Teach Your Kids About Money

1. Give Kids a glass Jar: If it is a normal jar they will not notice daily growth of money. Through glass jar he can see how much is filled how much is left. So he/she start saving more. 
2. Open Bank Account: Give the responsibility of maintaining bank account. Open a bank account on children name and teach them savings and how interest grows month by month. 
3. Teach Compound Interest: Teach about how power of compounding works. Added to that; Show how much savings/investments you doing for their education. (Your Bank Account; Mutual  Fund DMAT Accounts..etc), They will understand your hardwork behind it. 
4. Teach Bargaining: when you go out for vegetables or when you go for shopping show how bargaining works. Negotiation is one of the important skill. 
5. Teach Book Reading:  Make it a habit to read books related to money & personality development. Books show another dimension of life. 
6. Pocket Money Practice: Give the same amount (Ex: Rs.1000, Rs.2000) as a monthly pocket money and ask how much they saving each month.
7. Spending Money from Pocket Money: Whenever you need to buy something for kids, Instead of you spending it from your pocket; Ask them to give money from their pocket. They will experience the pain of losing money.
8. Teach Controlling Self: When its a need to buy two things( Ex: New dress and New shoes) buy one now and ask them to wait for a month for second one. They learn controlling self. 
9. Dont Give Free: Instead of giving pocket money for free; Give it as like commissions. For getting good marks this much amount, For cleaning own room this much amount…etc. 
10. Stress Importance of giving: In general if we go to temple, We ask kids to donate money. Parallel to that explain why the beggars are in that condition. How to help them more..etc.