If you want to teach your child how to save money on their car, you need not look any further. Below you will the five best ways to teach your kids how to do this. While there are other ways to make this happen, the five suggestions that follow are the sure-fire ways to help your kid accomplish this.
1. Lead by Example
What are you waiting for today? Your child will not ever accomplish this if you do not finally get the ball rolling. Your kid will also be excited to see that you want this to happen.
To help you make it happen, you should start by making a list. Maybe you should jot down these tips or bookmark them. While the following four suggestions are not in priority order, you should consider your time constraints, talents and the age of your child. You know what works best for your kid, so you know best how to make this happen.
2. Teach and Highlight Importance of Car Maintenance
Now that you know the most important tip, another suggestion for you is to teach your kid car maintenance. Is car maintenance not your thing? Why not invite a friend over or relative over to teach your child? Someone can show your kid how to take care of a vehicle.
If you are going to handle the instructions, start by teaching your kid the basics, like knowing when to check and change their oil. You can do this at home. You can even start this out at a very early age. Activities that even the smallest child will enjoy can pay off down the road. You can let them apply oil change sticker reminders on your windshield. You can purchase them at mom and pop shops, and you also can buy oil change stickers online, too. An older child can get more hands-on with you in learning the ins and outs of car maintenance.
3. Enjoy Time Together Washing and Detailing You Cars
At the earliest age, your child can learn to understand how responsible it is to take care of the exterior and interior of a car. This is a lesson they can carry with them for a long time, and you will definitely help them save money. Taking care of your cars at home obviously saves money that might normally go toward washes and details. A dirty car can also cause the paint to peel away, rust to develop, filters to become clogged, and all kinds of other problems for your kid.
On a Sunny weekend afternoon why not you and your child go outside and wash your vehicles? You might even finally be able to introduce them to your favorite band. Teach your kid to regularly wash and detail their car. Your child will absolutely be able to save some money.
4. Enrollment in Driver’s Ed for Insurance Savings
You can help your kid save through lower insurance rates if they have completed driver’s education classes. There might be some debate on this out there, but don’t you think 15 percent on average off the total premium is a good idea? You are teaching your child that every penny counts. You know that they do.
Another benefit of driver’s education is your kid’s safety, of course. It is unfortunate that some drivers do not purchase the required insurance. Did you know your child can be sued if they injure an uninsured driver? After paying out the settlement fees, your kid will be faced with even more burdensome expenses, which includes the costly repairs to your child’s own vehicle.
5. Relationship Establishment with a Banker
If your child is a car owner, then you must be sure they have a relationship with a banker. Relationship establishment with a banker is very important for anyone that is a car owner, and that includes your kid.
Who should your child turn to should there be an unforeseen expense that occurs relating to their car? You obviously want to teach them not to turn to you for every need. A good relationship with a banker will help your kid with all aspects of their life, and that most definitely includes car financing and car maintenance.