How do you teach young kids the value of money early, so they know it doesn't grow on trees?
When I was younger I was lucky to be well off enough where money was never a problem, maybe because I was always independent I yearned to be able to satisfy my own needs as soon as I could work finances included. I think it came from my parents giving me just enough, sometimes they would spoil my brother and I but we always had to earn it. For example good grades in school provided not only self satisfaction but money per grade. If I wanted money to go out I had to do a chore or help out around the house first. So as I got older when I was old enough to work I always wanted to be able to do it myself and that is one lesson Im really glad I learned to this day has been one of my biggest strengths, my bills are always paid on time because my management skills are great and I learned early it means a lot more when you can provide something on your own behalf than have someone just give it to you. A lesson that not only helps teach the value of money but also what the benefits of being a hard worker are.
If you want to know how to teach your children the value of money, and make sure they learn that money doesn't grow on trees, this is the article you need to read. Teach your kids to be financially responsible by reading this now.... read more
In my opinion, giving kids an allowance should be something you either do or do not do, depending upon what the family can afford.
In any case, I do NOT believe an allowance should be tied to chores, because even though adults must work (do chores) for a living, that can be seen by and explained to kids...and kids are not yet adults, so the same should not be expected of them.
I think kids should be given chores and expected to do them, with consequences for failing to comply unrelated to allowance, but have some other penalty, such as being put on restriction, or not going to an event they thought was "all sewn up."
Family always comes first, and you do for family because they ARE family, and every member should help every other member, and that includes extended family such as grandkids and cousins, if they live nearby.
There are far too many kids today who would rather go 'hang with their friends,' than give grandpa some help raking leaves, or a pregnant mother with a heavy load of laundry. And if they help with these chores, it is begrudgingly, or with a "what's in it for ME?" attitude--translated as, "How much will I get paid?" You get paid in love, and mutual respect and cooperation, kiddo.
For when the chips are down and all your "friends" and acquaintances have dropped you like a bad apple, family is all you have left. Make them come first.
by Leah Kennedy-Jangraw 7 years ago
What are the most important lessons to teach young children?I think respecting elders and saying please and thank you are critical. What are some other little lessons that are so important for us to pass onto young children today?
by dashingscorpio 2 years ago
If your child blew their $90k college fund would you use your retirement money to help?Recently a 22 year old young lady called into a radio station looking for advice. Her grandparents had set aside a college fund of $90k for her. She's now in her senior year and has no money left. (She blames her...
by websclubs 9 years ago
what have you learned about the value of money?
by And Drewson 8 years ago
Considering that people can get credit cards so young and that college tuition is going up about 20% per year, I think that young people are starting off handicapped.What do you think?How do you try to pass along good spending/saving/investing habits?
by Christopher Wanamaker 7 years ago
What are some easy ways to teach young children the value of a dollar?
by retellect 7 years ago
Why should we teach our kids to budget properly?
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