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Financial education is very important for children nowadays. By inculcating sound money habits early, children will lead to a path of financial success.
Teaching kids how to manage their pocket money is discipline. Allocating funds for saving and spending wisely is the key to budgeting.
Children should know the types of taxes, its basic calculation and how taxes impact day to day lives fostering a sense of civic responsibility in them.
Teach kids to spend wisely by identifying misleading deals and online scams. Differentiate needs from wants and question offers that seem too good to be true.
An emergency fund is like an umbrella, you use it when you need it. Saving small amounts regularly for unexpected expenses and build their emergency fund.
Highlight the benefits of starting to invest early. Explain how money can grow over time through interest and investments, using simple charts or stories to demonstrate the magic of compounding.
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