How to Teach Your Kids the Value of Money
When You Have Money Issues - Think of the Kids
Sometimes when kids sense the distress their parents are feeling, the kids also show signs of stress. Children are adept at picking up tension in the home. Financial stress can cause marital problems and other issues within the family. Trying to save money can become an arduous task when making ends meet is tight. It is important to address these issues head on with your children. Be honest with them, while only sharing only what they can handle. You want to be careful not to overburden them, or tell them more than they need to know.
Save Money and Create a Good Atmosphere for Your Kids
Teach Your Children Values
Kids have a resiliency factor that is better than adults have.
- ask them what they know and what they think they understand
- address the issues honestly, and age appropriately.
- discuss what they might understand about the economy keeping in mind teenagers watch and read the news, younger children have a different understanding
- listen to their concerns and try not to influence their interpretation through your own anxiety
- ask your children their thoughts and straighten out their own misunderstandings
- pay attention to changes in eating and sleeping and socializing habits
- comfort them and ease their fears
- make time to have fun with them so you reduce stress for them and you
- spend time to reinforce family values
- use these lessons to teach them to save money for their own future needs
Sometimes the economic conditions are a good way to help your children keep a perspective on the materialistic things they want. It is always a good time to teach kids about budgets, how to save money, and to curb expenses. Remind kids to turn off lights, not waste water, food, and to realize the value of a dollar.
Teach Your Kids to Save Money
Teach your kids to save money in a piggy bank and a savings account. Showing kids how to save is one third of the value. It is also important teach kids to be charitable, to give money to others who may need more than they have. And it is important to let kids spend a portion of their own money on things they desire. In spending, they can learn to save, and learn to think about the value of what they are buying. Is that video game really worth the money? Prioritizing spending is an important life lesson.
We would like to think that childhood is a time of carefree days and shelter from the hardships that life sometimes imposes on us. We don’t want our kids to grow up too fast, but sometimes things happen that we can’t protect them from the harsh realities. Kids have an amazing bounce back ability. They are able to adapt well to situations and show a resiliency to stressful experiences. This resiliency will help them adjust, but their feelings and difficulties, sensitivities, and fears need to be acknowledged.
Look for the Fun in Saving
- Get a DVD from the library for free (provided you return it on time) instead of taking everyone out to the movies
- spend the day at a local park and if the weather is good, bring along a picnic lunch
- make up your own local tour ~ sometimes neighborhood businesses will give a tour of their factory or store. Go to factorytoursusa.com to see who gives behind the scene peeks of their businesses
- if you need a dinner out, try ordering an assortment of appetizers for the table. You may save some money and enjoy the different selections of food, and your bill will be lower
- take a vacation with another family you know and rent a condo instead of a hotel room. Splitting the cost, plus it comes with a kitchen can make family vacations cost considerably less
- try to arrange a group of family and friend to go to a museum or a zoo and get a group rate
- bring your own drinks and lunches when you go on outings
- remember your memberships like AAA, Costco, BJs, and if you belong to a union can get you discounts for some of the things you might want to do as a family
Use Coupons Where You Can
Create a Psychologically Healthy Environment for Your Family
Create a healthy environment for your children to deal with the unpleasantries and difficulties of life so they will be able to deal with other stresses effectively as they get older. Spend valuable time with them by taking walks, playing games, doing a craft, washing the car, or cooking, or even fixing something together. Do things that have meaning and create a bonding experience,. one that will overshadow the economy and acutally create positive memories. Long after the monetary woes disappear, your family can come through this stronger, better, and with the feeling that together you and will get through anything. Have the strength, the belief and the positive attitude that good things are on the horizon. As the parent, be a good leader, be proactive, and use your abilities to get through tough times. Use these times to teach them the importance of trying to save money when you can. Create a psychologically healthy environment for your family and your rewards will be great.