11/23/2017

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Teach Your Children To Save

If you want to teach your children how to make their future brighter, teach them how to save their money.

As a parent, your job is to teach your children how to survive in a world that is constantly changing. If you haven't noticed, there is a big difference in the way things were when you were a child and the way things are today. You can't even imagine how different things will be tomorrow.

The one thing you can count on is change because change is constant. You see change in the world around you, in the way people live, the way they think, the way they communicate, the way they network with each other, and the way they act and react to the ever growing transformations in social and economic forums.

What is causing the world to change so fast? In a word, it is technology. Technology is expanding so rapidly that it is almost impossible to keep up. The things we marvel at today will be obsolete tomorrow. This is the new world your children are growing up in and you, the parent, have to stay tuned in and learn how to keep your children grounded.

It has become just as easy for children to know about what is going on in China on a daily basis as it is to learn about what is going on in their own neighborhoods. Computers, the internet, cell phones, and satellite and cable television has made the world a much smaller place by bringing the world into your home in an instant.

In a sense, your job as a parent has been made easier, but technology isn't all there is to life. There is still a need to teach your children some basic lessons about everyday living. One day, your children will grow up and become adults and they will need to know how to manage their money and make good financial decisions.

You will need to teach them the importance of saving their money and investing it wisely. It's never too early to get your children in the habit of saving money. The earlier they start learning what money and finance is all about, the greater the possibilities of success will be later in life.

For an infant, a good investment is a piggy bank. This may seem old fashioned, but it works. A piggy bank is not just a toy, it is a tool that can be used as a means to teach your children how to save and give them an early start on the road to financial success.

The next step is to open a savings account at your local bank. The money from the piggy bank can be used to open the account. As the child gets older, you can let them fill out the deposit slips, give the money to the bank teller, and teach them how their deposits, along with the interest, adds up.

A savings account will give your children pride in knowing that they have accomplished something that will help make their future brighter. As your children grow older, the things you teach them about saving and managing their money will help them immensely throughout their lives.

The money your children start saving as an infant can have long term benefits. It can help pay for their college education, help with the down payment on a home, buy their first car, or it can be their for them when they start having children of their own.

Technology is a vital part of the world we live in and it should be embraced and enjoyed. But as a parent, you should teach your children that technology comes at a price and they should work and save for the things that are essential for them to live prosperously.

 

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