TDS Financial Group

🎅🏻 *This Christmas... Be Santa For Your Children* 🎅🏻

🎅🏻 People think that talking about finances with their children will make them money-minded, but as the issue is skirted, you now have children who shop without even bothering to check price tags.

🎅🏻 It is vital to make your kids learn how hard it is to make and save money. Forget the idea that your child has to have everything - your job as parents is to provide everything she or he needs, not everything she or he wants.

🎅🏻 Pocket money is a great way to teach kids how hard it is to earn money - if they need more than you give, have them earn it, say by helping out with more than their usual share of the chores.

🎅🏻 It is impossibly hard for parents today to turn a child down, because they will inevitably find that their child's friends have access to something that they are denying their child.

🎅🏻 If you fail to teach your child now how to do without, remember that you're setting them up to suffer daily dissatisfaction as adults.

🎅🏻 Events like birthday parties can be turned into learning opportunities, *"why not have a money themed party with games/stalls that teach kids about responsible spending."*

🎅🏻 In online era, cash is invisible. Allow kids to hold cash and hand it over for small transactions. Let them pay, let them collect the change. They enjoy being entrusted with the responsibility.

🎅🏻 Children observe their parents making choices by comparing prices and quality of goods, and how you don't give in to your need for instant gratification. Do say things like, "I would really like to buy this perfume, but I am running over budget and will buy it next week/month."

🎅🏻 Take your children to the bank you visit and introduce them to the various counters and facilities. If you are opening bank account for your kids, let them do the paper work.

🎅🏻 By age 13-14, teach your child to park part of their pocket money in mutual funds. This will teach them power of compounding. Besides, this is a habit you want to encourage.

🎅🏻 Do not hesitate to have heart to heart talk with your kids about finances. If you are strapped for cash, tell them. Children are smarter than we think - they will understand. Having these conversation will not traumatise the child; rather, he or she will emerge smarter.

🎅🏼 *Be Santa For Your Child -* _Merry Christmas & Stay Yummy!_