According to psychologists, children who have the habit of saving from the beginning follow this even later. Also, as they grow up, they understand the power of savings. Saving in this way not only saves money but also develops the personality of the children.
Explain the difference between essential and luxury
Many times we get busy in fulfilling every demand of our children. But it is not right every time. This makes his habit bad. Fulfill his only demand, which is needed the most at that time. For this, explain to him the difference between essential and luxury.
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give piggy bank on birthday
The habit of putting savings in it can be done from his birthday itself. For this, a cute piggy can be gifted to her. Not only will you keep this memorable gift, but you will also know its importance.
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open savings account
To inculcate the habit of saving, his savings account can also be opened. Accounts are opened for children in some banks. In some banks, the facility of opening an account for children is given. Under this, SBI has introduced two savings accounts for children. Their name is Pehla Kadam and Pehli Udaan. For this, the age of the child should be from a few months to 18 years. In this, banks also offer ATMs and checkbooks. Tell the children what will be the benefit of putting money in it.
Instant pocket money transfer
There are good features of this app. For example, through this instant pocket money transfer will happen, as well as this app also allows parents to keep a record of the expenses done by the children. Through the Junio app, parents can connect their children with facilities by giving them in-app daily tasks. The app also provides facilities like setting withdrawal limits for ATMs. Also allows parents to cancel the card at any time using the app.
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