Every parent should educate their kid about the importance of money in the world. By doing so, you are not creating an unnecessary pressure onto your kids. But you are only getting them ready to be smart about their financial decisions later on. Most parents do not consider this as important. Due to which the children have to learn about the finances on their own later on. This not only takes up their time but also make them to do mistake which cost them their hard earned money. Most people who take constantly bad financial decisions were not taught anything about managing the money. You certainly do not want your child to be broke later on in his or her life, therefore, there is no reason that you should not consider teaching them about money.
Investment is always better than saving money in a bank:
Investing your money would be the best decision that anybody could make to grow their money. However, it does not mean that you should not save. It is quite important to have emergency funds so you can easily access money whenever you are in serious need. There are various tutorials available online that can help you to learn about how you can manage your money well. Before you invest your money, make sure that you have enough knowledge about that particular sector you are putting your money in, so you don’t end up losing it.
Consider a loan with the lowest interest rate possible:
Whenever you are required to take a loan, make sure to choose secured loan. Here you can even Pledge a Car on finance [รับจำนำรถยนต์ติดไฟแนนซ์, which is the term in Thai]. Pledging your property as a collateral will dramatically lower your interest rate as the lender gets an option to recover the money through your goods, if you can’t pay it. In the case of a secured loan, you do not even have to worry about your credit score.