Teach Your Child About Money

What are we teaching our children about money? Hopefully something!

I remember when I was growing up, our family did not discuss money. Money was a taboo subject, discussed by the parents and handled by the father.

This is one thing that I wish that was discussed more openly when I was younger. Just a little guidance such as "save 10% of your income" and I would have been fine!

How I wish I could turn back the clocks of time. How I wish I was encouraged to save even 1% of my income. When I look back at the year I started working until this year 2003, I'm not saying I would be a millionaire but I certainly would have been much better off!

Now a grown woman I have acknowledged and accepted the past and moved on to a great future. My bank account is increasing each year, I am currently purchasing rental properties and I am feeling incredible being and doing what I love-a Prosperity Coach!

Now I don't necessarily encourage parents to show the kids your mortgage statements but I think it is vital that children know that (while the subject of money may be a tad embarrassing for some parents) it IS a necessary part of life. As you start teaching your child, start slow and encourage them to believe in themselves and their future.

Here are some tips to help your child attain prosperity even at a young age:

1. Buy a piggy bank for your younger children. Allow them to choose whatever color shape or size they desire. Invite them to put their pennies into their piggy bank. Once in a while they may count their pennies and reward themselves if they desire.

2. When your children have proved themselves to handling their pennies, take them to open their own bank accounts. Encourage them to save at least 10% of what they receive as gifts (I know I used to receive money as gifts when I was young!  )

3. Your child should be encouraged to donate or contribute another 10% of their savings. Donate to the church, to the homeless, to the depressed, or to a charity of their choice. This would help the youth become more rounded, become more respectful of others regardless of the situation and become more appreciative of their own lives and their own prosperity.

4. Many young children think that "money grows on trees". I applaud this abundance in them (although they may not know that the Universe is in fact limitless) and think we should encourage and nurture this? to some extent!

5. Talk to the kids and let them know that this paper and metal stuff called money is brought about by YOU working. Whether or not you work or you have inherited a large fortune, don't encourage laziness in your child. They need to be able to work for free sometimes to learn the value of hard work.

6. Money101 is not taught in schools. Where your child's future is heading depends on what you want your child to know. Prepare your child for their future.

7. When your child is old enough encourage your child to purchase a journal or a diary where they can record their dreams and desires. This allows them to dream big and look forward to their lives ahead-filled with prosperity.

8. If they can manage and understand the budgeting process I'm all for it. When grandma gives them money for their birthday, after they have put aside 10% each for savings and for donation to a charity, allow them to budget for the remainder.

9. I'm sure there are loads of chores around the house, washing the dishes, cleaning the rooms, etc. Give your children an allowance but let them work for it.

10. Let the kids participate in the family's money decisions. They may not understand everything but their minds will open up to the energy that money has and will prepare them for their lives ahead.

The kids are our future. I know it may sound a little cliché but the fact is?they are. If you truly interested in your child's future prepare them and trust that the process will work and they will be A-okay! I guarantee it!

About The Author

Sandra Baptist works with persons who desire to attract, enhance and increase a more prosperous life. She empowers brilliant highly motivated men and women to transform their negative beliefs about money so as to attract more wealth, more success and more prosperity into their lives. For free consultations contact her at tel: 1-800-666-4754 or at http://www.EliteCoachingGroup.com

Sandra@EliteCoachingGroup.com

---

Bad Boys/Good Boys (Avoiding The Pitfalls Of Being An Insensitive Dad)

I WAS AMAZEDI could hardly believe what I was hearing.... Read More

The Safest Stuffed Toys for the Kids on your Gift List

Although it's hard to say when the first stuffed dogs... Read More

Its OK For Your Child To Be Bored - In Fact, Its Recommended!

NY -- Strange as it may sound, bordom promotes happier,... Read More

Whos Your Daddy? How to be a Great Dad in 5 to 7 Minutes

I am a dad. I have been now for over... Read More

Promote Physical Fitness for Your Child

If your child is to derive the benefits of physical... Read More

Bless Your Child With The Name

What a dreamer I am when thinking about parenthood. Most... Read More

The Secret of Understanding Children

It was a day that I will forever be etched... Read More

Would You Know if Your Child Were Being Bullied? 4 Tips to Keep Them From Becoming a Victim

The 21st Century Problem in Schools: Bullying, and How to... Read More

A Dads Thoughts On Dads day

21 Reasons I Love Being A DadWhat you will read... Read More

Single Mother Sanity Savers Pt. 1

Being a single mother is no easy task. I know.... Read More

Motherhood is a Perfect Adventure

How often do you think of family life as an... Read More

Is a Mothers Love, Medicine?

Minus all meningitis thoughts. The flu symptons were strong. Headache,... Read More

Whos Teaching Your Child About Money?

Managing money is one of the most critical skills we... Read More

Organizing a Car Wash Fundraiser

The key to a successful car wash fundraiser event is... Read More

ADHD Treatment: Strategy and Philosophy

If your child or teen has been diagnosed with Attention... Read More

Teaching Your Child To Lift a Car

Yesterday my husband Wade took the day off (that's one... Read More

The Long Journey Home

Once upon a time, I thought I had it all.... Read More

Cyber Parenting 101

Many parental units are not "techies" and openly admit they... Read More

Working Moms: Too Busy for Your Children?

17 Quick Ways to Strengthen the Bonds of LoveOn Mother's... Read More

Parenting Styles - Overcoming Your Differences

If you spend any time in the parenting section of... Read More

How to Find The Best Time To Be With Your Kids

"Life consists not in holding good cards but in playing... Read More

Hearing Our Seriously Distressed Children

How do we deal with our seriously distressed children and... Read More

When Your Chicks Leave the Nest

When my son was 18 (and had finished school), he... Read More

Parents and Children Working Together

When parents help their children learn to read, they help... Read More

So, The Thing Is... Im Feeling A Little Guilty

So, the thing is? I am feeling a little guilty.I... Read More

Mom vs. Dad: Navigating Parenting Differences With All Good Intentions

Let's face it: raising children can be quite the adventure.... Read More

Drugs and Violence In Public Schools

Many public schools not only fail to educate our children,... Read More

End Babysitter Abuse

Not many things are more upsetting than discovering that your... Read More

Exposing the Damage: TV and Kids

There are millions of young children in this country who... Read More

Raising A High Maintenance Child

Do you have a high maintenance child?"Thank goodness my second... Read More

Mutants or Clones?

In a single dose of children's television, I was bombarded... Read More

What You Should Know About Counseling for Attention Deficit Disorder

At the ADHD Information Library we are big believers that... Read More

Getting Through to Your Teenager

Have you ever watched your teenager make a mistake (that... Read More