The expert told how to teach kids to spend money wisely

The basics relationship to money and understanding the value of purchase you can lay the child from 5-6 years old to start financial education in 6-7 years, gradually teaching you to manage your own budget and developing in the child the habit of making savings, this was told RIA Novosti the project expert of the Ministry of Finance of the Russian Federation on increase of level of financial literacy Tatiana Yarysheva.

According to her, joint shopping with the preliminary conversation and the acquisition of commodities can become such an example. "In this age, children may not realize the level of price and value buy, so it is advisable to comment on the actions of adults and to explain to the child the basics of choice of products, their value and the importance of shopping tailored to the needs of the family. A personal example is the best way to teach a child to make purchases. Thus, the foundations to do with money, you can start laying 5-6 years", - the expert added.

As they grow older the child acquires and develops knowledge of the world and enriches her financial practice, she continues. Simple financial transactions be his natural habits, and by 8 years had already formed the "skeleton" of knowledge and skills, which further enriched with more complex concepts and experiences. "At the age of 7-10 years can teach a child the basics of managing their own budget and develop the habit of making savings," explains Yarysheva.

The expert notes that for 12 years the child can already be formed the sustainable consumer habits, it surely operates cash and can also pay by credit card. In addition, at this age, children are able to understand the financial situation of the family, to recognize the credit and need payment for use of credit. It is recommended to develop the child not only the skills of saving behavior, but also to involve in achieving family financial goals through the formation of savings Bank account jointly with their parents, advises Yarysheva.

"In 13 years, the children show interest in the possibilities of independent income and development of skills for independent financial solutions. By age 16, the child rehearses adult life, honing the skills, and by adulthood he had formed a stable model of financial behavior, based on his financial expertise and domestic plants," she concluded.