Money for children is not a toy, but a financial pillow and a method of education. What services does the market offer them now? How to bring up a zealous attitude to money in a child? Which is better - a bank card in your backpack or cash in your pocket? Let's figure it out.
Both banks and insurance companies are now proposing to spread the "financial straw" in the form of savings for adulthood (admission to college, study abroad, wedding, etc.). Moreover, it is not at all necessary to wait for the child to receive the passport. While he is away, parents can arrange financial services in his name. With the advent of a passport, a teenager can replenish the account they have opened, withdraw interest from it.In order to open their own account or get a debit card, a teenager will need the written consent of the adults who are responsible for it.
With an eye on inflation
The first thing that comes to mind when mentioning the above "straw" is a time deposit. Not from the word "urgent", but from the word "term": money that you put in the bank at interest for a certain, predetermined time.
It will not be possible to remove them completely or partially without consequences until the hour X. For such a bank will charge the client with a fine and will not return the accrued interest. By the way, if the deposit is opened in the name of the child, no one, except him, will be able to withdraw money from there. Yes, and he will succeed only after 14 years, when interest will be available to him (as a rule, the longer the term of the deposit, the more they are), and after 18 years, when the Civil Code will give him the right to completely dispose of all the money.
Of course, it is very profitable to put a large amount on such a deposit when opening it at once - the interest will be higher. But not every wallet can handle this. Therefore, as a rule, people make out a replenishment deposit - anyone can transfer any amount to it at any time - even at a bank branch, even online, at least through an ATM or by other means.
The main advantage of such investments is that a deposit of 1.4 million rubles is insured by the state. Minus - it is not clear how much inflation will devalue money in 18 years. Well, and the bank must, of course, be chosen very thoughtfully.
Another way to raise money for a child for adult life is with an endowment insurance policy. It is somewhat similar to a long-term investment, but there are nuances. Parents or other relatives also draw up an agreement in favor of the child, accurately and regularly depositing money into the account, on which interest drips. But if something unpleasant happens to these adults (death, disability, illness, other risks - this is stipulated in the document), the insurance company will continue to make payments for them. As a result, by the end of the contract, the child receives the amount for which everything was started.
Such an agreement is concluded for several years - from 5 to 20 (the longer the period, the higher the profitability), while the child should be from six months to 17 (but the insurance company may have their own age preferences).
To increase the profit on such a deposit, many companies offer to include in the agreement the possibility of earning income from investments, that is, part of your money will be involved in the stock market. There is a possibility that such an investment will bring you (or rather, your child) additional income, but you should not exclude the risk of losing them - it all depends on the market situation, as well as on the strategy chosen by the company that manages your deposit. In any case, before agreeing to this kind of financial manipulation, you need to weigh the pros and cons, as well as clarify all the nuances - before signing the contract.
In general, it turns out that the main advantage of this kind of investment is that the child will receive the agreed amount by the agreed date, no matter what happens to his relatives. Well, the main disadvantage is that this amount, unlike the deposit, is not insured by the state. That is, if the insurance company loses its license, you will have to sweat to get yours back. And it is not a fact that this will be done in full.
Slowly but surely
Another option for prolonged financial assistance to a child is an impersonal metal account (MHI). It is depersonalized not because anyone can “skim the cream”, but because the precious metal in which you invest does not bear personal characteristics such as the number of bars, sample, serial number, manufacturer's name, etc. By selling you a certain number of grams, the bank simply credits them to your account. And then they receive the accumulated money, as a rule, in money, and not in castings (VAT will have to be paid for the "live" metal).
It is most profitable to open such deposits much ahead of time - say, when the child is still very small, because precious metals are becoming more expensive slowly, but, as a rule, right. That is, for a couple of years, the difference between the invested and received will not be very noticeable, but 10-15 years can show a very good profitability. Again, metal deposits suffer less from global crises, and sometimes, on the contrary, do not suffer, but generate income - in contrast to stocks, insurance and currency, which, as a rule, react more painfully to such cataclysms.
One of the charms of OMS is its perpetuity. Yes, and there is nowhere easier to open it - in your personal account on the bank's website, choose how much and what kind of “paper” precious metal you want to buy (the favorites are gold, silver, platinum and palladium), press the final button, the system deducts the required amount from your account, and that's it - your child became the proud owner of a virtual metal piece. You can just as easily increase this piece later by purchasing precious grams. Upon reaching the age of majority, the child will be able to receive the accumulated - ingot or money. And you will not be able to lose income, as can happen with the early closure of the deposit or termination of the contract with the insurer - there is no interest. There is only the current value of a particular metal, which only grows over the years.
But such investments also have a minus - they also do not fall under the deposit insurance law, so the bank from which you want to buy a little gold or platinum should be chosen with special care.
Equally with adults
It is clear that the need for money may appear in children long before the age of majority. The financiers, of course, could not ignore this and happily issue bank cards for them from the age of 6 (according to the law, from that time on, children can make small household purchases).
True, plastic is still tied to the parents' account. A teenager can start his own account as soon as he has a passport, however, to issue a card, you will still need an official written "good" from the parents.
In addition, a children's card is not much different from an adult one - with its help you can also receive points, cashback or discounts from bank partners, use a special application, monitor the balance, save money …
True, it can be exclusively debit (no one will issue a credit card until the age of majority for the child) and - at the request of the parents - introduce some restrictions on operations (for example, a limit on daily spending, a ban on payments via the Internet or the introduction of a strictly specified maximum monetary maximum for such transactions) …
Often, parents can set all these obstacles themselves - in a mobile application or personal account on the bank's website. The severity of the ban can also vary in many financial institutions.
For example, block access to Internet payments completely or make them available only after the parent SMS confirmation of the transaction. You can prohibit cash withdrawals or transfers to holders of other cards and accounts, as well as connect an SMS notification about each operation on a child's card.
Of course, before handing the card to a child, you need to firmly memorize with him the rules of safe handling. Tell him about the secret of the PIN code and the tricks of scammers, about what to do if you lose your card and the dangers of unprotected wi-fi, tell him about phishing sites and the dangers of being too open on social networks …
In general, plant the seeds of vigilance in the child. The advantages of plastic are obvious: the child is introduced to modern means of payment, learns to manage money remotely, and it is problematic for him to lose it (unless an attacker steals a card along with a pin code and a mobile phone written somewhere, having managed to empty the child's account before blocking).
In case of loss of a card, it can always be reissued without prejudice to savings. The disadvantages of "plastic money" include their virtuality. Even an adult is psychologically easier to spend such savings (especially if the card is overdraft), what can we say about children. And it is easier to count money when it is in your hands, and at the initial stages of mastering financial literacy it is necessary.
Well, about those "tame" rubles. Whether or not to issue pocket money to children is a private matter for each family. In our country, unlike many countries where the state even issues circulars about how much it costs to give out to children every month, this business is not limited in any way. Someone thinks that money is not a toy for children (“everything you need is there,” “he will still spend it on nonsense,” etc.), but someone is sure that early and close acquaintance with them is only beneficial (“Learns the price of money,” “learns to save,” “will not be complex in front of peers who have money,” etc.).
Parents from the second group are nicer to psychologists and specialists in financial literacy. They believe that the skill of handling money is no less important than the ability to write, you just need to get the right approach to learning.
And this means: to give the child regularly small amounts, regardless of his behavior; teach ways to accumulate; discuss and analyze with him his (and you can also your) spending; strictly adhere to the days of "salary" (so that the child who quickly spent all his pocket money would have to wait for day X).
When to start? It is possible just from those very 6 years - the age when the craving for independence is activated and school life begins with all sorts of temptations in the form of buns in the buffet and chocolates in the vending machine.
How much to give? Here, of course, it all depends on the capabilities of the family, but a good guideline would be the "arithmetic mean" that your child's classmates receive. It is important that against their background the child does not feel deprived, but also does not flaunt exorbitant spending. Should I pay for good grades or washing dishes? Absolutely not.
Studying, doing homework, doing housework - things that should not be stimulated in this way, it is his responsibility, and monetary motivation will only hurt. But something non-standard (digging up a bed for a neighbor in the country, fixing a computer, creating a website, etc.) may well end in monetary rewards from an adult customer.
AT A LOOK
On 200-ruble bills you can find leaves of oak, eagle-owl, roe deer and starfish, and on 2000-ruble bills - planets, rockets and even an astronaut. This set is perfect for kids' first acquaintance with money. Give them other bills in their hands, asking them to find all sorts of interesting details on them. After that, it is quite logical to move on to the story about the degrees of protection and the difference between genuine money and counterfeit ones.
At the store, hand your child a calculator and ask them to tell you when the amount you have typed in the basket reaches 1000 rubles (or another amount with which you came to shop). This will give a real idea of the price of products and the finiteness of the monetary resource. At the same time, it is worth showing that similar products can cost differently, but you need to choose a good one at an optimal price.
SHOCK AND AWE
Children who are familiar with the basics of mathematics can be asked to calculate how much money a family loses from an unclosed tap or a light constantly on in the bathroom. The received amounts can be "converted" into things that the child can understand - sweets, toys, apples, ice cream, etc.
LEARNING ON ERRORS
Do not scold your child if he wasted money that he was saving for something important. It is better to count with him how far he has delayed the achievement of the goal, let him draw the correct conclusions himself.
Denis Mikhailov, Head of the State Budgetary Institution "Mosfinagentstvo" of the Moscow Department of Finance:
- Children learn about the world and adapt to it by studying the behavior of those around them. In preschool and early school age, these are most often parents. Therefore, the child's ability to get used to the modern financial world will largely depend on how confident parents feel in the world of finance, how they instill their knowledge, skills and habits in children. For example, Europeans approve when children independently save pocket money, which they receive from relatives or earn it themselves in adolescence. The British consider that the minimum age for starting part-time jobs is 10 years, the Germans consider it possible for children to start working part-time from the age of eight. They also strive to teach children to manage their personal finances at an earlier age. Most Europeans believe that money should be given to a child at an average frequency, for example, once a week, believing that this will encourage children to plan and save money to buy the desired things. Whether to follow the experience of "enlightened Europe" or to develop your own methods of financial education of a child, you decide, the main thing is a competent attitude to the personal budget.
Ilshat Yangirov, First Deputy Head of the Central Administration of the Bank of Russia for the Central Federal District:
- It is the parents who by their own example can teach the child how to handle finances correctly. It is necessary to form in children a reasonable attitude to money, because money is just a means to an end, and not the end itself. You cannot do without them, but they should not become the only life guide.
The Bank of Russia takes an active part in the development and implementation of educational programs for different audiences; there are also games for preschoolers. The training course “Fundamentals of Financial Literacy”, developed with the participation of the Bank of Russia, has been introduced into the school curriculum. During its development, the most interesting modern practices of teaching financial literacy were used, which can lay the foundation for real knowledge of schoolchildren.
Our task is to teach children how to properly manage money, correctly assess all the factors and risks. The financial skills acquired at a young age will allow making informed financial decisions in adulthood.