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Ways to Teach Child about Investments

Give them pocket money

Pocket money can be a good way to teach a child about saving. You can start giving you child a small about of money and let them spend it as per their needs. Having their own money can help them understand its value.

Board games can be educational

Board games, at least some board games can be handy in teaching children about money. Business oriented games or games dealing with money like Monopoly, Business, Life etc can teach kids a lot about investments and returns.

Involve them in your planning

It’s not easy and sometimes not necessary for parents to involve their children while discussing money. But when it comes to investments, endowment insurance and savings plans having your children as a part of the discussion can be a good thing. Involving them in your banking processes or having them go to the bank with you can teach them a lot too.

Accounts can be empowering

Banks today, have a lot of schemes and child investment plans. Children get special accounts and even debit cards for their accounts. Having a bank accounts, a child and having a working understanding of how it operates can be very helpful for children when they grow up.