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Money is never extra. Money may be earned though several sources but it is of no use unless saved. Even if you get a huge amount transferred to your bank account every month, it will not be sufficient for you unless you learn to curtail your expenses and save for the future. As we all know, future is one of the most uncertain things. There is a lot of planning required to secure it. This planning and curtailment must be done by every member of the family, including your kids.
Children are certainly a part of your family and need to realize the importance of money. Since their childhood days, they must be taught the value of money and how to make small savings. The essence of saving money must be inculcated in their early childhood days, for a bright future. While teaching your children to save money, you do not have to pester them about the amount being spent on them and their needs. Teach them to value what they get. Your child should know what it costs to enjoy his indulgences so that he can choose them wisely.
Try giving your child small amounts of weekly or monthly pocket money. Ask them to save this money and show them the big picture behind savings. Tell them that they can purchase what they like on certain occasions and festivals with this saved amount. If there is an upcoming fair or shopping festival, tempt them to save money for it. If your child has a sibling, it is important that you give money to both of them depending on their needs and expenses. Try setting a healthy competition by making spending and saving charts on the walls of their room. Award them if they have been able to save quite some amount. It can really help.
