In today’s materialistic world, it can be challenging for parents to raise children who aren’t spoiled. Children are bombarded with advertisements for the latest gadgets and trends, and it’s tempting for parents to simply give in to their demands.

However, research shows that spoiling children can lead to entitled and self-centred adults who lack financial responsibility.

To overcome this issue, here are some pieces of advice that can help instil positive qualities like generosity and financial literacy in the next generation. Teaching the Value of Money One key strategy is to talk to your children about money from toddlerhood.

Very young children can begin to grasp basic concepts like the difference between wants and needs. As they grow older, parents can explain where the family’s money comes from and how it is budgeted.

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United States	Cases: 46 252 513 Deaths: 750 423 Recovered: 0
India	Cases: 34 321 025 Deaths: 459 652 Recovered: 0
Brazil	Cases: 21 835 785 Deaths: 608 235 Recovered: 0
United Kingdom	Cases: 9 215 683 Deaths: 141 607 Recovered: 0
Russia	Cases: 8 494 589 Deaths: 237 619 Recovered: 0

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