I recall clearly last year I was In a conference and the speaker said a whole lot but what really got to me was when he said " We spend on the daily Basis" whether you have cash or not....
Now I wasn't looking at it from these perspective, that I only spend when I have money, ...then he said when you pay your rent you actually spend that rent per night or as long as you live in that house, And so this later on shades the light on my spending habit.
Most times we neglect those little amount spent on minor things cause we feel they don't have any huge impact on us, basically it's like you spent close to nothing.
But what we fail to realize is that those little amount spent over time amount to a very huge sum when summed up together, until we come to these fact we might not actually have a full control over our savings
SAVINGS AS A DISCIPLINARY TOOL
Savings can actually be adopted as a disciplinary tool to cut short spending habit and place it under control, cause you see that little cent can add up to become so much. Until you come to the place of placing your spending under serious budgetary constraints you may never see the need to save no matter how little they seem....
As PARENT TEACHING OUR KIDS TO GROW UP WITH A SAVING HABIT
These can be one of the greatest gift you'd give to your kids, teaching them the value of money, the concept of earning, and understanding the value of money by working for it and creating the portion to save and not to spend everything, kids that grow up with this understand of how money works actually become better in managing money,
I know it's in our person to give our kids whatever they need buy them toys, nice cloths, gadgets but same time you can create a personal savings account for them, which they can get access to once they attend a certain age...say 18 or 20
In my local church here there is a new norm that is fast becoming and that is the habit of opening a kids account to that baby during dedication and everyone contribut to that course,
My Boss also did something shocking he told me one day that from the day his daughter was born till she turns 18he had made a commitment to Opening an account for her and depositing a thousand naira everyday till she turns 18years, now imagine how rich that girl will be by 18....so if parent have this awareness to liberate their kids and give them a leverage to stand on an grow, consciously lecturing them on finance and wisdom of how money and the economy works then I am definitely sure the dependency ratio especially in AFRICAN countries will so much reduce cause right now you still have a grown up man of 30yeara still leaving with his parent.
What actually promoted my writing about this is just recently my Director once addressed us and he said that in his house he calls for a kind of family meeting and he tells them how much they spend, how much bill is on going and how to manage every resources they have, as if that's not enough his two daughters are currently working in his company and he pays them salary as his employees....
THE BEST LESSONS LEARNT
is that with the current economy down turn in the world especially in Nigeria were our local currency has taken a nose dive it is very necessary we built this habit personally and to our kids to stay afloat of whatever is coming ....
Thanks for coming thru and not backing out...
Much APPRECIATED 💯✌️💞
There are expenses that sometimes we must save ourselves that are not even necessary. Therefore, we must be disciplined and good managers of our finances and teach our little ones. I like reading your content.
Health
Wow, this is amazing to hear, thanks a lot, trust me it's a motivation to do more....
GRACIAS 💯🥂
Oh yes, you're right that teaching our kids how to save is one of the best thing that we have taught to them. We are teaching our son to save by letting him put some coins to.his piggy bank.
Thanks for sharing this @eminentsam48
Thanks a lot ...I really appreciate,..you found it worthy.
The economic situation in many countries has forced families to have a different way of managing money, so incorporating savings habits in children is a wise decision, which I applaud.
Best regards
That for sure...thanks for dropping by I appreciate you
It is important to teach our children the importance of saving and to encourage this practice at home with piggy banks where they can keep coins, a very important topic that we should apply at home.
Greetings!
It's is very very important that we teach them till it becomes a habit
Thanks a lot coming around
Appreciate you