There is a famous quote by Benjamin Franklin “A penny saved is a penny earned”. That is one of the most basic lessons that one should teach one’s children as a father. Parents wish to correct their mistakes through their children, so that they do not face the same issues when they are at a juncture where they are supposed to make important decisions. If a child learns how to spend smartly the limited resources he has, it will lead to a future with not only wise spending but large savings for a secure life.
Therefore, it is necessary that as a father we implement daily practices in our children’s life so that they are smart enough to plan their finances in the future. Here are some tips for parents of budding children to teach their kids financial planning: