Top 3 Life Experiences Your Children Should Have Before They Turn 10

April 12th, 2017

Children are like sponges; they will absorb whatever you expose them to. And boy, do they learn fast! Yes, we all want our kids to be successful adults someday but in this race to be ‘someone’, let’s not forget to teach them to be humans with a huge and open heart. Enabling them to have some amazing life experiences at a young age will do just that. Here are a few: 1. Realising the value of money and saving You might want to give all the luxuries you can to your little ones but while doing so, do not forget to make them realise the value of money. Help them understand that money does not come easy and must be spent only after putting some thought behind it.  How: Open a bank account – Kids are becoming financially literate early these days. You can encourage your children to be so too by opening a bank account in their name and helping them deposit the money they receive on special occasions such as Chinese New Year or their birthday(s). Banks such as OCBC have special programmes such as Mighty Savers to teach kids the benefits of saving. POSB offers free gifts such as a coin bank set and a bookstore membership when you open your child’s account with them! Limit their spending – Decide a specific amount for their monthly pocket money and observe how they use it sparingly. Strike a deal – If they save S$10 in a month, tell them you will add S$10 and deposit the amount in their bank account. You can also offer them a little treat such as a trip to their favourite ice cream parlour if they save their pocket money. Professional support – There are many institutes such as MoneyTree which aim to […]

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