As a parent, you are probably great at teaching your tyke good manners and how to stay safe. But when it comes to money matters, many of us chicken out and hope the teachers at school will take care of it. Imparting money skills may be a bit challenging for parents, especially those who don’t feel that they are doing a good enough job of handling it. Yes, we’re talking to you, who has just completed her third online buy, all before lunch time!
Unlike the other parts of parenthood, such as getting your kid into a good primary school or how to get junior to eat his veggies, there’s usually little buzz among parents on teaching their little ones to be financially savvy.
Yet, experts agree that parents are the number one influence when it comes to their child’s financial behaviour. So, the sooner you start imparting financial wisdom, the better off your little ones will be. By doing so, you are also raising a generation of mindful investors, consumers and savers.
Not sure how to begin? Here are some simple activities to kick-start your little fella’s path to financial freedom.
Infographic: Lim Jae-Lynn
Enjoy all these and more when you sign up as a Mighty Savers® today
- Priority queue for your child on Sundays at select, family-friendly, Sunday at OCBC branches.
- Never miss out on a promotion with OCBC Family Times, a monthly e-newsletter.
- Download the OCBC Mighty Savers Mobile Game App to learn good money management habits the fun way. It simulates how money is earned and how it can be used to accomplish a checklist of goals.
Article sponsored by OCBC Bank.
Important notes: The Terms and Conditions Governing OCBC Mighty Savers® Programme, OCBC Mighty Savers ® Chinese New Year Promotion and OCBC Monthly Savings Account apply. Please refer to ocbc.com/mightysavers or visit any OCBC Bank branch for a complete set of terms and conditions.
Deposit Insurance Scheme: Singapore dollar deposits of non-bank depositors and monies and deposits denominated in Singapore dollars under the Supplementary Retirement Scheme are insured by the Singapore Deposit Insurance Corporation, for up to S$50,000 in aggregate per depositor per Scheme member by law. Foreign currency deposits, dual currency investments, structured deposits and other investment products are not insured.
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