Does your child think money grows on an ATM? Here are some ways to help him learn the value of money:
- Give your child a piggy bank. Put money in to save for something special. Explain that your bank is just like the piggy bank. When the money’s gone, there isn’t any more until you get paid again.
- Give your child a small allowance. You decide what’s right for your family. But make sure it lets your child make choices. If he buys the toy he wants, there may not be enough to get candy at the store.
- Offer ways to earn a little extra spending money. This helps children see the link between work and money.
- Help your child set up a savings plan. How much does that computer game cost? How much does your child have to save each week to have enough to buy it?
As you teach your child about money, you are also teaching about values. Your child will learn to work for what he wants and how to make a plan and then carry it out. These values will help him in many areas of life.
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