Many consider investing to be a form of gambling. Therefore that is why they don’t think it is a good idea to teach their children. But that is not true. Making investments is something that can pay off in the future. Therefore you may be doing a service to your child by teaching them. But parents would think that they should wait until their children are adults to teach them. However, there is no need as such. Instead, you can teach children as young as pre-schoolers the basics of investing.
Give Them Pocket Money
You cannot expect your child to be the next hospitality trust Australia if they don’t have money. Thus, that is why it is recommended to give children pocket money. This way you can teach them that they can either save money or use it for instant gratification. For instance, if they use their weekly money at once they would be able to purchase a chocolate bar. But they if they save up then they would be able to purchase a video game or even a comic book. This way using examples they can understand you can begin to lay the foundation. At this stage, you don’t even have to explain the complex terms. Simply teach them ways to use the money that they are receiving on a weekly basis.
Teach Them To Invest
Many adults think that they should wait until they are stable financially to invest. Thus, that is why they delay investing in the hospitality reits in Australia. Therefore they would go on to teach the same principals to their children. But that is wrong because there is no age restriction as such. Instead, you can teach them investments using examples they can understand. For instance instead of giving them weekly pocket money you should ask them whether they want to invest. This way if they invest the money for one week they would get a specific interest. But if they invest for one month this interest would increase. This way you can again teach your child about investments. Furthermore, we understand that you may have investments of your own. Therefore instead thinking that your child is too young you can start talking to them about various companies. You can even take a stock in their name from a company they are familiar with. This way they too would be interested in the daily stock market values.
You may think that investing and fun does not belong in the same sentence. But you would not be able to teach your child about investing if you don’t make it fun. Thus, that is why you should strive to follow the tips mentioned above.