Sunday, 29 December 2013

SAVE FOR RAINY DAYS

Saving as an attitude is what children should imbibe at an early age. What does this mean? Keeping certain percentage of what they have now for future use or for investment. Although how to save money for future use is not taught in schools, yet as individuals we must make it a habit. Particularly, parents must see it as a duty to teach their children how to save money, the importance of saving and encouragement must be given.
I knew a man who always gave his child double of whatever the child saved at the end of every year. We don’t need to have millions before we can save; twenty, ten, even five naira from our feeding allowance can be set aside as saving every day. At the end of the year such amount can be used to buy learning materials, clothes or any other thing we feel like buying, with parental guidance.
It is better we teach the children money management at an early stage of their life because it is one aspect of life that needs to be taken seriously. Once this becomes part of them up to the age of twenty, it will surely be a ritual they must do throughout of their life. Saving will help the children reduce their appetite for buying what they don’t necessarily need at this stage of their life. Also when they save to buy little things that are useful to them now, when they grow up they will know how to save for bigger projects in their life with little or no pressure.
 
 

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