Saving is one of the foundations of frugality.
Dallas, TX (PRWEB) February 18, 2014
Parents who are trying to teach their children how to be frugal can use the tips provided by Debt Consolidation USA in an article they published last February 12, 2014. The title of the article is “5 Ways You Can Teach Your Kids To Live A Frugal Lifestyle” and it discussed the important role of parents in shaping the financial behavior of their children.
The article focused on frugality because it teaches the children a variety of lessons already. With that, the article provided parents with 5 suggestions to get the frugal lessons across.
1. Encouraged kids to set saving goals. The article started by saying that saving is one of the foundations of frugality. If the child likes a toy, they should be encouraged to save up for it so they will not be used to getting what they want without working hard for it. It is also a great way for parents to teach the lesson about wants and needs.
2. Shop with kids at thrift stores. Leading by example is a great method of teaching. With that, parents should shop in thrift stores and bring their kids along. Teach them a lesson that being thrifty does not mean cheap. It means being practical and getting the best value for their money.
3. Price comparison. The article encouraged parents to teach their kids to compare prices. They should be taught this lesson at the grocery where the same product from different brands are displayed together. The important lesson here is to not base it purely on prices. The lowest amount is not always the frugal way. The purchase can be expensive as long as it will give the best quality. The article advised parents to always shop with a list so their kids can adapt the same practice.
4. Get library cards for the whole family. The fourth lesson is to teach kids how to take advantage of items that can be borrowed from the library at no cost. Get everyone library cards so they don’t have to spend on entertainment expenses. For instance, they can borrow books and movies from the local library.
5. Allow kids to manage their allowance. Lastly, the article encouraged parents to let their kids manage their own allowances. This way, the children will learn how to stretch their money and practice self control. They will develop the discipline that will keep them from spending their money all at once.
Debt Consolidation USA believes that with frugality lessons, the children will grow up getting used to living within their means and saving more instead of spending. To view the rest of the article, click on this link: http://www.debtconsolidationusa.com/personal-finance/5-ways-can-teach-kids-live-frugal-lifestyle.html.
Debt Consolidation USA is a debt relief company that offers debt solutions to consumers who have unsecured debts. Give them a call at 1(877)610-6990 to talk to one of their friendly debt experts. Consumers can also take advantage of the hundreds of articles on their website that can help with self education - especially on debt and financial management.