RESEARCH shows that it is not the media and not your child’s peers, but you, their parents, who most heavily influence how kids think about money as they grow up.Last week, we talked about tips & tricks about how to teach kids about money matters while this week is aimed at slightly older kids.Give your kids their own bank account and later also their own trading account. through chores in the household for which they are paid.Use the app store on your or their phone to teach them about digital transactions. Show them how digital gold coins in a game can become real, after they have been bought with a credit card, and are ultimately deducted from your savings account.Start a really small business. Make them understand a currency is not more valuable just because it has more zeroes on the banknote. In the end, kids copy their parents, for better or worse!

Source: The Star January 28, 2017 22:52 UTC