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Every Kid Should Know the 3 Things What They Can Do About Their Money and How to Do It

How to manage money is one core principle most families must teach and do for their kids before they even reach 15. Like putting up a business rather than indulging them, it is best to help kids learn how to make use of their money. It is said that 46{a297cf9dc7a3561ea4de82dfe41a4812581d7c1162289af1e080f3bbdd650976} of parents have gone into debt just to pay something for what their kids wanted according to a popular book by T. Rowe Price, 2016, Parents, Kids & Money Survey. But it doesn’t need to happen that way, here are 3 painless ways that kids should know about money and earn it even before they reach 15.

Save for a Goal. According to experts from Joe Manausa Real Estate, saving for a goal can start simple and start small. You can help them to open a bank savings account and teaching them to save up for the future. It is expected that kids can’t grasp yet the essence of why it is important to save up. Kids can learn to put aside their coins to buy a toy or a collectible according to experts from Joe Manausa Real Estate. You can tell them that every dollar saved is a day that they don’t have to borrow or ask for money from you.

Manage the Allowances. A spare time is what kids can use after school to do some chores. They can earn an unlimited amount of money as long as they put their effort and focus to it. To start managing their own allowances you can encourage them to set aside some money for their savings and earn money by doing some chore jobs. Things like vacuuming, raking leaves, selling lemonades during summer, handing out pamphlets for Joe Manausa Real Estate, or taking out the trash, are some things that they can do.

Early Business Exposures. To give your kid a tour on how real estate firms operate you can visit Joe Manausa Real Estate office. Your kids will learn a lot from the mini-tour and have an idea how to earn money and how it is done. Joe Manausa Real Estate and their associates are encouraging kids to learn business while they are young. It is best to tell them that you are doing this because you care about their future. Tell them about the rights of every consumer, tell them about discounts. You can show them how to compare prices and how to spend smart. It is not just about teaching them business, math, computations, how to earn, but the habit and the principles on how to manage their money and savings.

These 3 important things are the best ways kids can learn about handling money, saving up, and how to spend it.

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