We learn many things as the years move on. Some of these lessons are learnt in Chemistry class. Others are studied only when the exams arrive. Yet other lessons are learnt outside our classrooms. We learn to be less impetuous and much more alert. We learn to believe in ourselves even when others won't. We learn the importance of being earnest. We understand the need to be honest and to be a person of integrity. These lessons are common to us all. Among these is the one where we learn about the value of money.
Remember our enthusiasm in finding and placing coins in piggy banks of various shapes and sizes? Birthday gifts from loving uncles and aunts instantly disappeared into our money boxes, as did the earnings from different errands that we ran. Coins and notes that we stumbled upon on the way also found their way into the piggy banks. After days and days, only when the piggy bank got heavy, did we make up our minds to smash it. Then we spent hours thinking of the best way to make use of all that money. We wanted to get the most out of it. I think that is how a lot of us learnt about the value of money.
If you are instructing your little boy/girl about the importance of money, and he is a little big for piggy banks, get him a savings account. It is a foolproof way of making sure that your kid has an appreciation of the value of money. Put some money in the savings account, give your baby a passbook, and watch him begin to see to his money while he is still in school. This will work far better than yelling at your child for having no idea of the value of your money. He will have no idea of the same if you do not give him a fixed budget. If you continue to complain, and simultaneously indulge him with the most expensive gifts, this is a lesson that your child shall never comprehend.
How do you find a good enough savings account for your child? Now, that will not be too hard. Banks everywhere are keen to get younger and younger customers. “Get them young”, as they say. This is the age group that they are hoping to woo so as to build brand loyalty. Do some research to find some good savings account plans for children and choose the one that is the ideal option. Not only will a savings account teach your child the value of money, but you might soon have an accountant in your house.
