A child's education permeates several factors and areas of knowledge, such as financial education. In this case, many parents don't know exactly how to start teaching their children about money, and that's why they end up reproducing many mistakes in the financial education of children. See here what these mistakes are and what to do to avoid making them.
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Teaching how to take care of money should be as complete a task as possible, so one should try not to be superficial, although there should be a focus on didactics. Below, we list some of the crucial mistakes that prevent children from learning effectively about how to save money.
Not teaching to decide
The initial step in financial education is teaching about the need for decisions, after all, dealing with money is dealing with choice. As you cannot have everything, it is important that the child has the dimension that, when choosing a product, he will have to give up another. So remember to lead him to good decisions.
Not teaching about the need to save
What is the first thing your child does when you hand him money? Most likely he thinks that spending is the main function of money, and in a way it is. However, it is never too early to educate about the need to save for possible future problems.
Not teaching the difference in price and value
This is a problem for many adults, including those who fail to recognize that price should not be the only determinant when buying a product. That's because we need to think about the durability of this product, its function, and how well it satisfies a need or solves a problem.
This, in this case, is the value that each item has, and which is often not even considered, even more so when you are a child. Soon, the child needs to understand as soon as possible that buying is not an end in itself, because we buy for a reason. For example, a good tip is to make your child think about how a toy will make him/her happy and for how long, and then decide to buy it.