Parents’
worst fears are that their child will grow up spoiled. The fear strikes at the heart of one of the
most challenging and baffling parental topics to teach: money. Teaching kids about money is, at root, a
values issue. It’s more about teaching
priorities and proper way to live. Here
are some ideas on teaching children the value of money:
·
Manage the allowance
·
Do not tie allowance to chores
o
It will break down once the child decides she would rather skip the
chore and forgo the allowance.
·
Fostering entrepreneurial spirit and work ethics
·
Teaching about needs versus wants.
·
Wait for things
·
Explain household income to children
·
Model good financial habits yourself.
Shared article by:
Gregory Karp
Family, Star 2
Friday, 6 March
2015
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