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Anonymous

3d ago

∙

When did you start teaching your kids about money?

I’m thinking of letting them use an app/bank account (e.g OCBC). Anyone tried something similar?

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Wing

Edited 5h ago

teach them exchange of value since young.
when they start schooling, introduce the concept of money.
teach them savings & budgeting through piggy bank, allowance, providing value (house chores) in exchange for more pocket money etc.
when they have some savings, teach time value of money through investing

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Xuan Hong Lim

1d ago

I agree for kids to receive pocket money physically in cash, to learn and feel the concept of money.

We also have an incentive system to reward good behaviour eg chores.

Keen to hear how parents here encourage saving rather than kids spending pocket money straight away?

🎉 Encourage Xuan Hong Lim by liking their first comment!

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1M45

Edited 3d ago

Once kids receive pocket money, giving it in physical cash is better.
They need to see and feel ...

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