I know you are probably looking at that statement, and saying “are you kidding?” Our schedules are busy, and there barely seems to be enough hours in the day to accomplish tasks as it is. But by setting aside time now to explain things to your child regarding business, responsibilities, commitments, and the importance of organizational skills-this can prove to be rewarding for them in the future. The most important lessons begin at home, and here are a few simple steps you can take to make this happen.
Explain and Demonstrate Responsibilities
Children learn not only what you say, but they learn things by what they observe you doing. If you have a common habit, there is a strong possibility they may want to mimic it. Ensure it is a positive habit. Make a habit of setting aside time monthly to discuss finances with your child. This doesn’t have to be anything long and complicated, but make it age appropriate. They must understand that the means to accumulating wealth and running a successful business is by saving, investing and planning for those rainy days that are guaranteed to come. Your status will have nothing to do with the labels you wear because sooner or later those will become worn out. The younger this is explained and understood, the better.
Understanding Finances is Fun
Make it a fun experience to learn about money. The more fun you have while learning, the stronger eagerness and interest will emerge. Find board games such as Monopoly that allow you to have hands on experience with paper money, buying and purchasing properties, earning additional funds etc. Also, check to see what opportunities your child has at school to obtain additional knowledge about money and get them involved in it.