QUIZ: What Your Spending Choices Are Teaching Your Kids About MoneyAs they say, kids often imitate what adults do!CREATED WITH BDO JUNIOR SAVERS
Everybody knows how much influence we, moms and dads, have on our children. From the things we do to the words we say, it’s almost sure that our kids are likely to imitate our habits and eventually adopt them as their own. We are, after all, their very first role models.
Such habits include our attitude toward money. Simply out of habit, we probably might not think much of tapping away on our phones to shop during those monthly sales or getting food delivered whenever we feel like it—but these may not be always as harmless as we’d like to think.
Sure, we might be doing our part in teaching our children verbally the dos and don’ts of handling money, but are we supporting our words with actions? Remember: Kids, more often than not, imitate what adults do.
What are your spending choices really teaching your kids about money, spending, and saving? Take this quiz to find out!
QUIZ: What Your Spending Choices Are Teaching Your Kids About MoneyIs making a list essential when shopping for groceries?How many times in a week do you have food delivered for your family?Are you strict with the use of appliances and water supply at home?Do you go all-out on food and gifts during special occasions, like your children’s birthdays?Do you have a tendency to buy things on impulse whenever you’re out on an errand?Do you think online promos are equivalent to retail therapy?Whenever your kids ask you to buy something for them, do you immediately give in to their request?
Besides avoiding making unnecessary expenses, you have to save for your children’s future. During these unprecedented times, making this a habit has become even more important as it assures they are covered not just for the future, but for any other uncertainty that can occur in between.
Do this by opening a savings account under your child’s name, if you haven’t, and regularly put money in it. Do create a savings plan, too, to help them get started on learning the habit of saving. So that when the kids are old enough, they will already be able to understand the importance of saving money, no matter how little the amount may be, from their baon, regalo, and even pamasko.
Open a BDO Junior Savers account today and help secure a bright future for your children. This savings account is for kids ages 0 to 12 years old and requires a minimum initial deposit of P100. Once registered, you can directly access your child’s account by enrolling it in your BDO Digital Banking app. This way, you can now regularly put money into their accounts with ease and peace of mind.
Good luck, moms and dads!