Use real-life lessons to teach kids about savings and investments

A child should understand that earning money is essential

The summer vacation is a good time to teach children many things, including money. “In today’s virtual world of television and mobile entertainment, it is necessary that kids are trained for the real world, which includes handling and knowing about money management,” says Jignesh Shah, Founder, Capital Advisors.

You do not grow rich overnight: Accumulating wealth is a long process, and hence, one has to teach children that the empowerment of having money does not come overnight. You can do it by having a plan to explain this aspect to your child. If your kids, for example, ask to purchase something