WINDOW SHOPPING

*FOR CHILDREN

By taking your children, younger brothers / sisters, nephews or niece to any festivals or occasions, you will find that they with a long list of items which they want you to buy for them. We can adopt several ways to teach them about how to save and manage their money. Such as:

1.       START TEACHING THEM EARLY

Nowadays, children are becoming much smarter and informed very early than us. So, start teaching them the importance and benefits of saving money early. Tell them how if they save money now, it can help them in making their future secure. Always try to make them aware about changing value of money and the benefits of saving money. Do not force them, let them hold their own choice to save money. This will help them in making saving money more enjoyable and satisfying.

2.       EXPLAIN THEM THE DIFFERENCE BETWEEN ‘NEED’ AND ‘DESIRE’

Teach them the difference between things they ‘need’ and things they ‘desire’. This will help them in managing their money by keeping things they need on priority. This will also help them in removing things from the list they want to have. In respect to things they want to change or replace, tell them whether it is that much necessary to change it or by just repairing some part that thing will start working as early.

3.       MAKE THE WAY OF SOLVING MONEY FUN FOR THEM

Tell them funniest and enjoyable ways of saving money. Make a piggy bank such as some toy or shoe box and others which it is attractive. Make an attractive bank card in the simpler and enjoyable manner.

*FOR ADULT

1.       FOR SECURITY AND SAFETY. In terms of emergencies, it is so important to be saving money. While no one likes to think about the possibility that they will lose their job, become disabled or having a financial crisis, the fact is that the matter will happen to people all of the time. Even much smaller emergencies, such as needing car repairs or having to scrape money together during a crisis. Saving money is so important for these types of situations.

2.       FOR PLANNING AHEAD. Every parent would like to see their children go to college. Saving money is an important part of providing for your child or children’s education.

3.       FOR ENJOYING LIFE. Taking a trip to Disney World is a lot more enjoyable when you know that you have paid for the trip with money from savings, as opposed to using credit cards and having to pay for the trip for years to come.