Give first earning to parents
Even if parents do not want to do this, but children should pay their first earnings in the hands of parents. This makes them feel proud of his/her child and the child is also happy to fulfill his/her dream.
Difference in need and desire
Even though the child has started earning money, he/she should tell the disadvantages of spending unnecessarily money. Explain to him/her what is the difference between need and desire. They should spend money on their needs or on what they want, this is their decision completely.
Get used to saving
For the first time, children earning money are free to spend money. They feel that they can spend as much as they want, no one will ask. But this is not the case. You children Saving money Have to teach to do. Tell them how and where you can invest money. If they are unable to do so, then teach them the habit of putting money in Gullak.
Advice to open a savings account
If your child does not know how to save money, then you can advise them to open a savings account in the bank. In this way, a good habit can be developed for saving money in children.
Work by making budget
Every child earning money should work by making a budget. From this, they will be able to understand what things to use their hard work and how much money to save for which items. This is a great way of money management.