Money Guru: Tips To Teach Your Kids About Smart Money Management | Childrens Day Special

Explain the importance of money to your child from the age of 5-7. Make a budget for the necessary expenses by sitting with your child. Before buying stuff, teach saving. Explain the use of the credit card. Teach your child how to shop online. Get financial planning done with piggy bank money. Do not hide your financial status from children. Teach money management through books. Motivate kids to earn pocket money. Pocket money is the first step in financial planning: Feroze Azeez, Deputy CEO of Anand Rathi Wealth Management and Vivek Bajaj, Founder of StockEdge.