Learn to Rise

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Tip no 7

Decision-making

As much as we try to encourage our children to make smart money decisions, it’s important that we allow our kids to feel in control of their financial decisions. While they are relatively young and the damage can be limited to the extent of their pocket money, let them know what it feels like to make purchasing decisions with their own money. Not only does this develop financial responsibility, it also helps them understand all that is involved in the decision-making process such as price comparisons, market research, cost-benefit analyses, peer pressure, their own emotions (how they feel about parting with their money), and freedom of choice