Recommendations for parents

Recommendations for parents

       1. Basic rules of financial literacy for children
ü   Personal example - children copy their parents' behaviour.
ü  Pocket money - teaching how to manage a budget.
ü  Planning spending - the difference between wants and needs.
ü  Savings - the importance of saving.
ü  Security - protection from scammers.

2. How to teach your child to save money?
Ø  Start a piggy bank (physical or bank account).
Ø  Divide money into 3 parts: savings, expenses, charity.
Ø  Explain the principle of saving - 10-20% of all income.

3. Financial security for children
û  Never give card details to strangers.
û  Don't click on suspicious links.
û  Check purchases before paying.