TEACHING CHILDREN GOOD MONEY HABITS WILL HELP IN THE LONG RUN

The Straits Times pg 33 , 8th May 2006

It is good to teach children good money habits, as this way they will learn about the real importance and value of money at a young age. Often, parents are the ones who have the greatest influence on how their children view and handle money as they are the closest role models for them. If the parents handle their money loosely and flaunt them out in the open and spend it like water in front of their children, in the future the child will grow up not having much regard for money and spend it unwisely too. Therefore it is very important for parents to set good examples of practising good money habits in front of their children as they can easily pick up the behaviour of their parents. By enforcing good money habits in children, they will be able to handle their money well and save up enough for them to have a safe and comfortable life in the future. Thus it is important to teach good money habits to children while they are still young and willing to learn.