I didn’t had the chance to learn more about money and saving when I was a kid. Had I, I would’ve developed an appetite to like managing my finances early on. So I mindfully made sure my kids & I openly discuss about the tedious and oftentimes taboo topic of money & finance. Don’t get me wrong, I haven’t exposed them yet to balance sheets and the like–since I myself am still getting the hang of it. It’s more of telling them how money really doesn’t grow on trees and that they must work or at the very least put an effort so they can earn. Slowly, they’re getting the idea that having money doesn’t equate to purchasing something every time. That there’s such a thing as putting it away or letting the bank handle it so that it can grow over time.
More than anything this idea is something I want them to learn early on so that eventually it can be their mindset when it comes to money. That there are so many things they can do with money–aside from buying something they want right away. They can use it to travel or go to places they want, put it in the bank and even invest it.
Thankfully, Better Me hosted a Smart Kiddie Saver Camp in partnership with Security Bank. Lil’ Ms. JG together with a handful of Kids Know It kids attended a morning of fun activities all while learning about managing money, in the most practical yet fun way. Watch the video on what happened during the Better Me x Security Bank Smart Kiddie Saver Camp
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Shortly after the activities, here are the kids talking about what they learned about money.
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While the kids were busy doing the Smart Saver Kiddie Camp, the moms were busy listening to Rose Fausto about managing our finances. You can read some of the financial tips Rose discussed HERE. As for us moms, here’s what we picked up from the morning talk with Rose.
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I used to focus on saving and investing for myself but when I learned that I can start this early on with my kids, it gave me a fresh perspective on how they can start managing their finances (even though I still handle it for them for now) early on. I started by opening my kids a Junior Account of their own. You can learn more about it HERE. Now all they money they get for their birthdays, we plan on putting on their account so they can decide what to do with it later on.
If you wanna start teaching your kids about money & saving at home, you can let him or her create his or her own save, spend, and share jars.
You can follow the step by step procedure on how to do it HERE. According to Rose, there’s no better time to teach our kids about money and finances than after a few days when they’re born. Yes, that early! Once they have a birth certificate already you can immediately open them a bank account in trust form which eventually you can turn over to them when they’re 7 years old. This way, whatever money they get from godparents or from you, they get to manage in the future. Not only does this teach them about finances, this also teaches them responsibility.
Thank you Better Me PH for organizing this event. It was such a fun way for kids and also moms to learn money management. Do visit the website as my Better Me fellow moms & I contribute practical tips on kids, motherhood and self.