The art of earning, saving and spending is essential

The art of earning, saving and spending is essential


"He who does not know how to save, he does not know how to live".


We learn how to make the child good, successful and efficient. We give education for that. But we are not talking about money.



We do not talk about household affairs, nor about financial planning. Children should be taught about financial management after they have some knowledge. The importance of money should be made aware.


The four essential arts


How important is money in life? They should be informed about this. Money is not everything. However, money is needed to fulfill many needs of life. Then how to earn money? Along with this question, it is important to explain three other things.


Four things are important when it comes to money.


One, the art of income.


Two, the art of saving.


Three, the art of investment.


Four, the art of spending.


Your labor, conscience, hard work are the main source of earning money. Money should be earned honestly from any work, profession, business. For this, you have to invest at the right time, in the right way, in the right place. The art of saving is also necessary for investing money. How to save money? How to avoid wasteful spending? You should know this.


Children cannot earn income by working for adults. However, they can earn income by selling copies of their old books, by selling the paintings they have made, by selling the flowers they have planted. From these simple things, they understand the importance of money and labor.


Similarly, how to keep the pocket expenses they get? What to spend on? It is important to make people aware of what precautions should be taken while spending.


What's wrong


To teach children the art of saving, they should buy a bag and bring it home. It should be taught that at least 10 percent of the income should be saved. If you can save just 100 rupees per day by cutting some unnecessary expenses, you will accumulate about 10 lakh rupees by the age of 25 years. Therefore, first of all, the child should be taught to save.


Another thing is that the child should be taught how to earn. The child should be taught the art of selling and speaking. You have to learn how to sell something and how to speak. For income, the importance of money should be explained first. If a child is taught to sell and speak from an early age, he can survive in any corner of the world.


Investment should be made in education to make the child earnable. Therefore, in the current digital age, the child should also be given knowledge about digitization to make him a habit of reading books outside the curriculum.


Investing in children's learning


Children between the ages of 16 and 20 should be invested in their education. They can later earn from the investment in education.


The difference between savings and investment is that there is zero risk in saving and there is risk in investment, so investment should be taught slowly.


Expenditure is more important than income and investment. Therefore, children should be taught how to spend and what to spend on.


Less expenses, more income


So far we have been doing everything to show others. He went to school to show off, he got married to show off, he bought some new stuff just to show off. So we spend a lot to show it. Income should be at least three times more than the expenses of any person.


If the expenses are more than the income, he can never save. There is no source of income for 15-16 year old children. But if he has to wear 10,000 shoes, ride a bike and use an iPhone, he should be taught that it is a wasteful expenditure. If his every desire is fulfilled, he will not understand the importance of money. Therefore, the child must be taught how to spend, how to earn, how to save and how to invest.


Teaching to spend according to financial situation


Children can be taught to spend by giving them pocket money. Money given to children should be allowed to be spent as they wish. But they should be reminded about money from time to time. If children spend money before time, they should not be given extra money. By doing this, they can spend as they like.


Explain about cost management


Adolescent children should be told about money and savings and let them spend money. You should be able to explain the importance of money by allowing you to spend it according to your needs. If the money given is less, he should be asked to reduce his expenses.


give responsibility


Adolescent children should be given work that they can do without the help of others. They should be taught to shoulder the responsibility of housework. Children can be made responsible and practical by giving jobs like electricity, drinking water, house maintenance tax and vehicle tax. He should be encouraged to be responsible for his household behavior.


Allow saving for goals


Children should be taught to save for higher education and practical expenses according to their wishes. He should be told about the impact that money can have on his household and education. After starting work, they should be inspired to save for their goals and objectives.


Set deadlines for insurance


When children take a loan for something, they should be told about it. The process and timing of payment of interest for car insurance, health insurance, etc. should be agreed upon.


Do not buy property in the name of children

When the children start working, there is no need to buy property for them. By doing this, they depend on their parents. They should be encouraged to do their own work like loans and insurance. Don't mix your financial problems with children's problems.


Do not run the household of children


Children went to the city to study, all their needs are not met in time. By doing this he may not know the meaning of money. Children should be allowed to feel the lack. Which inspires him to work and earn.


He should be taught to earn his own money and manage his household. By doing this, besides increasing the responsibility in the children, they are able to work and manage the household by themselves.

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