Teach Your Kids This Habit
Teaching Your Kids About Money
It’s important to educate your kids about money and have frank conversations about it. It will help them develop a healthy relationship with money when they are older.
Spending And Saving
One of the golden rules of money management is saving. It’s important to save a certain amount of your earnings, no matter how big or small your allowance, pocket money or paycheck.
Investing Is What Will Set Them Apart
The habit you should inculcate in them from a young age is the habit of investing. In the long run, investing is what will help them build wealth and become financially secure.
Money that’s in the bank is a safety net. But it’s also money that’s earning little by way of interest. When some of that is invested, the returns over a 5-7 year period are much greater.
The Magic Of Compounding
When you invest, compounding takes over - you earn interest on the invested amount, and interest on the interest earned previously as time goes on! That’s a pretty sweet deal.
Your kids can start small by investing their money in a monthly SIP or Systematic Investment Plan that puts money into mutual funds.
The Benefit Of Mutual Funds
Mutual funds collect money from several investors, pool it together, and the fund is managed by a fund manager who does thorough research to ensure good results.
Learn More About Mutual Funds
Mutual funds are a great way for your kids to invest, for both the short and long term. Learn more about how and where to invest in Scripbox.
Mutual Fund investments are subject to market risks, read all scheme related documents carefully.