Erica Fernandes is known as a top actress in the TV world. Erica has worked in many TV series and shows. Erica told during an interview that her childhood was not normal at all, and she had to face a lot of financial crunch.

According to Erica, when she was young, her father fell very ill, and her mother had to go to work. Those people did not even have money for food. his/her relatives used to give money to meet the household expenses. To go to college, Erica used to get only 20 rupees, out of which 10 rupees was the bus fare, and for 10 rupees she used to eat Frankie.

So in this way Erica had to face financial crunch in her childhood. Because of this, Erica understands the value of money today. Every parent should explain the importance of money to their children from an early age so that they never face shortage or shortage of money in their life. Also, when they grow up, they should be able to do financial planning for their future well.

Teach children the importance of money

Piggy Bank

According to Orchid International School, teach your children the value of money, its management and how to use money responsibly. Make piggy banks of different sizes for your children so that they can put money in them according to their goals. Once they reach their goal, they can break the piggy bank and buy something of their choice.

pocket money

You can give your child pocket money every week to buy something of his/her choice, but along with this, also explain to him/her the value of money and why it is important to save it. When the child wants to buy something, be it small or big, then ask him/her to buy it with his/her own money. This makes the child understand the importance of hard work and money earned.

give examples

You should set an example for your children and make them understand the value of money. If they see you wasting money on junk food, they will think it’s okay. If you and your children do not spend money wisely, it may cause problems for you in the future.

allow mistakes

There are many ways to make children understand the value of money, but in the process you should also give them the opportunity to make some mistakes. From this the child will learn and he/she will understand what he/she should not do. This is also an effective way to explain the importance of money.

Pocket money when?

Give your child the responsibility of cleaning his/her room and tell him/her that you will give him/her pocket money only after completing it. This will make the child realize that money is earned through hard work and it is not right to spend it casually.

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Erica used to get only 20 rupees during her college days, spent her childhood in great difficulties.