Teaching children to respect and manage money is crucial for future success and well-being. Instilling values of respect and responsibility toward money at a young age can lay the foundation for a lifetime of financial stability. However, many parents may feel uncertain about approaching this topic effectively. This article explores practical tips on teaching children ...
Paying for things digitally is so common that most of us think nothing of swiping or tapping our card, or using mobile payments. While doing so is second nature, we may be more reluctant to provide card details over the phone. Merchants are allowed to ask us for credit card details over the phone — ...
There are three types of expenditures in this world where the more you spend, the more you earn. Moreover, these are expenses that you should not hesitate to take on. What are these 3 expenditures? 1. Investing in self-growth Investing money in one’s own mind is the safest form of financial management. Some may argue: ...
The richest man in Asia, Li Ka-shing, said that in these three areas concerning money, the more you spend, the more you earn. Let’s take a look at the three principles behind this statement. Investing money in educating yourself No matter what your financial circumstances are, educating yourself is always a wise decision. Li believes that current ...
There is a custom in China for parents and grandparents to give lucky money to their children and grandchildren on Lunar New Year’s Eve. It is a year-end bonus for each child. I have two daughters. When the elder daughter was in fifth grade, we spent New Year’s Eve in their grandparents’ place. The children ...
Some people inherit wealth and others create it through their own efforts. Those who generate wealth do so by following certain strict rules. 3 tips to manage and build your wealth just like rich people 1. Know the differences between ‘needs’ and ‘wants’ Develop an understanding of the difference between a need and a want. ...
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