Teach Your Child Not To Spend Money

Teaching your child not to spend money is the key to growing up as a safe and responsible adult. What’s more. you’ll make sure you’re not raising a spender.

Teaching your child not to spend money is important for countless reasons. Mainly, you will be promoting savings, responsibility and good management at an early age.

Since ancient times, saving has been present in the life of man. The Chinese and the Egyptians saved a part of the products they harvested to face any type of shortage. Later, it was the Italians who began to save material goods.

Saving is an important mechanism for conserving resources. It does not matter if you are small or big: not spending money is a way of managing the assets that you own.

In children this should be a recurring practice that should be taught by parents. There are many parents who do not give enough importance to this matter. Teaching not to spend money takes a back seat to other lessons in many homes.

Why teach your child not to spend money?

The reasons for teaching your child not to spend money are varied. You have to understand that you have to promote good behaviors that will make your little one a good person. Remember that many of the behaviors you have as an adult were learned as a child.

Encourage savings

As a parent, it is highly recommended that you not only teach your child not to spend money, but also encourage saving with him. Make an effort to explain in a simple way and according to their age how to save and the importance of doing so, as indicated in this work carried out by professionals from the Pedro Henríquez Ureña National University, Dominican Republic.

This learning will cause your child to grow up with a culture of austerity. This is important in the face of any economic crisis that your family may suffer.

Saving is necessary to avoid waste. One suggestion is to create habits in your firstborn regarding this topic. Give him a pay, give him a piggy bank or offer yourself as the person responsible for his finances. In the future he will thank you. If you don’t know how to teach him about saving, lean on games and toys.

Encourage a sense of responsibility so as not to spend money

Teaching your child not to spend money can also encourage their sense of responsibility, as evidenced by this study published in the Paradigma Magazine . Your little one will be more aware of his possessions and what they represent. After all, you go to great lengths to provide him with what he needs.

Encouraging a sense of responsibility with practices such as not spending money, in turn, can help your child use this value in other contexts. Responsibility is a necessary quality in many aspects of life. Therefore, everything that involves strengthening it in your little one will be useful for him to be a good citizen within society.

Promote good administration

Generally, children do not have large expenses compared to what you could have as a mother or father. However, it is recommended that the money you give your little one is well managed. You need to educate your youngster on essential and unnecessary expenses.

The correct administration, without a doubt, is one of the good behaviors that you can promote in your child. It starts by motivating you to manage your belongings. Then, try to encourage respect for the resources of others and spend only what is essential.

Recognize the value of money not to spend

Money necessarily has a value. Your child must learn to recognize it. Whether you live in opulence or modesty, you must ensure that your child understands what money is worth. This will serve as an idea for you to understand that it cannot be spent on superfluous issues or temporary whims.

Likewise, we advise you to make your child see that money has a limit. It has a beginning and an end, so it is not constantly available to you. This learning will help your little one to value money and prevent phenomena such as the rich boy syndrome from appearing.

Consequences of not saving since childhood

Not saving from childhood can have innumerable consequences. Not saving gives rise to waste and, surely, will cause problems when the little ones are adults. Likewise, not saving leaves you completely helpless in the midst of a financial quagmire.

Not teaching your child not to spend money in any way contributes to the consumer culture. If you do not instill the importance of saving in your child from infancy, you will create an irresponsible being and probably a bad manager. Your child will see the action of spending money as something recurrent and normal.

Ultimately, money is one of the forces that moves the world. Neither you nor your child are exempt from being influenced by the expense. Therefore, it is crucial that you, as a mother or father, set the example in terms of not spending money.

Children are the reflection of their parents, which is why they imitate their behaviors. Try not to give your children, through your actions, reasons to fall into inappropriate behaviors with respect to their resources.