So that in adult life the child does not constantly borrow from you, it is worth accustoming him from an early age to a careful attitude to money. What financial rules should be taught to children, economist Olga Churilova said.

Goodbye poverty: how to aim a child for success and wealth

3 rules for financial parenting

1. Lead by example and talk about money in a positive way

Some parents don't think about how their conversations at home affect their child's relationship with money. If mom or dad keeps repeating, “I have to save money to last the month,” or “I only go to work because of the paycheck,” your baby may develop a negative perception of money. In the future, it will certainly affect the material well-being and success of a person.

Try to voice only positive things with children: “I am happy when I receive a salary on a card” or “I like to earn money, I enjoy going to work.” Agree with adults in the household that you will not discuss money problems in front of the child.

It's different when it comes to budgeting. Be sure to involve the children in this process. Teach financial literacy by your own example, showing how to properly allocate funds and use them rationally. To arouse your child's interest in this topic, you can offer several books or videos. But do not impose: everything should be in moderation. It is better to demonstrate in practice that your words do not differ from deeds.

2. Talk to your child about finances in plain language

Each age has its own themes and language. So, a kid of 5-6 years old will not understand what a loan or a salary is. And in a conversation with a teenager of 13-14 years old, you can already use such terms as stocks and  investments . The same topic can be explained according to the child's level of knowledge. For example, a conversation about investment with a 6-7 year old kid might look like this:

Do you know that your favorite Donald Duck cartoon was drawn by Walt Disney Studios? This is a huge company, and you can become the owner of a small part of it. Imagine: you watch cartoons and at the same time own the company that produces them!

Of course, it will be difficult for the baby to understand how this happens, but he will definitely like the idea. The main thing is to interest the child in financial literacy.

If you are talking to a teenager, you can tell that his favorite actor or musician is a shareholder of the company. It will be interesting for a child to dive into this topic and learn how to acquire a part of a large enterprise.

When visiting banks, insurance companies, take your children with you. Do not be afraid that they will be bored or uninterested. On the contrary, the baby will have an additional opportunity to get in touch with the world of finance and understand how such institutions are arranged, what they are for, and how they are useful to a person.

3. Give your child pocket money

Contact with the world of finance begins with the ability to use pocket funds. Give money to the kid for personal expenses from 6-7 years old. At first it will be small amounts. The child can dispose of them at his own discretion: save for a major purchase, purchase toys or sweets, spend everything at once, or spread over a long period.

At 9-12 years old, it is permissible to issue larger amounts once a week, at 13-18 years old - once a month. Since you are an example for your children in the world of money, talk to your child about your expenses taking into account his age, negotiate the conditions and rules: how much, how often and why you will provide him with cash.

There are two important nuances in pocket money:

  • Always specify where the child spent them, but without accusations and torture. Ask questions, find out goals and desires, look for solutions together through planning. This is how you build trust and the beginnings of financial literacy.
  • If you spent the entire amount ahead of time, do not give more! No one transfers your salary again if you lost everything in a week.
With older children, in case of requests to give larger amounts “in your pocket”, try to lend at interest. This is a kind of credit simulator.So the teenager will understand that debt does not lead to anything good. But planning and savings lead to material well-being and confidence in the future.

Financial literacy is one of the conditions for success in adulthood. Teach this to your children, remembering to reinforce advice and instructions by personal example.