INVESTMENT TRUTH # 3
We always teach our Children HOW to spend, because what ever they demand we oblige.
Are we teaching them HOW to save ??? 🤔
Avoid Giving your child everything he asks for.....else he will grow up believing that getting money is very easy and he has right to get everything he wants...
Moreover He will not be able to differentiate between NEEDS and WANTS.
Few Money Habits that you must Teach your Child -
1. Explain them the Difference between your needs and wants.
2. Include your Child in Money conversations. esp Expenses/savings.
Not EMI conversations but conversations on SAVINGS/ INVESTMENT
3. help them cultivate Saving Habits. ( RD / SIP) etc..
4. Get them a PIGGY BANK. This concept has been totally sidelined Now...
5. Be your Child's Financial Role Models.
This Children's Day on 14th Nov. 2021, start a long term SIP in your child's Name and give wings to their aspirations.
Happy Investing 🙂
Biswajit Roy
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