Parents have plenty on their individual plates when it comes to teaching their children. This is especially true when you bring finance into the fold, as it's one of the most complex topics that can be taught. However, it doesn't necessarily have to be challenging, as there exists a bevy of tools for parents to use. As a matter of fact, here are just a few of the tools in question that the likes of Bob Jain can tell you all about.
Play Money - For new parents, play money is one of the more underrated tools that can be used for teaching purposes. Not only is it a great way to simulate transactions, but you should know that it can be used to teach addition, subtraction, and various types of simple equations. While play money is basic on the surface, it can prove quite useful early on in a child's life. Financial authorities like Bob Jain Credit Suisse would be hard-pressed to disagree.
Allowance - While allowance is often given for the completion of chores, there's more to it than that. Allowance is meant to be given in small amounts over the course of time; the reason for this is that it gives children the incentive to save up. It's a great skill to develop early on, since it shows kids that spending everything they have doesn't exactly pay off. This is yet another effective teaching tool that Bobby Jain CS can recommend.
Life Lessons - Even though the aforementioned tools matter, they don't seem to go as far as life lessons in general. Regardless of how much parents teach their children about anything, mistakes will still be made by the latter. Instead of said mistakes being dwelled on for too long, though, they should be viewed as lessons for the future. This will prevent the same errors from being made in the future, which will help with long-term financial stability.
Hopefully these tools will help you attain a better grasp on teaching, as far as finance is concerned. When you have children, it's imperative that you teach them, which will span various subjects. Needless to say, finance is among the most important. Fortunately, the tools discussed earlier will hopefully make the process easier on your end. More importantly, though, it should help your children better understand what finance is all about.
Play Money - For new parents, play money is one of the more underrated tools that can be used for teaching purposes. Not only is it a great way to simulate transactions, but you should know that it can be used to teach addition, subtraction, and various types of simple equations. While play money is basic on the surface, it can prove quite useful early on in a child's life. Financial authorities like Bob Jain Credit Suisse would be hard-pressed to disagree.
Allowance - While allowance is often given for the completion of chores, there's more to it than that. Allowance is meant to be given in small amounts over the course of time; the reason for this is that it gives children the incentive to save up. It's a great skill to develop early on, since it shows kids that spending everything they have doesn't exactly pay off. This is yet another effective teaching tool that Bobby Jain CS can recommend.
Life Lessons - Even though the aforementioned tools matter, they don't seem to go as far as life lessons in general. Regardless of how much parents teach their children about anything, mistakes will still be made by the latter. Instead of said mistakes being dwelled on for too long, though, they should be viewed as lessons for the future. This will prevent the same errors from being made in the future, which will help with long-term financial stability.
Hopefully these tools will help you attain a better grasp on teaching, as far as finance is concerned. When you have children, it's imperative that you teach them, which will span various subjects. Needless to say, finance is among the most important. Fortunately, the tools discussed earlier will hopefully make the process easier on your end. More importantly, though, it should help your children better understand what finance is all about.
About the Author:
Please contact Bobby Jain Credit Suisse if you would care for more financial tips from Bob Jain Credit.. This article, Bob Jain & The Best Tools For Parents For Teaching Finance is available for free reprint.
No comments:
Post a Comment