4 Lessons to Teach Your Kids About Money

finance

As your kids grow up, their understanding of the world around them is often based on what you teach them. For this very reason, it is essential that you take steps to ensure that they understand the importance of money, and how it can affect their lives. If you’re looking to give your kids a head start on all things finance, here are 4 important lessons to teach them about money.

Learning About Income

Pocket money is a great way to introduce your kids to the idea of income. Every family is different, but the basis of pocket money is that you give your kids a small weekly allowance in exchange for them completing a few set jobs around the house. Whether it is finishing their homework, maintaining a tidy room or helping out with dinner, you can customise your system to reflect your family values. The important moral of the lesson for your kids is that they begin to understand and appreciate that money needs to be earned, and is a benefit of doing their work.

The Value of Money

Many children grow up without truly understanding the value of money. Now that your kids have their own allowance, you can help them to realise what their money means. Ask them what they would like to save for, and spend some time talking about how many weeks pocket money it would take for them to have enough money ready. This will help your kids to connect the work they do with the money they receive, and in turn what they can use it for. All of this will coalesce into a better understanding of the value of money.

The Importance of Saving

Once your kids begin to grasp the concept of getting pocket money and using it to buy the things they want, you can introduce the importance of saving. Spend some time explaining the way that saving helps you to achieve the really big things that you want, as well as making life easier in the future. By putting even a little bit of their pocket money aside every week, they will be learning essential savings habits for later in life.

Using the Bank

It’s a great idea to set up a bank account for your kids, and show them how the system works. Bring them with you whenever you are making a transaction, and get them to help with the withdrawal and deposit slips. By physically being involved in the banking process, your kids will gain valuable skills on how to manage their finances.

Addressing Your Own Financial Stress

It’s hard to be a good role model when you’re struggling with your own finances. Fortunately, there is a great range of quality financial advice available for when you need it the most. Choosing a reputable provider is the key to success, and a firm such as Fox Symes is recognised as being one of the leading debt solutions specialists in the country. From budgeting advice to debt assistance, the team will work with you to find the best strategy for your financial needs.

Teaching your kids about money is an essential aspect of their growth, and these important lessons should provide a framework of knowledge for them to build upon as they mature. Remember to contact the FSA Group for a free and confidential discussion if you want to get back in control of your finances for good. By setting a good example and being a great role model for your kids, you are giving them the best possible chance of having a bright financial future.

10 Tips for Safe Cycling

cycling

Cycling is a fun, healthy hobby that millions of people enjoy – but like any other activity, cycling is not without risks. Whether you’re an experienced cyclist or simply a weekend bike rider, keep these tips in mind to ensure that your cycling experience is both safe and enjoyable.

  1. Obey all traffic laws. Never ride against the flow of traffic. Signal every turn, and never exceed the posted speed limit – especially on long downhill stretches of road.
  2. Always wear a properly fitted helmet. A helmet can dramatically reduce your risk of head injury while cycling; however, to function properly, your helmet must be fitted correctly. The straps should be snug but not tight, and the helmet should cover the front part of your forehead. If you’re unsure about fit, take the helmet to your local Merida bikes shop – they’re usually happy to help adjust your helmet.
  3. Don’t wear headphones. It’s easy to see the appeal of listening to your favorite songs as you pedal. However, it’s important to be able to hear what’s going on around you at all times. Headphones can cause you to miss important external cues, like car horns, that help you avoid danger.
  4. Keep your bike in good condition. When was the last time you had your bike serviced? If you don’t know, it’s time for a tune up. Tires, shifters, and brakes all require periodic maintenance, even if you’re only an occasional rider. A tire blowout at high speeds, a brake failure, or a sudden derailment all have the potential to cause accidents.
  5. Use lights at night, and reflectors at all times. Never assume that other motorists and cyclists can see you, especially after dark. Blinkers, reflectors, and lights will all help increase your visibility.
  6. Never pass on the right. Most cars have a blind spot at the rear right of the vehicle. Given that cyclists are already at a disadvantage when it comes to visibility, it’s even more important to be aware of this, and plan accordingly.
  7. Ride defensively. Never assume that other drivers will act predictably. Stay aware of what’s happening around you, both in front and behind. Road hazards like broken glass, tree branches, and sewer grates, which might not be problems for cars, can certainly be dangerous to cyclists, so keep a keen eye out.
  8. Make eye contact. As much as possible, make eye contact with drivers and cyclists around you. It will help ensure that you’re noticed, and will help in sharing the road.
  9. Know your brakes. Every bike is a little different – don’t wait until you need them to get to know your brakes. It’s particularly important to know whether your bike uses front brakes, back brakes, or a combination of both. In an emergency situation, it’s best to brake from the rear tire first, if possible.
  10. Make sure your bike is properly fitted. It’s difficult to ride safely on a bike that isn’t properly fitted. The frame should be correctly sized, and the seat and handlebar heights should be at the right levels for your body. If you’re not sure how to achieve a good fit, your local bike shop can help you make the adjustments.

Two Places at One Time

Have you watched A Walk to Remember, the movie which starred Mandy Moore and Shane West? It was a story of a young teen who’s suffering from an illness. She got a list of what she still wants to do before she passes. One of her wishes was to be in two places in one time. Shane West granted this wish by bringing her to the border going to Virginia. I really thought it was a brilliant idea.

When we had our getaway last weekend I had no idea I that I could do the same thing. We were on the tail of our family friend’s car coz we had no idea where we were going. Suddenly my friend’s husband stopped and got out. The next thing I knew we were on the border of Germany and Austria. I really was so happy! I didn’t know Austria was just less than an hour away from where we went. We went out of the car and Micha (my friend’s husband) said, “picture-picture”. He really knows we would not miss that opportunity. 🙂

austria, austrian border, border

My shot may not be as romantic as in the movie and no white line like where Mandy crossed but still I crossed! 😛

Since the trip was not earlier planned, we didn’t do that much on the first day that we crossed. We actually just went to buy some groceries from a supermarket called Eurospar. It was a Saturday and we had to buy groceries good for two days. We actually laughed thinking we went to Austria just to go to a supermarket. See, there was really no plan of crossing the border.

I’ve always thought of travelling to other countries here in Europe but I never thought it would come this soon. I know it’s not the vacation I dreamed of but just the thought of crossing a border by car made me so thrilled.