April Creations

  Needs Vs. Wants Good financial decisions start by being able to distinguish between what is necessary to have and what is nice to have. Families spend their money first on needs like food, shelter and medicine. Meanwhile, nice-to-have purchases, such as toys and vacations, should be bought only after needs have been met. Older children and teens can further refine their understanding of what constitutes a need. For instance, while everyone needs clothing, designer jeans fall into the want category. Likewise, a home is a necessity, but a personal bathroom or even one's own bedroom can be characterized as a want, rather than a need. “Needs” are the things that we rely on to live (comfortably). “Wants” are not essential to our life, health, or hygiene; they are just things we would like to have . Here in this article, I’m going to introduce two interesting activities to get a clear understanding and difference between Needs and Wants. ·      ...

  Budgeting for Children Money Management is one of the important qualities of a successful person. “ Do not save what is left after spending, but spend what is left after saving,” said Warren Buffet, the second wealthiest person in the United States. Whether you earn more or you earn less, you should be able to plan your money effectively and to spend according to your plan. That is called as Budget.   Being young now, if saving money becomes part of your activities, saving for the future is likely to become a habit. Early financial education can be the first step on the road to being better Money Managers when you are grown up. Hence, in today’s article I’m going to introduce a budgeting tool for you kids. The tool I’m going to talk about is not something new to you, it’s the first bank of every child – The Piggy Bank. But it’s not just having a piggy bank and putting all your money to it for a while and then you would always have an urge to open it / use it when you a...