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At what age to allow your child to use a credit card?

Shkolazhizni.ru :.: Article 11.07.2019 at 21:00

Shkolazhizni.ru :.: Article

We live in a world where money plays a big role. In this article we will talk about how to introduce their children to the world of Finance, so they can live in prosperity and never needed it. Progress in technology (or rather runs) at an accelerated pace for several years of cash "move" on a credit card, and then completely lost its material embodiment. The world of virtual payments have become for us familiar and commonplace. And in this world the important place occupied by our children who in the future will have to change your post and Steve jobs, and Warren Buffett. Familiarizing the younger generation to the operations Finance should be a mandatory part of everyday child rearing. Most parents think that Bank cards children should begin to use only after 14 years. However, experts on personal Finance are sure to teach children to use the cards you need to start much earlier — from 7-8 years. Rich not the one who spends a lot of money, but someone who knows how to "make friends" with their danamite: Depositphotos Important! The child first needs to obtain a basic knowledge about what is money, and learn to use them properly.Otherwise, the early transition to credit cards, money will be perceived as an abstraction (empty wrappers). So, what gives early exposure to Bank cards: 1. The child already "from childhood" learning in an adult conscious handling of money (mastered the basics of financial literacy). 2. It is possible on your own experience to learn to "count money", including to compare your expenses and income to make savings from pocket money, to accumulate the amount for the desired purchase. 3. Daily practice in handling the money develops mental abilities of a child much better mental arithmetic. 4. The child develops self-esteem (belief in your strength and trust in oneself), because now it's "like an adult". Photo: Depositphotos a note to Parents: 1. Spoken out loud the essence of all your committed transactions with Bank cards. Your child hears and remembers — after all, kids learn the world around them, copying the actions of adults. 2. Explain how a cash machine where there money come from and how they enter the map. Tell us about this "secret" thing as confidentiality. 3. Control the use of your child credit card: place limits on transactions, follow the transactions through SMS alerts. 4. At the beginning of each month plan for family expenditures (select child a certain amount and help it to properly allocate). How to make your child rich? Rich not the one who spends a lot of money, but someone who knows how to "make friends" with their money (who are always "in the money" and well knows how to multiply). To learn it is much easier than it might seem at first glance (to learn and to teach it to his household). To do this: to Teach children to use the cards you need to start 7 years−8Foto: Depositphotos 1. Raise your level. Knowledge and skills qualifications and skills in your chosen profession, you must carefully "grow" all their resources, which bring you income. 2. Pay yourself first and then others. Discipline yourself to set aside part of your income: start a piggy Bank for himself and one for the child. Show him on his personal example that the money should work (and not spend every last penny). 3. Invest with your child. Regularly buy currency, shares, precious metals and other financial instruments. These three steps will allow your child to gradually form a sound financial capital and, when he grows up, to live entirely on the income from it. To consolidate the material let's see the next video: ...

This article describe tags: child education, financial literacy, Bank cards, pocket money