Developing good money habits is important. If you are a mom or dad with children in the home, developing money habits that are healthy is a great way to get them started with a healthy relationship with money. Children are delicate creatures, if they see mommy handing out bucket loads of cash for a pair of shoes, they want to do the same thing.
To teach good money habits to your child and yourself, set aside a fund specifically for shopping. It’s as simple as placing a glass jar on your kitchen table, and dropping in loose change or single dollar bills that you aren’t using in your wallet. In time, you will notice that the jar is full, and you have a healthy amount of money to splurge on fun items. Explain to your children what the jar is for, and why you use it.
Once they see you practicing such healthy money habits, they will adapt to the same style when they are older. Another great tip for developing good financial habit’s, is to buy in bulk. Most warehouses are actually cheaper than a grocery store. You get more bang for your buck, and more food and household needs for your family.
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