| Topic : Money management for youngsters |
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Banking & Insurance Professionals |
Investment Hub |
Equity Derivatives Trading |
2 more ...|
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Activity:
123 views;
last activity : 07 06 2010 20:18:09 +0000
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Teach them how your money can make money.
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a strategic approach which is more practical and self thought.
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Instill Values
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Teach them about the value of money
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Understanding of value of money
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Alllow them to transact for their needs
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Bonus point
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This is the lesson on investing, and it’s a lesson many of us can
learn. It’s one thing to save, where you get perhaps 5% interest. But
if your kids are going for short-term goals, they probably won’t see
much compound interest happening. You’ll need them to make a
longer-term goal, such as a trip once they graduate, if you have a
teen-ager, or a down payment on a car, or even something a little
smaller. Whatever the goal, teach them about how they can put their
money in certain investments, and how those investments will grow over
time. |
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I definitely agree with Ekta on teaching the children about investing for future.
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value the money. good habit. can be thought through a strategic approach so that it is deeply rooted in ones life in natural way. When a child become 10 years old, in vacations give them an opportunity to earn money where they can do some petty jobs for a month. preferably in known concerns to you. definitely they will be happy showing you the money earned by them at the end of the season. Ask them to invest 50% of such earnings in his/her name in some financial scheme. Surprised when such money matured and an unexpected gift purchased for them is actually done by their own money. Happiness, proudness cherish. A cultivation of this habit in child hood ensures that concerning about money and its value is a natural behaviour moulded in genes of the child as they grows. |
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Well, children and money..... Its an interesting combination. No child knows and values money. Children think that their parents have lots of money and whatever demands they make, they have to come true. It all depends on the values you imbibe in his early childhood that will determine his future too. So, I believe that parents should make the child learn to save first. Simply put, you need to advice your child that whatever he wish to have in the future, he needs to use his own money to purchase it. This will certainly deter him from making unwise purchases and help him purchase what he desires.
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Yes we should try and teach them the value of money. If he learns about it the earlier the better. He will be able to fight his way out. Though all the things can not be taught but most of them can be taught. In this era of modernisation when we are supporting them to be singers, chess players, dancers and all of those fields in which we feel they can be successful. Then why not tell them about the value of money and make them aware of its uses as well ways to safeguard it. This way he will be able to contribute better towards the betterment of the society at large. |
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Teaching all the time will not going to work untill unless it is not followed by the parents. Because child learn from his/her parents. Means we have to make the standards which attract to the child to follow the same and good way of investment.
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Allow them to pay for their toys, Chocolates & clothes , which means mere involvement is enough and not to handover money in their hands, Its important for all parents to teach kids about various aspects of Value i.e. Perceived or actual, Some people may feel satisfied when they spend money on something, even though they do not get any thing in return i.e. services |
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Depends upon the age of the child. If he or she is too small, who does'nt know the value of money, difficult to deal with them. Yes but we can deal with a kid who knows the value of money. Allow them to purchase their things in such a manner that they will not overspent the money, keep a target of xyz amount within which they will try to manage the things and give them option like if you will save so much of amount we will give you bonus amount or else gift or something like that. Saving is one kind of invstment only which varies from person. |
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Mobile money transactions have failed to gain customers confidence is what I have read. But is it because people are not aware. If I use something which is good I will surely recomend it to someone but when I just do not know enough about the... |
What happened with you is not the case everywhere and always. It is bad at the part of Bankers there. It should not take that much of time. This is unacceptable.. |
Mr. Srinivas has explained the whole thing very precisely. To bring inflation under control there are still many things to be done. But perhaps it is not possible for them to do all this. |

