10 best Ways parents can teach their children Better financial discipline

This video is all about good saving and money habits all aimed at our kids. Saving money is a habit that parents can teach their children at a young age. The first step is to explain important concepts such as savings, a budget, and goals—then keep the conversation going. Giving children an allowance can teach them the value of money—and of hard work, if chores are involved. Younger children might keep their savings in a piggy bank, but older ones might want to keep their money in a bank or on a debit card while working on their goals. Children can learn the importance of living within their means, which is one of the basic tenets of saving. We are often asked for what our top advice would be to parents – so here are 10 practical tips on how to help your children learn about money at home. As the cost of living goes through the roof and many of us need to rein in our spending to cover those household bills, parents may be wondering how to chat to their kids about finances. What’s one thing you wish you’d known about being a parent before you became one? For me, it’s just how expensive having a child can be. When my son was born over six years ago, I knew our expenses would go up, even though we were lucky enough to have free daycare courtesy of his grandparents. But diapers, health insurance and all of that baby gear we thought we just had to have really added up. When getting ready to embark on this exciting (and, perhaps, scary) new adventure, preparation is key. Both before the baby arrives and in the weeks after, it’s especially helpful to be ready for the financial changes to come. It’s estimated that total child-rearing expenses from birth to age 17 for a middle-income American family is now $233,610. Although the range of expenses across families is wide, the truth is that adding a little one to the family is quite expensive. passing money literacy knowledge to kids is the best gift a parent can pass to their kids and it will grow them to greater heights. Below are deeply analyzed bullet points to help you nuture your kid to the version that will not only benefit them personally,but also you on the long run.Its just like investing in your self indirectly but through your kid,sounds right?here are the points: