Wednesday, July 23, 2014

How Jim teaches his kids the value of money

When they were born, I got each of them six piggy banks. They have piggy banks for US dollars, Singapore dollars, etc. 

I’m not trying to teach them to be currency speculators, but I do want them to know that a) they should save 
b) that there are different kinds of money

Jim Rogers wants his children to learn to value money and how money is earned. He says "The children get paid when they do extra chores". He wants his kids to learn from a young age that money “doesn’t fall out of the sky” and “you have to work hard and save it”.

If I can instill in them the necessity to save and the habit of saving, then I will have done the best I can in this stage of their lives.