teaching kids on financial planning

Expose your kids to financial planning

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Expose your kids to financial planning as earlier as you can. You can start reading about ‘Rich dad Poor dad‘, so it gives you some ideas how to do so. But meanwhile, before your kids grow older, you may consider using Muppets, just like what Tarun Chugh believes.

Tarun Chugh, a 46 year-old managing director and CEO of life insurance firm PNB Metlife, is a Snoopy fan, and has Charlie Brown’s lovable dog from the comic strip Peanuts sitting pretty on his business card,  is obsessed with Chamki, Grover and Elmo, reported Economic Times.

And he believes these Muppets could teach kids lessons in financial planning such as spending, saving and sharing. The children are now influencing the insurance-buying decisions of their parents.

Kids today are more aware and exposed than before; they also have opinions about almost everything and are in sync with the latest trends and preferences globally. Ashita Aggarwal Sharma, professor of marketing at SP Jain Institute of Management & Research said that parents seek their suggestions in purchase decisions be the high involvement products or mundane routine offerings.

We definitely agree with Tarun that, it is important to expose kids to the world of financial planning and money management from a young age so that they value it. As responsible parents, you can consider making use various tools the kids’ fond of or familiar with, to inject the concept of financial planning and money management into them.

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