The COVID-19 lockdown may be a great time to teach kids some of life’s lessons.
Schools across New Zealand have closed, which leaves parents having to work from home and watch their children. Making sure kids are getting their school work done, as well as keeping them occupied outside school hours isn’t easy. There is a silver lining. The extra time together as a family helps teach kids some of life’s lessons.
“It’s not how many times you get knocked down that count, it’s how many times you get back up.” We’re living in a time when that saying is relevant. An upheaval like the coronavirus pandemic can cause anxiety. To avoid passing this anxiety to kids, it’s important that parents stay optimistic around their children.
Try talking about the things we can control during uncertain times. Like having compassion for others, awareness around spending, and a sense of gratitude. This helps children know that during a crisis there are still parts of their lives they can control. It helps them look at challenges with a positive mindset.
While access to new items is limited, children could learn skills for when they’re old enough to live on their own. Important skills like mending clothes and gardening can equip children to be self-reliant in the future. With some items not available at shops, parents could also teach children about rationing and budgeting.
Teaching children about being savvy with money doesn't have to be tricky. It can be as simple as asking how many coins it takes to buy a packet of biscuits. You can encourage them to save the change you get from a purchase. Over time those small amounts build up. This will help kids see how money can grow. There are many great apps and websites that help teach kids about finances.
Talking to older generations can help children understand important concepts like retirement. The knowledge about money that can be shared between an elder and a child is a valuable conversation.
Staying safe online
Kids spend a lot of time on devices for both education and entertainment. Now could be a good time to talk to them about online safety. It’s fast becoming essential for children to know how to be safe in the digital world.
Learn digital skills
Parents can show children how to use their digital skills to help others. There are many resources on the internet that teach children how to code. Having skills like this in their toolkit can help children become great digital citizens in the future.
The kōura difference
The sooner you think about your future the easier it is to save for your first home or retirement that is why we think it's important to get your kids thinking about money at an early age. It is our role to empower you and your families to make better financial decisions with better information.
kōura gives you the tools to understand your KiwiSaver fund. Our KiwiSaver plan builder tells you what your KiwiSaver balance could give you for your retirement or first home and we will build you a plan to give you the best chance of getting to that plan.