One of the misconceptions of people is that they feel that kids are too young to appreciate money. At an early age, parents can already teach their children the value of saving and in case you are not too sure how, read on:
Let your children earn money – You can do this by giving them a small amount when they do household chores or when they do their home work before playing. Every little bit helps.
Help them make up their very own budget plan with the money that they have – Explain to them patiently that they would have to save a certain percentage of their money each time they would like to purchase something.
Let them realize that they need goals – If your child would like to purchase something, let them know that they would have to work hard for it so that they will the fruit of the labor that they have done.
With these tips, it will be easier for kids to understand the value of money so that they will understand that money does not truly grow on trees.
I want to give my kids something for Christmas, but I have a limited budget to cover for two Christmas gifts. It isn’t doing well at hubby’s office and the employees have yet to receive their 13th month pay, so we have to make do with what we have. I might just get the kids an item that they really need something they can use every day. Do you have any suggestions for a gift under $5?
Hubby and I are thankful that our kids have been awarded a scholarship and financial aid this year. You may have read my usual concern every enrolment: money. We have difficulty raising funds for enrolment, but this year, we have these scholarship and financial assistance to fall back on. First, my daughter was granted an academic scholarship which entitles her a 50 percent discount off her tuition. The scholarship also covers free school uniform (3 sets) and one set of P.E. uniform. For my son, he received P20,000 financial aid from DepEd (which goes straight to the school). This covers two- school year. We only paid for books when we enrolled him yesterday. To keep these scholarships, the kids have to maintain good grades all throughout the school year; otherwise, we have to pay their tuition in full. For now, hubby and I are beginning to save for other important expenses that our incoming college student will have.