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The 7 mistakes made by parents when they pay their children

The 7 mistakes made by parents when they pay their children


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The payment is a good resource for children to learn to manage their expenses, save and be responsible with money management. Pay, when applied well, can be an incentive and motivation for children. However, the financial educator Reinaldo Domingos reveals the seven main mistakes parents make when they pay their children, in his latest book "Pay is not only money."

It is recommended that children begin receive pay between 8 and 10 years, since at that age the child can already understand the value of certain amounts of money. On the other hand, parents should be careful not to make those 7 mistakes:

1. Imbalance

The child should not keep all his money. You need to set aside 50 percent of what you earn for your daily consumption. Parents must give him the right to buy something that the child wants, without it being overeating. As incredible as it may seem, a rigid discipline that parents impose at home, can turn their children into obsessive children with money. In the future they may become greedy people.

2. Loan

Parents cannot, in any way, use the money that the child tries to save as a loan. This recommendation may seem absurd, but there are many cases where parents or guardians take something from the child's piggy bank, or take some amount of money from their savings book to pay for household expenses or even for private use.

3. Breakage

Parents should never skip the steps of their child's effort and growth. They should never buy the object the child dreams of before he can raise the money to purchase it. This will cause the child to record that example for the rest of his life. The idea is to make him fight to conquer what he wants.

4. The permit

Learn to say no, for the good of the child. When pay is implemented, it is common for children to spend all the money before the month ends. Remember that they are learning and they will surely ask for more money when it runs out. This is a good opportunity for them to learn the consequences of their actions.

5. No limits

The pay cannot be used as a reward or as a punishment. There are parents who, on impulse, decide not to pay for a period of time for bad behavior or bad grades from children. Or, give the pay because the son did some domestic activity. The payment must be respected and never be converted into currency or "negotiation" between parents and children.

6. Remuneration

The pay is not a salary. Salaries are paid to those who work and the child cannot and must not work. This is one of the concepts that should never be ignored so that everything is very clear. The salary is a salary, pay is pay.

7. Withholding

Adults should teach their children from the start that everything we buy should come with the bill, from a chocolate bar to a bicycle. So don't set a bad example for your children, negotiating a purchase invoice to get a discount.

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Video: 7 Mistakes Every Parent Should Avoid (June 2022).