Raising financially savvy girls to be ready for the future

While it is good to celebrate the young ladies in our lives, that isn't enough. It is also essential to help our girls become financially savvy. That begins at home with basic money management lessons.

Women being financially independent is an accomplishment and a big win for gender equality. However, starting young is helping making it several times easier. Here are seven ways to raise financially savvy girls to face anything in today’s world.

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On International Day of the Girl Child, while it is good to celebrate the young ladies in our lives, it is also essential to help them become as financially savvy as possible.

And what better way than to raise them right. Equipping them for life ahead, setting the trend and making learning fun is the optimum way to turn our girls into confident, independent and financially savvy women.

Make them aware

It is important for the young girls in our lives to recognize their rights as well as prepare for the unique challenges they are set to face as they grow. Shed light on the challenges, biases, dangers and injustices young girls across the world face today.

Help them feel the need to be empowered and to campaign for the empowerment of girls like them while advocating for education, autonomy and financial freedom.

This comes when they’re aware of the millions of girls out there who don’t have access to basic needs like education, nutrition and healthcare. Being financially aware is perhaps the best way for them to break through all barriers.

Equip yourself first

On average, kids spend the most time with their mothers. Women play a critical role in mentoring girls. As parents, it is essential for you to be equipped with financial knowledge first before your transfer that knowledge to your daughter.

Talking about it also helps. Explaining to your girls about the financial mistakes you’ve made ng is enhanced when it is open and sincere. Telling your daughters about the mistakes you made will help them learn from your experiences.

Open their horizons

Becoming financially savvy comes with its share of hard work and persistence. Help your girls find a vision and aim for the skies. Encourage them to excel in pushing the envelope in what they can do. Fan the entrepreneur in them. Teach them to take charge of their finances early on.

Also, take time to listen to them. Find out what their interests are. Figure out what challenges they face. Guide and support their every step.

Teach them the power of saving

Getting started on savings at a young age is financial lesson one. Help them inculcate a habit of saving so they manage money better in the long run. They will learn to be careful about how they spend and even set aside money for the next step: investment. Give them a piggy bank to start saving and give them an allowance for tasks. Show them how to run a successful savings account. Prepare the future businesswomen and entrepreneurs.

Make learning fun

Turn financial learning into fun games. These make the whole experience engaging and interesting. Learning financial discipline through games is a great way to remember it. Work with money values, play Monopoly, explain concepts with shopping games and work out a budget on an actual grocery run.

Set an example

Be financially stable yourself and be a role model for your girls. Show them how your bank statements look, teach them how to set aside money through your own savings plan and equip them with good personal lessons.

Show your daughters that you are responsible with money. When you splurge, you’re setting the negative benchmark for them. Help them make decisions with you and appreciate them for their money management skills. That’s setting them on the path to financially savvy girls.

Show them the way

Make money management a way of life, not a luxury to practice only when required. Live a smart lifestyle and show your daughter that this life is possible. Guide them to the best education and set them on the path to a successful career. Show them what they want to achieve in life. Safeguard them from bad spending habits and nurture their financial creativity.

What you teach them today is what they will pass on tomorrow. Good luck and get hustling on preparing your young child a better woman.

This page is purely informational. Line does not provide financial, legal or accounting advice. This article has been prepared for informational purposes only. It is not intended to provide financial, legal or accounting advice and should not be relied on for the same. Please consult your own financial, legal and accounting advisors before engaging in any transactions.

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