Today we want to give you ways to teach children about Money and Possessions

1. Talk together as parents about what sort of values regarding money and possessions you want your children to grow up with – they may be very different from those of your own childhood.
2. Talk to your children about brands and the power of advertising, which can make them want things they don’t need.
3. Think about peer pressure – on you as well as on them – to have the latest fashion item, gadget or expensive holiday.
4. Teach your children wise attitudes towards money and possessions. More is not necessarily better.
5. Where possible, involve children in your consumer decisions, and listen to their input.
6. Give them pocket money/an allowance and encourage them to divide it between saving, spending on themselves and giving away to others in greater need.
7. Discourage impulse buying; help them to plan ahead.
8. Help them to become responsible with money. If their allowance is for buying clothes, make sure you do not end up buying the clothes yourself because they have spent it on other things. Resist adding to their allowance on demand.
9. Be as positive as you can about how they have chosen to use their own money.
10. Talk to them about the consequences of getting into debt.
11. Encourage them to appreciate and take care of their possessions.

Hoping these tips will help you in your parenting. Look forward to more useful stuff on this topic in the coming weeks.