Money doesn't grow on trees

Money management skill is a key life skill that all parents need to teach their children. It is never too early to teach a child about money and the process can be made easy, fun and enjoyable for both the parent and child.

As a start, an introduction of a few key money values are important for the child to understand that money doesn't grow on trees but something that they would need to (earn), save, spend and share wisely. While money is important, it is not everything - not everything can be bought with money, and/ or need to be bought with money.

Are there really anything that is free these days? Perhaps not. However, a mini barter trade game could help a child to better understand the need and use of money with ease and fun.

Barter trade is a form of goods and services exchange in the absence of money in the olden days so why do we still need to teach it? This concept remains very relevant and important but instead of cashless trade, it is now more commonly seen in the new form of cross promotion, marketing or business collaboration.

So, why not have some fun teaching your child about money by first showing him/ her how a barter system can work out to be an amazing, fun and wondrous deal? Check out this link at - http://www.dailymail.co.uk/news/article-395132/Man-trades-paperclip-house.html. Have a go at your own mini barter trade game too for a more "hands-on" learning experience!

And yes, teaching children about money can interesting and enjoyable - this is but one of the many creative, easy to learn and fun ideas that Numis Academy offers in its financial literacy programs for children.

Details can be found in the link here.