Teaching of value of money.

My son can not recognize the value of money, because I never taught to children. But now, I started to teach my children about the value of money. At first I was confused, how do I teach my child. I teach my children, by introducing some amount of money to my child, then I often take my son, spending my children's needs. Now my son has not quite understand, but it was enough to understand.

My daughter is now getting to the age where I think that it is important for her to learn about money. I give her a set amount of money every week for her breakfast and lunch at school and there is a little bit extra where she can choose additional things from time to time if she would like. In addition to that, I've given her a list of chores to do so that she is able to earn some money of her own and she is trying to save it so that she can buy her own Nintendo DS. I won't buy one for her because I really don't think that she will respect it.

hi doctordidi even toddlers can help and want to so start young giving them chores and for older kids give them some spending money each week as long as they did certain chores,dock a little from the money if they neglect a chore. as they start towards the teens they will want things so suggest a part time job or tasks they can do at home that you will pay them for and suggest once they have a parttime job to save a little and make a savings account in the bank for them.you start young imbuing them with the idea of the value of money and spending and savings.

What my father would do with me is give me $12.50 every week. What would happen then is I would have to pay for my breakfast/lunches with that money at school. There was enough leftover after all of those expenses for about $3.00. That was enough for three ice cream sandwhiches or a related treat per week. It took a while, but in the long run and through determination I learned how to conserve and learned how to spend. The harder part though is on the parent I believe you have to be firm about that is all the money you are getting and if you spend it on something useless than you can't help them.

This is basic, simple way, make them work for their own money. DOn't give them pocket money that easily, let them earn for it such as doing some housework at home, or tipping them as a form of reward when they do something good. There are times kids will misbehave and that's the time to fine them. Let them know the heartache of losing money when they have saved up so long for something, only to see it gone in a minute.

Be a living example. =)

When I was growing up my parents didn't teach me much about money. When I would ask they would avoid the question or toldly ignore me! So I have learned the hard way with money and still am learning! My advice is tell the childreen! Answer their questions! If you can't go on line and find what you need to know! I wish I had excess to a computer when I as a kid! I would of been able to do reseach my about money myself and would not have to deal asking my parents!

Some children get a weekly allowance, or weekly pocket money, when I was younger I didnt get a weekly allowance for doing nothing, but I did get some pocket money for things I did, such as helping my mother with housework. I think that helped me realise that you dont get money for doing nothing. Also my parents were (and still are) the type who watched what they spent, they wouldnt go out and buy things they didnt need and would say things like "we're saving money for ___", so I had an idea about saving money for big things. Now Im very much like my parents and like to try to save as much as I can. I really wish that they had lesson's in school teaching children how to budget their money, as right now there is a lot of people in debt, so if they had the odd lesson in budgeting maybe this would help them a bit more with their money when they are older.

From what I believe, the best way to let your child understand the value of money is to let them learn to earn money, do not simply give them a lot of money without let them put in some effort. and from there they will know that to earn money is not easy and they have to work to get money. The other way to teach them to save money is to train them to save money, one of the way is to ask them to save at least half of the pocket money everyday and if not they will not get pocket money for the next day, from there, you can train them to save money.

I was trained by my parents to value money when growing up. At the start, I really never understood why, but as I grew and until now I understood why my parents made me learn the value. Well, I do see more and more kids not learning the value of money at present time. But, the thing is, it solely depends on how their parents train them. A good way to make them learn the value of money is by not giving them what they want really quick.

I too had household chores the children has to follow so making sure that when they did not do their chores they lost out on their weekly allowance. Anytime they wanted to buy something and did not have enough they had to wait until they did. This way they understood how much things cost and the value of buying them for them self. I never went against my rule as I did not want them to rely on me being easy to get things for them. It does teach them responsibility with money later in life. I do like mysdianits response in box one I feel that is the route to go.

I agree that pocketmoney is a great idea, and also teaching kids to save really helps. And paying them for special chores that they do not usually do maybe. My parents did all of this for me when I was a kid.

To let our kids to understand the value of money from their childhood is by mentioning the hard times of earning money all the while. No matter what I have seen, I shall explain about the difficulties of hawkers, retailers and so on in earning money to my kids on the spot. I shall minimize their pocket money and try to educate them the good habit of saving money.

I tried teaching by introducing them to online games that require them to accumulate funds to purchase tools and weapons but I don't think it is working.

When my son was young I gave him 'pocket money'. He would have $5 a week (well they were lire then) but if he wanted to have the whole amount there were certain rules that he had to abide by, For example, it was his job to take out the rubbish bag each morning and to set the table for our evening meal. Sometimes he would be 'too busy' so I would fine him Eah time he did not do one of his designated chores he lost 10 cents from his 'pay'