In 2011, Warren Buffett, the stock god, cooperated with The Secret Millionaire’s Club to launch children’s entrepreneurial toys, so that children can understand good financial management habits and some major financial management issues from an early age.
He once said: “I want children to have a better understanding of financial management and start thinking about certain principles of saving money and learning.” So, what is his teaching method?
Here are four financial issues he believes children need to understand as early as possible:
Companies you may be interested in
photo credit
How to become a flexible thinker
Encourage your children not to give up when they encounter difficulties. Having the ability to think flexibly and out of the box can help them face financial challenges in the future.
Practice activities:
Go to an art gallery with your child and discuss the different styles of each piece. When you get home, invite them to create their Greece Phone Number List own piece, and get them thinking about all the tools besides the paintbrush to create the piece.
Let the children think of new functions for household items, such as turning used boxes into bookshelves on the table, using used tissue paper boxes to store small stationery, etc. This can help them think from different perspectives and cultivate their money-saving and environmental awareness.
How to start saving money
To understand how to start saving money, you must Kuwait Phone Number List first teach your children the difference between needs and wants.
Contact Activities:
Give your child two piggy banks, one for saving and one for spending. Use every time they receive money and discuss with them how to allocate their money.
Have your children make a list of the things they want to buy, and discuss with them which ones they [want] and which ones they [need].
