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5. Teach them how money works in the real world
Teach children how money works to enable them understand how to manage it.
When it comes to money, children are said to lack perspective. For instance, a child might think N1000 is all the money in the world.
As a parent, you’ll need to teach your child how much money is needed to run a household and how to manage the money to actualise what he intends to achieve.
