Family Budget and Home Management II

  

This is quite a long topic so I had to break it into two parts. now for the conclusion....

Talk about ways to save:  As adults we know that saving money requires a lot more than dropping 

a few notes in the bank at the end of the day. Instead a lot of budgeting and saving relies on what you don't spend. Recently I know how a lot of families in Nigeria are experiencing the economic crunch,so as a family I will urge that you talk with your kids about ways to save money around the house;wether turning off the lights when your kids are done in a room, cut down on food wastage turn off water when not in use. Involving your kids in the money saving ideas can help them realise how precious a commodity  like money actually is, it is something we really need to encourage. 

Let them see the products:  If your original plan was to save extra money for a gift or a trip to Disney, obudu, the village or even fun places within the city, make sure you pull through and let your children see the fruits of their labour. Without seeing the positive result of being frugal or donating their allowance and being smart with money, they may start to think saving isn't  a valuable way to deal with money.

Even if you don't meet your financial goal, it is the perfect time to sit down, talk about the amount of money that was saved and what the family wants to do with those funds, you might be surprised at how your kids handle the idea if you present it to them in a positive way.

Finally saving money should not be left to you as a parent, even if your kids are young' enlisting their help in saving for something special introduces them to the concept that money does not grow on trees. This lesson will benefit your children throughout their lives. The better their understanding of money and the way it works, the more they will think about what is involved in a purchase and the better spending and saving habits they will have as adults. So next time before they ask "mummy I want this or that " they will rather say mummy may I have this or that. 

  I hope you all have learnt something on saving, give it a try saving is not that hard or is it?.