When is the Right Time to Teach Your Kids About Money Matters?

Robert Kiyosaki, the author of the bestseller “Rich Kid, Smart Kid", talks about how financial lessons that he learnt in his early days helped him become a millionaire. It's never too early in the life of a child to start talking about money; in fact, the sooner the better. So, if you haven’t yet initiated such conversations, it's the right time.  You must give your children the financial head start by inculcating the habit of financial management when they are young. 

Read more
Investing in your child's future:A wise decision & a loving choice
  • Insurer pays premium in case of loss of life of parent

  • Create wealth for child’s aspirations

  • Tax Free maturity amount+

  • 12+ plans available

We are rated~
rating
6.7 Crore
Registered Consumers
51
Insurance Partners
3.4 Crore
Policies Sold
  • Insurer pays premium in case of loss of life of parent

  • Create wealth for child’s aspirations

  • Tax Free maturity amount+

  • 12+ plans available

Nothing Is More Important Than Securing Your Child's Future

Invest ₹10k/month your child will get ₹1 Cr Tax Free*

+91
Secure
We don’t spam
Please wait. We Are Processing..
Your personal information is secure with us
Plans available only for people of Indian origin By clicking on "View Plans" you agree to our Privacy Policy and Terms of use #For a 55 year on investment of 20Lacs #Discount offered by insurance company
Get Updates on WhatsApp
We are rated~
rating
6.7 Crore
Registered Consumers
51
Insurance Partners
3.4 Crore
Policies Sold
Why we need your mobile number?
We need it to confirm more details about you and advise accordingly. Our licensed experts work for you, not the insurance companies, so their advice is entirely unbiased
— No sales pitches here

“Don't just protect your child from the future; prepare them for it" - Robert Kiyosaki

From your child's first piggy bank to their first credit card, here’s how you can teach your kids some valuable financial lessons:  

Stage 1: Early School Students

Get a Piggy Bank – Start with giving your child a piggy bank when he enters in elementary school. Personalized piggy bank with their favourite cartoon characters is the best way to encourage kids to take pride in saving money.

Find Fun Ways to Teach–One way to do this is to play the coin identification game. You and your child can trace the outside of various coins and then color them. Then ask your child to match the coin to the image while talking amore about that coin. Apart from this, there are many online games that you can play with your kid while subtly teaching them about money matters. The idea is to introduce them to money.

Stage 2: Middle School Students

Assign a Weekly Allowance –An allowance is a great teaching tool. Fix an amount for your child’s pocket money and don’t give extra pocket money if he spends it mid-week. This technique will allow your child to learn the discipline of money management.   

Teach the Value of Money With Delayed Gratification Technique – Don’t comply with your child’s whim every time; make him understand the value of the money. For example, if he wants a skateboard, ask him to save a bit of his pocket money or earn the amount by doing simple house tasks. Give him a doable target and appreciate him if he achieves it by handing over a bonus

Invest More Get More
Invest ₹10K/Month YOU GET ₹1 Crores* For Your Child View Plans
Invest ₹8K/Month YOU GET ₹80 Lakhs* For Your Child View Plans
Invest ₹5K/Month YOU GET ₹50 Lakhs* For Your Child View Plans
Standard T&C Apply *

Stage 3: High School Student

Involve your Child in Family Budget Planning – Involve your child in family budget discussions. Let him know how much you earn and what are the family responsibilities. This exercise itself will set the wheel in motion.

Send Your Child For Purchasing Household Stuff – Give your child the shopping list and ask him to shop. This will teach him subtle art of negotiation and understanding the economics of market.

Open a Bank Account – Get your child to open his first bank account and teach him about financial concepts such as savings, commissions and interest. A visit to a real branch to deposit money creates a memorable and rewarding life experience for your children. I still remember the pride I felt holding my first bank account book. All of a sudden, I felt responsible!

Child Savings Plan vs Sukanya Samriddhi Yojana Scheme and Public Provident Fund

“One of the greatest gifts you can give your kids is to prepare them to be responsible, empowered adults around money.”   -Unknown

People also read: Child Education Plan

*All savings are provided by the insurer as per the IRDAI approved insurance plan.
*Tax benefit is subject to changes in tax laws. Standard T&C Apply
~Source - Google Review Rating available on:- http://bit.ly/3J20bXZ

child plan investment

Investment

child plan secure

Secure

Secure your Child’s
Career Goal
Start Investing ₹10,000/Month
& Get ₹1 Crore*
*Standard T & C Apply
Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.
Child Plan3
Child Plan4

Child plans articles

Recent Articles
Popular Articles
PNB Education Loan

06 Dec 2023

PNB Education Loan is a financial solution offered by Punjab
Read more
Axis Bank Education Loan

06 Dec 2023

Axis Bank Education Loan is a tailored financial solution
Read more
ICICI Bank Education Loan

05 Dec 2023

ICICI Bank Education Loan is a financial solution tailored to
Read more
HDFC Education Loan

05 Dec 2023

HDFC Bank offers a variety of education loans for both Indian
Read more
SBI Education Loan

05 Dec 2023

When it comes to pursuing higher education, the State Bank of
Read more
Top 12 Government Schemes for Girl Child
Top 12 Government Schemes for Girl Child Government schemes for the girl child are a vital aspect of social welfare
Read more
Best Child Investment Plans to Invest in 2023
Planning for the child’s secured future is not an easy task. Most of the people try to create a strong financial
Read more
Prime Minister Schemes For Boy Child
The Prime Minister Schemes for Boy Child stand as an important initiative aimed at nurturing the boy child and
Read more
Ladli Behna Yojana
The Ladli Behna Yojana is a Madhya Pradesh government initiative aimed at empowering women through financial
Read more
Best Investment Plans for Girl Child in India
Investing in the future of a girl child is one of the most important financial decisions a parent or guardian can
Read more

top
Close
Download the Policybazaar app
to manage all your insurance needs.
INSTALL