Talking Money to Kids.

Ohh my God, how can you talk about;this? Is that what's running across your mind!! In our indian system of lives, we aren't allowed to discuss some "stuff" with kids. We cannot discuss money, cannot discuss menstruation, cannot teach them about good touch bad touch. We wait for schools or life to teach them all these;things or probably now the YouTube and internet gives them more information than we should do as parents.;

I chose to write about this after a particular incident that happen the weekend before Ugadi. My husband and I, took our son for the festive shopping. As usual, we chose a mall instead of a stand alone store, so that we have different options and brands to look at. While I was busy choosing clothes for Aarav, my husband and Aarav were in the toys section. He (my son) chose a particular car and he wanted us to buy him that, roughly priced around 3.5k. and a small puzzle. We gave him an option to choose between stuff, but he wanted both. We managed to divert him, bought him some puzzles and clothes and moved out. Midway home he realised we didn't buy him the car he wanted and kept saying and expressing resent that we didn't buy him that toy.

;As parents each of us wants to give our kids the best and what they like the most. But I have a theory to this, buy such expensive stuff if your sure your kid is gonna actually play and use it, because they usually loose interest in a day or two. The same night, at bed time my son was still unhappy, so I just told him we'll pick it up next time and put him to sleep. After he slept my husband said "Mahima how do we tell him the expensive aspect or the aspects of money." His intention was that he should understand what's what and it's not just about buying and giving him what he wants . I kept thinking about it every since, I guess I have been able to figure out how to handle this and wanted to share a few tips with my co mom's too.

1. Never talk in figures. It can give them a wrong impression that we are not ready spend or feel it too burdening.;

2. If your kid is above the age of 8, tell them the budget you have in mind. It's ok to tell them and let them decide. It will help them to manage their finances well in their future.;

3. Once your kid reaches the age of 6, give them some teeny meeny pocket money and teach them to save part of it. Like for example, say you give ₹10 and give them a coin bank and tell them to put about ₹3 or so in that. Will help them learn savings

4. In Indian system, when someone new meets the kid for the 1st time, they either get them gifts or give them money. Do not use it for your personal needs. Teach them to save it and use it later to buy their fav toy or books or stationery. It will help them organise their finances in future.;

5. Never talk about how expensive the stuff is , talk about how valuable the stuff is.

6. If your kid has crossed the 10 years mark , teach your kid that money is earned, doesn't come most of the western countries kids work for their pocket money...I wouldn't say let them work for somebody or anybody. Give them small tasks at home with an assigned price they would earn for it. It will teach them both hard work and value of earnings.;

7. When your kid turns 15, give your kid some basic responsibility of handling few things at home. You provide and watch them do it. Will help them to cater to financial reasoning.;

8. Teach them to make note of their expenses and evaluate the expenses.;

It's time we broke stereotypes and discussed with our kids the "unspoken", the "undisclosed". It's time we prepared them for a richer future by giving them small and simple monetary lessons at a; age when it's easy to learn and accept correction. Some of you may not agree with me, but I feel personally that we should talk and teach about this aspect of life too.;

Priya Sood Swati upadhyay Khushboo Chouhan Saumya Pillai Kanchan negi Sathya Kalaiselven Smitha Prabhav Nimmi rathore Varsha Rao Kuljeet Kaur Dr. Payal M Isha Pal Kritika Lall Sania Bhushan Renuka pillai Rebecca Prakash Nancy Singh Vidya Rathod

Very important topic, to teach every child .thanks for sharing dear. mera beta 5year ka hai wo bhi jid krta h ye b lelo wo b lelo sari chije dilado otherwise he cry. I am very worry about his nature

Thanks for sharing this.. Mera baby abhi chota hai.. but Dhayan rakhugi.. ki use money habit na dalu

Kanchan negi , this is what made me think so much and I came out with this post...yes they will cry, but I give a choice to my will get one now and one later...or else none...and sometimes it pays off...I let him stand there and think...

Isha Pal 😊😊🤗🤗😍🥰

Very informative👌👌

Handling money today is the most important thing. And teaching those tiny miny minds the importance of money mindfully can be very difficult. Thanks dear. Very helpful😇

Very helpful

Sania Bhushan Swati upadhyay thnq 😍🥰

Saumya Pillai thnq

Well said dear! Most important thing to be noted as a parent

Thank you Sathya Kalaiselven

Mahima Krishna A you just reminded me of my mother! This brought me back so many memories from my childhood. She'd brought us up with the understanding of value of money. She made us understand the value of things. We were neither denied anything nor were we spoilt.
We also got to do chores we were paid for instead of pocket money and we had cute tiny wooden boxes where we could collect the money. She would take us out and then we could buy our own stuff. We felt good.
I hope to pass it on to my own child.
Lovely post!

♥️🥰 aww...Smitha Prabhav ..thnq

Thats so true.. showing them the value of stuff rather than letting them know its costly.. ur article helps them to b good at decision making, savings n be a smart kid... good tips i must say

Thnq Ramita Karki

Very well said dear😍

This is such a sensitive topic. We need to be so careful in also they way we treat money.... cause kids observe

Priya Sood ...yes it is....and needs to be addressed carefully and we have to be you said they are far more observant than v think.....

Mili kumari thnq 🥰😍

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