27 Life skills that parents should teach their children, part V


(16) Savings.
(a) Teach the child to live within his means instead of living on borrowed money;
(b) put aside a little of the income into a saving account;
(c) plan well for any big purchase, e.g. if a child wants to buy an expensive item, teach him to set a saving goal, say $10 per week, and wait till he has saved enough for the purchase.

(17) Learn to budget.
(18) Expense. Teach your child how to pay bill.
(19) Investment.

(20) Thrify.
(a) Before making a purchase, always compare at least two stores the quality and price of the goods;
(b) Avoid waste of any forms;
(c) Avoid impulsive shopping;
(d) Eat home cooked meals whenever possible
(e) Avoid shopping sprees, especially during holiday season

(21) Debts. Teach your child the responsibility of a loan, how to avoid getting into unnecessary debts or getting deeply in debts. Learn how to use credit card.

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