5 things schools won’t teach your child, but you must!

5 things schools won’t teach your child, but you must

We send our children to the best schools out there. CBSE, ISCE, IB, Cambridge … every parent aspires the best curriculum and school to ensure the overall development of their children.

The schools have successfully churned out doctors, engineers, scientists, and even sportspersons. However, one of the most important life skills is not that often touched upon is money management.

The five key drops of the money management ocean, as listed below, could be a good starting point.

  1. Budgeting: It is one of the most important skills that is better learned when children are very young. It enables children to think about the money/ resources in hand and allocate it as per priority.
  2. Spend Analysis: How much has one spent on food, shopping, entertainment, books, etc. Children do not really bother about it but if they find an avenue where they could check such insights on their expenses, it does get them excited. It also gets them thinking. They start planning their expenses in their head, thus taking the first steps towards building great money habits.
  3. Saving: The most legendary money managers on earth have advised that we save first and then spend what is remaining. These habits ought to be formed young. As a parent, do you help your child to set saving goals? Do you incentivize them if they live within a budget and save? These are small steps that go a great way in making your child a financially prudent citizen.
  4. Getting more value from money: An important lesson in money management is to make your money work as hard as you. Does your child get excited at the possibility of getting a free meal, toy, cookie etc. Encourage children to get more value from the money they use. It sows the seeds of “Savings” in their head while not compromising on the little joys of life.
  5. Digital Payments: The payments space is seeing a huge technological disruption. The mobile phone will be a ubiquitous payment device in the very near future. Children ought to be taught how to handle digital payments through their mobile devices so that they are at ease managing money independently.

Most of these things are not taught in schools. However, there is little doubt that these skills would be amongst the most important for your children when they grow up and start managing their own money.

In our fast-paced lives, such little things often find their way to the backburner. But, it’s these little things that go a long way in building a secure financial future for your children.

To take care of these little things that leave an ever-lasting impact on your children’s future, we present Slonkit to you with a lot of love.

Slonkit is India’s first money management app linked to a physical VISA card. It is powered by VISA, the world’s leading payment network and DCB Bank, India’s fastest emerging private sector bank.

Parents can order a Slonkit card for their children aged 10 and above, from the comfortable confines of their home using the Slonkit mobile app. They are not required to fill lengthy documents or create a new bank account. The card is delivered to their address within 10 days.

Once received, the entire pocket money for the month can be given to children in one-click. They can set PIN for the card and the child can use it at all shops that accept VISA card anywhere in India. The card can also be used online.

Parents can relax and receive real-time updates of where the child is spending. They can also set alerts to intervene and transfer money in a few seconds if the child runs out of money. Parents are empowered to set budgets, transaction limits etc. and usher the child into the world of great money habits.

“Is Slonkit safe”? That’s the most important question any parent would have, and rightfully so. We have ensured the best possible industry standards of safety and security. In case of any doubts, parents and children can reset their PIN anytime. Also, if the card is lost or stolen, the card can be suspended in one-click and the money on the card will be safe.

Help your children learn money management today. That’s the best gift you can give them to secure their financial future.

Download Slonkit right away. You may download from play store or you install the app from iTunes.

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