Teach Your Children about the Value of Money
Teaching children at a young age to value their money is an essential task as a parent. The way that a parent deals with money, is the attitude that their children will develop towards money as well. It is extremely important to enforce upon your child the notion that money doesn’t grow on trees and that is must be saved. By teaching your children at a young age how to save and invest their money, you are giving them the tools to be responsible and savvy with money.
“But Mom I need it!” I’m sure most parents hear this each trip to the store. Young children figure that everything that they want is an absolute necessity. Children must be taught the difference between wanting and needing items. One way to teach this difference is to take them grocery shopping and have your child choose items that they need and items that they want. Something that is recommended when teaching children to value money, is to give them a small weekly allowance of no more than $5.00, and in return your child does a certain amount of chores to earn this money. This reinforces the fact that money is earned, and that hard work is rewarded.
Everyone remembers their piggy bank that they filled with coins growing up, but did it teach you that spending was not the only way to use money. I have come across a new type of money holder that helps kids use their money more wisely, and it’s called a Moonjar. This container is divided into three units labeled Spend, Save, and Share. This gives parents the opportunity to teach their children all of the different ways that money can be used. By saving their money, kids can learn patience by saving up for that new toy. By having children save up their own money it makes them think twice about quickly spend all of their money without a blink of hesitation. Also, with the Moonjar, children have the opportunity to share their money, or donate to charity or the less fortunate. This teaches children that nothing is free and that all of their luxuries such as food and electricity have a price that not everyone can afford. This will help instill some empathy. The Moonjar can be purchased at littlezenminds.com, for you children to learn the different ways that money is utilized!
Money is sometimes a difficult topic for children to understand its importance and using teaching tools such as the Moonjar makes it easier for children to understand . Therefore, it is important that at a young age children are learning that everything costs money. There are many different ways to teach your children how to value money, from allowances to making them buy that new toy that they want. This will show them that money is earned through hard work and that it should be taken seriously.