How To Teach Kids About Saving Money

Most of us, at some point in our lives, have made some financial blunders. Because of this, we usually want to teach our kids to avoid our mistakes and be smart about finances. However, it can be difficult to teach kids about smart financial practices when they seem too young to really understand the value of a dollar. To help you raise kids who understand money and are smart about finances, follow these tips on how to teach kids the value of a dollar.

Teach Them About What Money Is From An Early Age

Just about every moment you spend with your kids has the potential to be an opportunity to educate them and shopping is no exception. When you shop with your kids, explain to them the concept of how much things cost and how much you’re paying for the items you’re purchasing. These little informal lessons will help your kids to understand the concept of money from a young age.

Make Saving Money Fun

Kids don’t get excited about saving money easily. To young kids, the pleasure of saving money is difficult to grasp, while the pleasure of spending money is obvious. Use tools that will make saving money fun, such as personalized piggy banks. You can also help them to save for an expensive item by teaching them how much money they will need to save each week in order to be able to buy the item in a few months.

Create A Smart Allowance System

Allowances are a great way to teach kids about the value of a dollar. However, allowances are only educational when your kids are receiving that money in exchange for chores or good grades. It’s essential that your kids learn that money is earned and not just received. If your kids skip their chores or receive bad grades, it’s important that you withhold their allowance, no matter how much they might complain or beg.

Raising financially smart kids is challenging, but if you follow these tips, you can train your kids to understand the importance of earning and saving money. Your kids will have happier lives financially if they are educated about money from a very young age.

Saving Money While Shopping

The Internet can be a great tool for those who are looking to save a little money on all of the things that they buy. If you are looking for shoes, a new grill or school supplies for your kids, you can find them online at a steep discount. This may be true even if you go to a retailer’s website as opposed to visiting a wholesale or outlet store website.

Another idea when trying to save money while shopping online is to use auction sites. Auction sites will put items up for bidding at prices that could be as much as 90 percent lower than retail. This may allow you to buy a big screen television for pennies on the dollar or buy a new computer that you otherwise may not have been able to afford.

Using sites such as BuyMerchant.com can provide you with more value for your dollar. When you are able to spend less on the things that you use each day, you can put more money into a savings account or into a college fund for your kids. Over time, you will revel in the fact that your financial future is more secure without having to give up th

Hundreds Of Doctors Earned Big Money From Drug Companies

I read one interesting article in ABCNews that I know is already happening worldwide. In the U.S., pharmaceutical companies paid out more than $250 million to some 17,000 doctors and nurses across the country in 2009 and 2010, according to a new database compiled and published by ProPublica, a non-profit investigative journalism group.

Does this mean doctors are on the take, prescribing medicines or treatments they might not otherwise recommend? Are doctors corrupted by the money? Not necessarily, said researchers — but it is complicated. Still, one thing is certain, the prices of drugs and medicines are expensive because a big chunk of it is used for doctors’ expenses like trips and all.

My friend did tell me about these things going on worldwide and that prices of medicines and drugs are very expensive because of that. Think of it as perks for being a doctor. What do you think about this?

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