You can start teaching your child the value of money by giving them a kid's wallet. Boys and girls both love to have their own money and a place to keep it. Many kid's wallets have a Velcro closure to ensure that the money stays safely where it was placed.
Choosing the Right Kid's Wallet
Matching the right wallet with the right child is usually a matter of style. Younger children enjoy bright colors and cartoon characters, while older children like a more mature grown-up style. The right wallet will match the child's age and sense of style. Choosing a wallet that the child doesn't like will often cause them to not carry it.
Personalizing a Child's Wallet
Once you purchase the kid's wallet help them to fill out the "information" insert that should come with it. Having this information will not only cause the child to feel connected with the wallet but if the child should get lost they will have a home phone number to call.
If the wallet contains a photo insert, let the kid go through all the family wallet sized photos to choose the ones that he or she would like to carry with them. Photos of family and friends will give them something to look at when the wallet is empty of money.
Give the child a few dollars with the new wallet. This will help the child to learn what the wallet is for. They will also take better care of a wallet that has money in it than one that does not.
Cool Kid's Wallets for Boys
Wallets for boys are usually rough and tumble in nature. Superheroes, favorite sports teams, and cartoon characters are always possibilities for younger boys. Older boys might like some sort of faux exotic leather wallet. Crocodile or Snakeskin could really grab their attention.
Cool Kid's Wallets for Girls
Young girls frequently like Barbie, My Little Mermaid, and any sort of princess character that they've seen in movies or on television. They may also want a purse to carry the wallet in. A purse with a zipper will be less likely to get dumped out than one with snaps and buckles. Older girls, like older boys, who have grown out of the cartoon stage might like something a little more grown-up and sophisticated.
Learning to handle money is an important life skill for children of all ages. Waiting until your child is older might seem like a good idea but starting them young will help them to learn the value of money. Once the child understands the function of the wallet you can introduced a few budgeting lessons. Children need to learn that they can buy a bunch of little things early or saving money for a larger more expensive item. Like adults they need to learn that once the money is gone, it is gone for good. This is a hard lesson to learn but it is an extremely important one. These early money lessons will last for a lifetime.