Financial Education for Children – Teaching Money Management Skills
Isn’t it an irony that we teach our children to read and write but disregard the importance of a financial education for them? Isn’t imparting and teaching money management skills and knowledge to our children just as important for them to be ready to face the reality of the real world we live in?
Due to the ease of obtaining credit cards these days, there are now more reports of youths in their twenties and early thirties in position of debts than ever before. It is due to such a scenario that it is imperative that children of today are taught to be financially literate with the right money management skills.
The following steps could be taken to educate your children on basic money management:-
1. Start off by setting up a savings account for them. Give them an allowance, an amount slightly more than their daily estimated expenditure so that they put into their piggy bank that little extra daily. Explain to them that they should put aside say perhaps 10 to 20% of the allowance given. Set them a target to open an account in the nearby bank and later a target monthly savings. Even if that little amount is just ten cent per day, you will be surprise how quickly their savings will grow. The children themselves will be pleasantly surprised. Reward them if they meet their monthly target. This way, good saving habits can be inculcated into them early in life.
2. Introduce them to the Monopoly and other cash flow games that are available in the market. These games are a good way to educate them on the basic principles of budgeting and the understanding of incomes and expenditures for purchases.
3. Encourage them to take up part time jobs during their school break to earn some income and extra pocket money.
There are many books written to guide and assist you on a financial education for your children but since this subject is not a syllabus in the most school curriculum, it will be up to you to take the necessary initiatives in teaching the necessary money management skills to them to pave the way for them to gain financial independence early in life.
Play for Children with Autism
Most of us have limited time to spend looking for the kinds of toys and activities that will help to develop the children in our care. When my second son was diagnosed with autism, I spent a lot of time looking for suitable toys for children with autism. I was looking for activities to entertain him and stimulate his development in particular his play and interactive skills but it was really hard to find them.
I worked hard and built up my collection of toys for autistic children and activities and my knowledge of how to employ them. I soon realised that I was not alone in finding it difficult and that other parents of autistic children would also benefit from a one-stop parent friendly shop or catalogue to get both advice and resources to help their children develop their language and play skills. This led to the launch of sensetoys.com a website packed with products and ideas for parents and carers of all young children but especially those with special educational needs.
The range of products includes thick wooden jigsaw puzzles with large chunky pieces and simple non-stylised pictures, lovely fabric shaped beanie bags to teach shapes and colours in a fun and tactile way, large chunky tactile shapes with big holes to encourage threading activities, cause and effect toys such as the wooden Jumping Shapes game, the Waggy Garden with its slanted posting panel so a child can see the shaped holes more easily and of course lots of tactile sensory balls such as the squirmy wormy ball.
Sensetoys helps parents find and choose which toys they need, explains how to use them and why they can work so that parents and children get the most from each product. So if you’re looking for help to get started, visit www.sensetoys.com.
Lesley established SenseToys after many fruitless searches for toys and activities to help with the special needs of her two sons her eldest suffered a language delay through glue ear and her second son Edward has an autistic spectrum disorder (ASD).
As a parent, the early stages of learning about and coming to terms with even the mildest of special needs are extremely difficult and stressful times. One of the greatest frustrations is identifying practical ways to help your child whilst climbing a very steep learning curve in terms of understanding the problem, including learning about whole new areas of health and education provision which most parents never encounter, there is the overwhelming desire to want to be able to do something practical.