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3 Things Every Kid Should Know About Money Before They Reach 15 – How to Do It

Before they reach 15, teaching kids how to manage money is one core principle most families do for their kids. To help kids learn how to make use of their money, like putting up a business, rather than indulging them is understood as a smart choice. According to a popular book by T. Rowe Price, 2016, Parents, Kids & Money Survey, says that 46% of parents have gone into debt just to pay something for what their kids wanted. But it doesn’t need to happen that way, here are 3 painless ways that kids should know about money and earn it even before they reach 15.

Save for a Goal. Saving for a goal can start simple and start small according to experts from Joe Manausa Real Estate. You can help them to open a bank savings account and teaching them to save up for the future. It is expected that kids can’t grasp yet the essence of why it is important to save up. Joe Manausa Real Estate and their associates believed that kids can learn to put aside their coins to buy a toy or a collectible. They don’t have to borrow or ask for money from you if you will tell them that every dollar that is saved a day is the answer to their first predicament.

Manage the Allowances. Kids can spend a spare time after school to do some chores. Do you know that as long as they put their effort and focus to it they can earn an unlimited amount of money? You can encourage them to start managing their own allowances by setting aside some money for their savings and earn money by doing some chore jobs. They can vacuum, rake the leaves, sell lemonades during summer, hand out pamphlets for Joe Manausa Real Estate, or take out the trash for their neighbors, are all small things that they can do and earn money from.

Early Business Exposures. To give your kid a tour on how real estate firms operate you can visit Joe Manausa Real Estate office. Your kids will learn a lot from the mini-tour and have an idea how to earn money and how it is done. The people behind Joe Manausa Real Estate are encouraging kids to learn business while they are young. Let them know that it is for their future. Tell them about discounts and tell them about the rights of every consumer. And nothing beats a real-life trip to a convenience store. It is not just about teaching them the principles and ethics of business and earning money, but it is about building a habit and principles in them, so that later they will be the ones to pass it on to their children as well.

The best ways kids can learn about handling money, saving up, and how to spend it are these 3 important things.