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Even before your child understands how money they work, we can start receiving the attitudes and feelings of the finance, which can have a sustainable impact. But avoidance Talking with money with your children It could be completely detrimental to future economic success.
“Deep deeply, most people think that money is bad that they need to protect children (it)” Ramit SethiAuthor of self-made millions and new book “Money for couples“CNBC tells.
“You don’t protect the kids from bike ride. You don’t protect your child from trying a tomato. Then why would you hide something much more important than one of these examples?” He says.
When you talk with money with your children, “Horrible phrase” Sethi would ban “from home” “” We can’t afford it. “Here’s why.
“It’s not a good thing”
Sethi has spoken by many individuals who talked about his “money money” when they were growing from parents.
“And they really thought,” says Sethi. “So when they have a good job and do good money 30 years later, they feel shortage about money.”
Positive relationship with money has nothing to do with How much money do you haveSethi says. Teaching your child can do this phrase inadvertently spending money through the line of money, even if they can also technically want to pay things.
Instead of saying that you can’t afford something, it suggests the rules and culture that you set within your family to explain your decision. He could say, “In our family, we choose to spend money on healthy food with butter with crispy,” he said.
Otherwise, “Everything should not be a mass explanation,” he said. You may need a child who does not require a toy in the store, but your kids should not understand that you should not spend money in every thing you want to buy intelligent. .
“It’s not a good thing,” he said. “I didn’t say it, and sometimes it’s not all you have to say.”
Help your kids relate to money
In addition to talking about money, Sethi encourages family to participate with children with economic projects.
See the let’s pay the bills or click on the “Pay” button. Try how much electric bill is or how expensive your income is. Instead, find out that your child is playing this money on the roof and electricity video games.
“Adolescents, (they can) help to plan a full family trip or buy a family car,” Selfi says. “This is how they start learning taxes and trade. That’s how you supply them in the real world.”
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