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Radaris • 3m
Financials lesson to teach you son early. ## Basic Concepts of Money - **Saving and Spending**: Introduce the concepts of saving and spending through practical examples. Use a piggy bank to encourage saving for special items, helping him visualize how money grows over time. - **Allowance and Budgeting**: Provide a modest allowance linked to chores. Teach him to allocate funds for spending, saving, and investing. - **Work and Earning**: Explain that money is earned through work. Create a chore chart with "wages" to illustrate this relationship, reinforcing personal responsibility. - **Needs vs. Wants**: Help him differentiate between needs and wants by making lists together. - **Money Management Skills**: Explain concepts like investing and the importance of avoiding bad debt. - **Inflation Awareness**: Teach him about the loss of value of money over time. Use real-life examples to illustrate how prices change.
Trying to do better • 8m
Day 7 About Basic Finance and Accounting Concepts Here's Some New Concepts 8. Liquid Assets Easily convertible into cash without a significant loss in value. Examples: cash, cash equivalents, and accounts receivable. 9. Illiquid Assets Assets
See MoreSoftware engineer • 1m
💡 Excited to share an idea I’m currently building into a Proof of Concept (POC): A money-splitting and scheduling app that puts financial control back into the hands of the user. Imagine depositing ₹10,000 and being able to split it into ₹1,000 ev
See MoreYour Bottom Line Our... • 19d
Finance Tip – Day 4 *🏦 “Don’t save what is left after spending; spend what is left after saving.” — Warren Buffett Make saving a non-negotiable part of your monthly budget. ✅ Set up auto-debits to a savings/investment account right after your sala
See MoreCrafting Visuals- Gr... • 9m
Here's what I have learnt in the Graphic Design institute : Tools and tools Graphic design institutes only teach tools like Photoshop and Illustrator. They never focus on basic concepts or foundation. They don't teach about color, typography, eleme
See MoreEarly Retiree | Fina... • 1m
This one single tip has reduced my anxiety about money a whole lot. When spending, I now don’t bother with stuff that costs less than 0.1% When investing, I consciously take decisions in % terms. It has made investing a hell lot easier and I can m
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