Tips & Tricks

FINANCIAL TIPS AND ADVICE

Open a bank account: this will help you learn how to manage your budget.
Always keep your pin number, delivered to you with your card, confidential.
Memorize your pin; it is safer than keeping it in your wallet or in any other place.
Always keep your account balance positive, keep at least LBP 100.000 in your account for emergencies.
Open a savings account with the help of your parents.
If your tutor is taking care of your account, keep track of all activities.
Earn your pocket money by offering services around the house (tidy up your room, place the dishes, water the plants).
Save up coins in a penny bank.
Save your money for a goal, so you have something to look forward to.
You can put together significant sums by saving cash gifts.
Use your pocket money intelligently. Prove to your parents that you are a responsible spender, and they will increase your pocket money.
Organize your expenses depending on your pocket money, this is called budgeting.
Register yourself at the school library to access free reading.
Save a small amount of money from your weekly allowance. With time you will have a considerable amount.

General tips and advice

Remember how to be safe when you are on your bike. Wear a helmet and wear bright clothing and don’t ride on highways.
Reading books will help improve your language and writing skills.
Organize yourself: finish your homework and then go play with friends.
When you play outside the house, be sure to take your toys and other things back home. You don’t want someone to take them if you leave them out.
If you’re playing at the pool, don’t run around the edges, and don’t dive into shallow water. Be careful!
Never play with the kitchen gas: fire can cause major injuries.
Never swallow medicine without the approval of your parents or the doctor.
Don’t sit close to the TV, it might cause eye problems.
Ask your parents for permission before going anywhere. Call to tell them when you get home. If your parents know where you are all the time, they'll know where to look for you if they need to.
Be careful around strangers. Never go anywhere with someone you and your family don’t know.
If a stranger knocks at your door and you’re home alone, don't open . Learn how to lock and unlock all doors and windows in the house.
Be safe in your neighborhood: stick with your friends and watch out for cars.
Memorize your important phone numbers: your mom’s or dad's work phone, cell phone numbers and the phone number of an adult who lives nearby and can help you quickly in an emergency. If you have trouble remembering them, write them down and keep them in a safe and accessible place.
If someone calls while you are home alone and asks for your mom or dad, say "They can't come to the phone right now" and ask to take a message instead of saying that nobody is here.
Don’t disclose any personal information to the people with whom you are chatting online.
Create a nickname for your online profile so you don’t have to give out your real name.
Never try to meet somebody you have met online on live chat rooms or social networks.
Don’t download online files without your parents’ permission.

Parents Corner

Providing an allowance is the best way to teach your child the value of money: he has to own it in order to manage it.
Make sure the allowance you give your child makes savings easy: it is better to give him ten USD 1 bill instead of one USD 10 bill, so that a portion can be set aside.
Open a savings account for your child at an early age or whenever you feel necessary.
Explain to your child where your money comes from and how you earned it.
Play games with your child that stress on the value and use of money, like Monopoly.
In addition to an allowance, provide your child with the opportunity to earn more when doing extra chores around the house.
Teach your child that with money comes responsibility: encourage him to dedicate part of his money for charity or donations.
Teach your child the difference between needs and wants: explain how you make your decisions about various purchases.
Invite your child along to your bank and explain to him how banking transactions are being carried.
Be an example of good money management: it is the best financial education they will ever get.

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