My Best Money Saving Parenting Advice

by Sangeeta Chaubal
(India)

One can save money only if he intends to. People, many times, plan to save money, but most of the time, they just end up planning.

Planning is important, no doubt, but implementing on those plans is a must. It is all about what we do, and what we teach our kids.

If parents can't save money, then the kids definitely won't. I know a lot of people, who spend more than they can really afford. Many people want to look good in front of others, like their neighbors, friends and family.

In such cases, these people hide their financial crisis and wear a false mask on their faces. To prove themselves better than the rest; they take loans and then their whole life goes in loan repayments and what comes next is 0% savings for kids.

Their life is far away from reality and there is no future security for their children. To avoid such situations, one needs to learn the importance of saving money and teach their kids the same.

Here are few tips that I would like to give all the parents, in order to ensure a better future as well as good moral values for their kids:

1. Try and avoid taking loans. Instead learn living life creatively and happily by accepting the current financial situation.

2. Be a good role model for your kid. Kids tend to learn from their parents and hence imbibe good values in them.

3. Teach kids the importance of money. They need to realize that it is your hard earned money and can't be spent just like that.

4. Teach your kids to save money in piggy banks. This way they will learn to save money, right from their childhood.

5. Don't pamper your kids with lots of gifts. However, occasional boost by giving a present as a token of appreciation is a must.

6. Try and buy clothes from factory sales outlets. This way one can get good brands in very cheap rates.

7 Don't let your kids order a lot of junk food from outside. Instead cook them their favorite food at home. This way you will save a lot of money as well as get to provide some healthy options for your kids.

8. Plan and invest in good insurance options for you as well as your kids. Secure their future.

Always remember any amount of money saved some or the other way is important. All these tips are tried and tested and believe me guys, they are small and simple, yet beneficial in a long run!