Investing for kids is a topic that has great importance; not only for the child but the parent as well. What we learned about money growing up can be a telling sign of how we use, manage, and spend our money. Many parents want to teach their children about the importance of investing and saving. Most kids when they get to a certain age begin to realize that money can buy them things that they want so they then become eager to learn ways of earning money and how to save so they can invest in something that they want. This can be a very important time for a parent to really teach the values of money and instill proper ways of spending it to a child and make it a valuable and useful life lesson.
Starting a weekly allowance can be a very important lesson for your child to learn while growing up. Either by just giving them a weekly allowance or setting chores (which is just work) for them to complete before they can receive their allowance. This allows them to see the value in money and also gives them something that they worked for or earned. Having now earned that money gives them the freedom to go about how they plan on spending and using that money. But once that money is all gone then they will have to start the process all over again of making more if they want something else. So teaching a child to save up for a nice bicycle instead of spending it on candy can be a very important lesson. It might even be wise to tell a child that a certain amount of their allowance must be put away and saved, and the rest they can use to buy candy, toys, etc.
By making your child work on a budget even though maybe they don’t really understanding all of what a budget is; you are teaching them fundamental lessons for later on in life. When your child reaches an old enough age it may even be wise to open up a bank account for them. A bank account gives them a place to store and save their money for the future, and most savings accounts do have an interest that is earned on top of that. Telling kids how to invest is one thing, but showing them how to and what to do is another thing. Giving your child a head start at an early age is never a bad thing. It must be noted though that most kids younger than 6 will not understand the value in money, nor should they. The goal is to give your kids lessons on being responsible, accountable, and able to manage their own lives.
Most kids love to play games don’t they? Well why not have them play a game that is geared towards investing and making money. It takes all the seriousness out of, and allows them to have fun with a game. There are a ton of games online to choose from you just need to go online and figure out which one is appropriate for your child.
The most important thing to do is to make it fun. Beyond all else kids just want to have fun, living carefree, and without any worries. They should too, and if you can give them lessons that will carry over into adulthood then, not only will they be successful, but they will also be just a big responsible kid living carefree and having fun. Which is all what we want to do right? Having fun, being carefree, and worry free just like we were when we were kids is the ultimate goal. So why not help your child achieve that.