Make your kids smarter by teaching these 6 money concepts during different stages of your kid's life: Infographic

Ensuring that your kids know how to deal with money as they are growing up give them a much better shot at a trouble-free economic life as adults.

It need not be a topic that you should teach them, and indeed the best lessons your children will receive will be from observing you in your daily life. For this reason, it is important to be open up about what is going on in the household and discuss problems openly with in front of your kids when appropriate.

As they get older, your children will be directly introduced to increasingly complex aspects of home economics - from saving and earning to budgeting and investments. Give them some projects to do, such as saving for a specific treat or buying presents on a given budget. Encourage them to get involved when you’re shopping or in the bank so that handling money and understanding what it means becomes inculcated in them.

Also read: A New Study finds Children who are Physically active suffer less from depression

Make these approaches as part of growing up and you can impart a responsible and wise sense of economy into your children before they start to handle more serious and complex quantities in their late teens when they leave home. It is very easy to make an informal education plan. Have a look at this new infographic which guides you how and when its best to introduce different facets of finance into children's life.

Courtesy of: On Stride