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Your Child Is Now Ready For Some Everyday Transactions

Team AckoDec 16, 2025

At this point, the concept of money is not new to your kid of 7+ year old child. At school, teachers would have introduced them to the basic denominations of money– notes & coins. But they are yet to get the hang of the different other denominations and how the smaller value coins make up a rupee or a hundred etc.

What you need to know

The pre-requisite for this of course would be decimals. Once the children understand the concept of decimals then it would be easy for them to understand the lower denominations and the parts which make up a whole. The value of the money comes to their mind only during the later stages. But you can start developing the habit of saving during this age.

Your kid now will have an idea that everything you buy requires money. Enhance their understanding of money as you take them to buy groceries, fruits/vegetables or shopping. Focus their interest when you pay cash and receive change. They would definitely understand as they are now familiar with the addition and subtractions.

Financial Planning: Key to Your Child’s Optimal Growth

Your child's all-round development combines formal education and creative activities. Mosaic art, for instance, develops hand-eye coordination and boosts confidence, which are the precursors to intellectual and emotional development.

Just as nurturing your child’s growth requires attention, securing the future involves proactive financial planning. Term insurance will provide your loved ones with financial protection for unforeseen emergencies. Considering the rising living costs, choosing a 1 crore term insurance plan will ensure sound protection.

When deciding on a life insurance plan, use a term insurance calculator to estimate the right coverage and premiums and always choose a plan that guarantees long-term financial security.

Contents

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Disclaimer: This content is for informational purposes only, based on industry experience and secondary sources. It is not a substitute for professional advice. Please consult a qualified expert for health or insurance-related decisions. Content is subject to change, refer to current policy wordings for specific ACKO details.

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