How to Teach Your Kid the Value of Money

Times are hard, and everyone is feeling the crunch. Adults, well most of them anyway, do not have a problem saving their hard-earned cash. Children typically have no idea about the value of the cash that their parents worked so hard for. But even at this early stage, children can be taught about the value of money. To educate your kids about cash, take note of the following tips:

  • Keep your child away from the mall as much as possible

Parents nowadays are fond of bringing their kids to the mall. It's like hitting two birds with one stone; they can shop for themselves and let the kids have fun looking at stuff. But kids won't just look at stuff; they will want to buy what they fancied. To keep your kids away from the temptation, plan alternative activities for them, activities that won't cost you a buck. You can take them to the park to play with other kids, or you can go to the public pool and have a refreshing afternoon swim.

  • Learn how to say no

The instinct to give your child what he wants is strong, but you have to summon the will to say no to your kid, even if this means letting them shed a tear or two over it. This is the only way to let them know that they can't have everything they want, and that mommy and daddy have to work hard to buy the stuff for them.

  • Compare prices with your child

Let him know that the stuff that he wants to buy have a price, and not all prices are the same. Show him that you can buy something that will cost less than what he originally wanted.

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