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Money management for youngsters
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Money management for youngsters, money, money management, youngsters, youngsters with money, children with money
Industry :
Money Management, Asset Management, Banking, Insurance
Functional Area : Consumer Sales, Inusrance, India |
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About "Money management for youngsters " topic:
Does your kid spend money on all the unwanted stuff, it has to do with the little or no knowledge of Money management, and the allowance that they get these days, how can they use it wisely and learn the tricks of managing money on their own from the very early itself.
It is never too early to learn about the value of money and how to budget and save. The earlier you can teach a child about earning interest versus paying it, the better prepared they will be to manage their own money.
So, let us discuss the how we can teach money management for youngsters, and also their spending behaviour...
1 insight
, 1 debates
, 3 idea contests
, 1 question
on topic: "Money management for youngsters "
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Teaching them how to devise a budget plan
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Give them a Big picture
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Rajesh Jain
| Added idea
"Let them realise the value for money..."
| 2 years ago
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Availability of free money to spend will never give chance to realise the importance of it, let youngstar earn hard money and rest they will learn automatically....
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vivekananda sharma
| Supported idea
"Introduce them to a Bank A/c .. learn savings"
| 2 years ago
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I aapreciate your idea and surely it will go a very long way in helping them to save.Sharma
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Ideate: "How can we teach youngsters about Money management??" deleted from your view.
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1
Apparel Shopping
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Play station, Mobile Phones, IPOD....
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puneet
| Supported idea
" Apparel Shopping"
| 2 years ago
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yes changing habits to spend among children.
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Anand Hisaria
| Added idea
"Segmenting the kids on the basis of their parent's income would be an appropriate idea."
| 2 years ago
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A large consumer base in India (kids in this context) belongs to lower middle class and middle class. So the pocket money concet hardly exists in these two classes. Their buying decisions are mostly depends upon what their parents can afforad....
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T.L.BALACHANDRA
| Supported idea
" Apparel Shopping"
| 2 years ago
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Yes. todays youth are after apparals after seeing adverstisements in TV/MAGZINE. The faschion desingers keep adding new ones to increase their Bussiness. Youngsters feel by wearing latest apprarels,cooling glass spectacles,mobies. Boys wants to...
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Ideate: "What are the things that today's kids spend their money on??" deleted from your view.
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Many people are worried about the future of their children want to secure it. There are many ways.....it could be * Investment * Insurance * ...
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Kishore Mishra
| Answered
| 1 year ago
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Yes, agree with Mr. Vipin.. there is no age limit for children to open a saving a/c...
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Vipin Bhasin
| Answered
| 1 year ago
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Although there is no any age limit to open an account in any bank. But there is a little bit difference between OPENING OPERATING/RUNNING the account. Before the age of 18 years , the name of saving a/c is MINOR SAVINGS. In this a/c MINOR can't...
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PS Dhingra
| Answered
| 2 years ago
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All that depends upon the maturity of mind of a child. If he/she understands the banking and can operate his/her account, there cannot be any age restriction to open an account. Post Office Savings Banks allow even 10 years minors to open and...
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Answer: "What is the right age for youngsters to open a bank account??" deleted from your view.
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We all know that money cannot buy happiness, but without it it’s hard to do anything. Here are some ideas to consider about managing your money: 1. Always look for value. Avoid luxuries and try not to buy things at the full price. Always negotiate if you can. 2. Make sure you meet your needs and hold off on your wants. 3. Ask for and expect to get a discount. 4. Make sure you keep a record of your spending so you can analyse where your money is going. 5. Break down your spending occasionally so you can see exactly what your money is being spent on. 6. File all the records of your spending away. 5 Money Myths There is an old African proverb that says, “A person should be ...
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Shaji Khan
| Commented
| 2 years ago
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Thanks a lot for this wonderful article. Gives us a complete insight. Also glad that you demystified the myths and advice to invest.
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Vipin Bhasin
| Commented
| 2 years ago
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Sonali well knowledge sharing & ideas for young generation. Yeah we can make self analysis on the basis of our experience & invest our money in growth investments i.e. equities, MF Real estate, gold, currency etc. And you have given idea for start...
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Insight: "Youth Managing Money " deleted from your view.
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1
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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manikanta raj
| Added idea
"a strategic approach which is more practical and self thought."
| 2 years ago
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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...
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Shaji Khan
| Supported idea
"Teach them how your money can make money."
| 2 years ago
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I definitely agree with Ekta on teaching the children about investing for future.
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Ideate: "How can we make kids understand to learn the Value of Money?" deleted from your view.
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(rate this)
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By money
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By praying
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Sandeep Bhati
| Argues in support of
"By money"
| 1 year ago
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Money and Pray both have their own value at different place. So we have to help both by money and pray.
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Debate: "How can we help Japan ?" deleted from your view.
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