasks can be a great way to teach children how to handle money. Hunt recommends taking kids to the grocery store to teach them an understanding of planning, saving and finding the best value. Give them a list of products and demonstrate the concept of targeted purchasing. Point out differences in pricing structures and brands. Ask, which is better: 30g for $4 or 60g for $6? They will learn value and get some math practice at the same time. However, Hunt cautions parents against shopping too often, which can lead to consumerism and a tendency to make unplanned purchases.

Another good lesson would be the bank. Despite the fact that the majority banking operations happening online today, Hunt talks about the importance of visiting real bank branches to show your child how they work. Show him how you open a deposit, sit with the clerk, let the child ask him questions. Hunt argues that age 10 is the best time to help a child open a savings account, teach the concept interest charges and let you manage your savings. When he is old enough to work, he will need a checking account and a debit card.

Many other learning opportunities will arise on their own. To teach your child the mechanics of credit, open the brochure with credit offer bank and demonstrate what it means to delay payments, be in debt or pay interest. Use the first paycheck to explain the idea of ​​taxes, and the search for a house or apartment to explain the concept of a mortgage. “Teach children new and more complex concepts as they get older. They'll understand,” Hunt says. “It’s our job as parents to give them roots and wings so they can survive and thrive in the real world.”

How long should parents support their financially irresponsible adult children? A difficult financial situation is essentially not financial problem. The question is much deeper and is the result of an established pattern of behavior that was not corrected a quarter of a century ago. Moreover, trying to impose principles or inculcate habits on children after the third or fourth decade will be an exercise in futility.

The earlier you start talking to your children about money, the better.

In fact, you can start having similar conversations with them as soon as they start asking you for something to buy. The sooner children start learning about money, the better. If they adopt “healthy” financial habits, such as regular savings at an early age, the likelihood that they will maintain these behaviors throughout their lives increases significantly.

Be a good role model for handling money.

Believe it or not, children do pay attention to what you say and do. A parent is a model of behavior on which the child is fixed. Even before the establishment of verbal communication, parental activity provides attitudes that the offspring instinctively strives to imitate, and subsequently becomes an ingrained model for it.

Thus, if your words and actions are contradictory, they will be perceived by children as unclear signals.

If, for example, parents state the importance of living within their financial resources, at the same time having debt on purchases that they cannot afford, such moments will not go unnoticed by children and will not awaken in them the habit of thrift.

Another example: a child demands in a store to buy him a toy. Saying “no” to a child in public can be difficult, but resisting the parental urge to give in and buy what the child wants is important for teaching children about money management.

Joint purchases

Parents should take their children shopping, not so they can choose a toy, but so they can learn the importance of comparing prices and saving. The entire purchasing process can be educational: monitoring prices online, flipping through circulars, viewing and comparing prices in store, using discount coupons.

Explain to your child that it is important to limit impulse, unplanned purchases. But don't just say you're going to save money to buy a new bag; come up with and include it in a plan that will help you achieve this goal. Explain what you save every month a small amount from your salary and expect to reach your goal on a certain day. When the required amount has been accumulated and the time comes to go to the store, the child will feel like a full participant in the process.

However, don't stop at small purchases. Teach your children to recognize the importance of maintaining long-term goals by including them in planning your next vacation.

When you talk about the costs of travel, lodging, fun and restaurants, you'll help your kids understand that big trips, while fun, aren't cheap.

Cash

We are becoming a cashless society - salaries are directly transferred to the card, and bills are paid by automatic payment programs. Children who see their parents paying with a card may think the bank of money is endless.

Children need to see how their parents rule cash flows. Explain what you're doing - and how it works...: "I need to put money into my account so we can pay for grocery shopping next week" or "I'm putting money into savings so we can go on vacation." .

Don't encourage unattainable goals

Life is unpredictable and if this fact is not taken into account, the results can be disastrous.

Often parental aspirations are not designed for the future. Well-meaning parents who encourage their children to reach for the stars while ignoring reality are doing their children a disservice. One typical example is to direct a child to study at a prestigious university when the family fund is insufficient for this.

Realistic and achievable goals should be the basis on which parenting covenants are based. Despite the predominant position in modern society- everyone can achieve any heights; a wise parent recognizes reality and will strive to give the child appropriate instructions.

How to teach children to save

Money box

You can also teach your children the basics of saving by creating a family piggy bank. Set a goal for your family, such as saving enough money during the week to buy ice cream on the weekend. Every day, put the remaining coins from your pockets or wallet into your piggy bank. If your child has his own money, ask him to contribute his share to the piggy bank.

This activity illustrates how a family can work together to save for something fun.

Read together about money

Look for books and other materials that teach children about finances. Today there is a rich variety of children's books, economic board games and, if you allow, computer games that teach children the value of work, spending and saving. Presenting the material in such a fun, playful way will make it easier to teach your child how to handle money.

Creating Goals

Developing good savings habits is difficult for children because they perceive it as a loss, something they could have had but didn't get. Even some adults seek instant gratification rather than long-term benefits.

It is important to create a savings goal for your child. One way to motivate your child to save for something they want is to cut out a photo of something they want to buy. Glue the photo onto the envelope with the money. Photography allows them to visualize the item and makes it easier to save money.

Allowing your child to spend his money

Everyone makes money mistakes. But gaining this experience at an early age with a few hundred rubles can allow a child to avoid making more costly mistakes later in life.

To encourage children to save, give your child the freedom to spend some of their money on whatever they choose, regardless of how you feel about the purchase.

Forcing your child to keep all of their money can lead to resentment or impulsive spending.

Be firm

Learning that there is a limit to money is a valuable lesson for children.

Parents shouldn't be an ATM machine. Set a certain amount of cash allowance for the child and strictly adhere to it. If your child spent all his money on candy on the first day, do not rush to compensate him for his financial losses. Learning that there is a limit to money is a valuable lesson for children.

Ways to save

Tell your child about specific ways to save money. For example:

• When your kids get tired of playing with certain toys, why not trade them for their friends' toys? So they look like new, but you don't actually have to buy them or spend money on them;
• It is not necessary to buy new books - they can be borrowed from the nearest library;
• To have a fun and interesting time, you don’t have to buy movie tickets or pay for admission to an entertainment center. Very often bookstores, art supply stores, or cafes and pastry shops conduct free master classes for children.

Talking about money

Often the topic of money is taboo around the dinner table, but it doesn't have to be. If your child has a piggy bank, open it from time to time and use the opportunity to talk—not preach—about money management:

• Talk to your child about his wants or goals, such as a new bike, summer camp, or a new electronic device.

• Encourage discussion and/or decision making to determine the savings priority that is most important to the child.

• Explore with your child possible ways achieving the goal.

• Take the time to review costs together and calculate the savings needed. For example, help your child divide his planned savings by the purchase price to calculate the number of weeks it will take to reach his goal and complete the purchase.

• Celebrate when a goal is achieved, but also focus on setting a new goal.

Give them age-appropriate tasks

Lessons about money management should be age-appropriate for children. For example, children ages 2 to 4 should begin by identifying coin denominations and their values. Once they are familiar with currency, introduce a saving method such as a piggy bank where they can store gifted money.

Once your child turns 7 years old, he or she is old enough to begin receiving monetary rewards for completing chores or other tasks assigned by you. Being clear about your expectations is critical. The child should only receive the full amount if tasks have been completed to your standards, this will teach the child that money is something earned through one's own labor and not simply owed.

• 10% for future investments,
• 10% for charity,
• 10% for yourself (short-term savings)
• 70% for spending funds.

The expectation is that over time, saving and giving will become second nature to the child.

Between the ages of 11 and 14, tell your teen about deposit card and get him his own bank account. When he opens his account and tracks his monthly deposits or even just looks at his bank account online, the child is assured that his money is in a safe place and his savings are earning a profit.

The most important thing we need to teach children is that saving may not be very exciting, but the rewards are really great!

Useful articles

Hello everyone! Raising children means that parents prepare them for independent life. The older generation has to lead by example, including in matters of budget planning. It will be necessary and understandable to explain that money needs to be earned, and good things can only be bought thanks to reasonable approach. But is this enough to teach a child how to handle money correctly?

First meeting

According to research by the British agency Money Advise Service, financial habits are formed before the age of 7. Experts advise starting lessons at the age of 4, but the tasks should be accessible:

• Teach your child patience.

When treating your son or daughter to cookies, promise to give 1 treat now or 2 later. Let them decide on their own, but gently push them towards the option of waiting - you will introduce your child to the principles of long-term planning.

• Accompany refusals with explanations.

Once in the store, the son begs for a new toy: a friend at the playground has the same one! Explain that there is everything, so now you will choose the most necessary. difficult, but necessary: ​​the baby learns that you have to wait to get what you want.

Even at the age of 4 years, the baby will learn what money is and on what basis it can be exchanged for toys or sweets. Don't waste time, because you will make future tasks easier.

5-6 years: time to plan a budget

When your child turns 5-6 years old, move to a new level of “economics” lessons. To achieve results, resort to the following measures:

• Learn to earn money.

Of course, you will spoil your baby with gifts given for no reason. But such surprises are similar to bonuses: although they are, stable profits are needed to form a budget. Choose a business for which your child will receive pocket money, and give him the opportunity to earn money!

There is no reason to pay for any help around the house, but in the abundance of household chores, parents will find an activity that they do not like: if you do not like washing dishes or sweeping the floor, your offspring will take over the work. Let the baby cope imperfectly - you will correct the mistakes, but the child will learn to understand the connection between work and earnings.

• Help plan and save.

It is important for the child to understand that he manages money at his own discretion. Although the purchase of sweets or unhealthy chips should be discussed with his mother, he is free to please himself with new stickers, albums, and toys. But after the first expenses, dreams of major acquisitions begin: a bicycle or a console. At this stage, it is important to explain that money should not be spent immediately, but saved.

Together, start 2 piggy banks, and the funds from the first will be used for current expenses - the purchase of stickers or coloring books. But the 2nd will store the finances needed to purchase the desired item. The task of the parents is to make sure of the reality set and remind them of it when the offspring succumbs to temptation.

• Use cash.

If you pay at the checkout with banknotes, then the process will be clear to your child. But the use of credit or debit cards will be perplexing: parents show a magical little thing with which they can get everything! It is not always possible to explain the principle to a child, since he does not perceive abstract ideas.

Follow these rules and the foundation for managing money wisely will be laid.

5 Steps to the Trent Hamm Method

Trent Hamm, owner of financial advice site The Simple Dollar, shared the techniques he used to teach his 6-year-old daughter. Perhaps the method will be useful to you too!

1. Budget planning.

Trent has improved the 2-piggy bank option using 3 jars: in addition to money for current expenses and savings, he advises saving for . The child learns to share with those who need help and make long-term plans.

1. Establishing a clear system.

Hamm advises giving pocket money weekly, and the system should be clear. He is guided by the principle of “$1 for 1 year”, therefore the girl receives $6 per week. Money is given in small change to make it easier to sort it into piggy banks. Thanks to the system, the little girl is able to imagine how much she needs to collect for a large purchase, but if necessary, the elders help make the calculations.

1. Freedom to spend.

Going to the store, Hamm allows his daughter to take any amount from a jar marked “For current expenses.” Then the girl chooses the item she wants to buy and calculates whether she has enough funds. Since children are eyeing expensive toys, money is usually tight. Trent does not advise adding: the offspring himself will save up for the little thing he likes.

1. Conscious decision making.

If a girl sees a toy that is affordable, Trent reminds her of her desire to raise money to buy a Lego set or an expensive doll. But the final decision remains with the baby, so she learns to be responsible.

1. Good example.

Trent explains in an accessible way that mom and dad need to work to provide food, clothing, and housing for the family. He argues that children at this age understand more than their parents think: if the older generation is prone to spontaneous purchases, then the kids will not wisely manage their modest funds.

Thanks to this approach, Trent does not have to deal with his daughter’s whims. After all, you've probably seen how little children burst into tears in the store, demanding to buy a toy! Perhaps your children made a scene, but disobedience is not associated with bad morals: they do not see any other way to get the desired thing. Explain that you can save up for a toy, and trips to the supermarket will not be accompanied by grief.

How to teach your child how to handle money as a teenager

When a child turns 12, he is ready for a new level of responsibility. During this period, the offspring behave as follows:

• show a great desire for independence;
• express dissatisfaction financial situation;
• can ask for loans from friends without the knowledge of their elders;
• demonstrate the ability to operate with abstract concepts and understand someone else’s point of view;
• become more aware of the consequences of their decisions.

Dealing with 12-year-olds can be more difficult than dealing with primary school-aged children. Alas, changes are not always pleasant, but they remain a part of life. Your task is to make adjustments for age-related characteristics and help you get comfortable in a new situation.

Let us take part in budget formation

Children need to know that family resources are not endless. Include them in conversations about budget planning: discuss what to buy first and what to wait for. Should I buy new skates immediately? Are there more important needs? Allow the younger generation to speak out so they feel responsible.

Get ready for the teenager to note with a sigh: “And Petya’s parents gave him a new game console...” In order not to hear reproaches, keep your son or daughter informed financial situation. Explain that expenses are distributed depending on income and important needs, so you should not focus on the lifestyle of others.

Conduct family councils in a calm environment, so that children are confident that their opinion will be listened to. Perhaps it is worth giving your daughter the missing amount so that she can attend the concert with her friends? But next month her spending will have to be reduced. Maybe your son, who is saving for a new phone, asks to borrow some money? You are free to make a concession or demonstrate that not every wish is fulfilled immediately: the boy will receive the gadget, but later. Most importantly, remember that you are talking to children, not bank clerks, so they need approval and sound advice.

Watch your behavior

When it comes to managing finances, teenagers imitate their elders. If you know how to save and invest, the younger generation will be willing to follow suit. But do not think that the offspring do not notice the habit of taking out loans without the need: with a high probability they will learn to live in debt.

To instill the basics of good money management, take your children to the store and tell them how to make profitable purchases. Don't forget to call them when you open a spreadsheet on your laptop to plan your monthly expenses or start doing calculations in a notepad. And in conclusion, give your son or daughter a list and send it to the nearest supermarket, handing over a limited amount: however, you risk getting a lot of candy and chips!

Help us understand the consequences of living in debt

Parents make the mistake of violating financial discipline. Let's say your son is saving up for a fashionable gadget, but there are a couple of months left before he achieves his goal. He promises to reduce future expenses, so you decide to give money in . The boy makes a purchase, but next month he doesn’t have enough for his usual entertainment. The parent's heart can't stand it, you open your wallet... But what conclusion will the son make?

By demonstrating that you are simply saying goodbye, you are making a mistake. First of all, do not lend amounts that the teenager cannot pay back, because you yourself will provoke violations of the contract. Then talk about own experience debts and loans: explain that sometimes you cannot do without them, but the approach must be reasonable. Make sure your child makes well-thought-out plans before giving the right amount.

What to do if a teenager spends money unwisely

When you are dealing with a 10- or 12-year-old child, solving the problem is easier: you are free to say that purchasing a huge box of chocolates is not The best way spend the funds received for your birthday. Although you will feel like a domestic tyrant, the issue will be resolved. When it comes to a 15-year-old teenager, the stakes are higher: firstly, he spends more, and secondly, the opinions of friends are now more important than those of his parents.

You can say that you will have to live in your house according to established rules, but it is advisable to act more tactfully. If you don’t like how a teenager spends money, help him find a job: at 15, you can babysit the neighbor’s children, hand out flyers, post advertisements. Although the first salary will be spent on entertainment, soon the offspring will begin to appreciate the results of their labor.

If your child works part-time, ask him to help with expenses. Of course, your teen won't have to pay electricity bills or buy groceries! But instead of asking for money for gatherings with friends in a cafe, the son or daughter will allocate part of his own salary. This will help you realize the value of money, and the problem will be solved.

In some cases, it is important to hold back your dissatisfaction: you may not like that your offspring spent money on attending a concert or an exclusive comic book, but it is important for teenagers to feel their own independence. Let the money you earn be used according to your wishes, otherwise the incentive to try will disappear.

Now you know how to teach your child how to handle money. The main thing is to show patience and prudence. Be consistent, reinforce your instructions with example, and the result will not cause any complaints. See you again!

Child and money – what do they have in common? Children develop a natural interest in money quite early. This interest arises from what they see - for them they can buy something desired by the child or sweets. Based on this interest, it is very important to teach a child a reasonable attitude towards money, to teach him to resist temptations in the form of exciting advertisements for a children's audience that kindle the desire to buy money and spend it.

What should a parent teach their child so that from early childhood he values ​​money, manages it correctly and learns to save.

1. You yourself are a model of behavior for your children.

It's no secret that children do not what you say, but what you do. Think about what your attitude towards money is? Do you know how to save them yourself? Are you raising funds for an expensive purchase or are you simply taking out a loan and purchasing what you want? How do you shop in a store: do you take what you like right away or shop around, look for something cheaper, prefer to wait for sales?

Analyze your handling of money and be there for your child. good example.

2. First the necessary, and then the unnecessary.

We need to explain to children that, unfortunately, money tends to run out quickly, so first of all it should be spent on the most necessary things - food, clothing, medicine, travel. And only then, if there is any left, can you buy fashionable clothes or a new game.

If the child insists on purchasing them, then you can offer him to save money from this and next month’s salary. Explain that then it won’t be too expensive and you won’t have to deny yourself what you need.

3. Advertising information. How to deal with it?

It is almost impossible to protect children from advertising, which seduces everywhere: TV, the Internet, huge colorful billboards on the streets. Draw your child's attention to what tricks advertisers use to sell their products. Why are they trying so hard? Maybe no one takes their goods?

And it’s not a matter of quality, since you’ve tried both products, but the fact is that in order to pay for advertising, they are forced to charge double the price for it. Why pay more when you can get the same thing for a more reasonable price.

4. Rich is not the one who earns a lot, but the one who knows how to save.

Give your child a piggy bank, preferably one from which you cannot get coins out except by breaking it. Teach him patience and consistency in saving: let him put pennies into it every day, even if it’s just a little. When the piggy bank is full, be sure to use the accumulated funds to buy whatever he wants, for example, a cell phone, tablet, etc. This thing will be very valuable to him, since he worked hard before he got it.

Open a deposit for your child, and let him witness the monthly investment and see what kind of income the invested money brings.

This will teach the child to save part of his earnings in the future. Don't forget to stimulate your child. Use the interest received from the deposit to buy your child what he wants - he should be rewarded for his patience and understanding.

Follow these simple rules and in adulthood your children will be able not only to earn money, but also to accumulate and increase their capital.