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Teaching a Child what a Dollar Represents- Building Financial Skills

By Edited Nov 29, 2015 1 2

If children get cash without understanding what is involved in earning it, they will behave as though money grows on trees. No one is perfect at handling money but if we understand how much it is really worth, we will be more conscientious when spending it.  

Explaining money for kids (cartoon)

It is important for young children to learn about the value of money from early. Your perception of the worth of a dollar depends on several things. However, I think many people can agree that part of the value of a dollar depends on how hard you had to work to earn it. 

What is an Investment? Lessons in Money for Kids!

Children should be given opportunities to earn money from early in life. That will help them to understand how much work goes into generating the cash that they are quick to ask for when they want something. 

Younger kids sometimes want new jewelry while older teens may want to take a ski trip with friends or get a car. If they just get whatever they want when they want it, they won’t be able to adjust when they reach adulthood and have to earn to provide the things they freely enjoyed when parents were there to pay for those things.

 

You can give children the freedom to earn cash around their community by helping neighbors get certain tasks done. Let your neighbors know that the rate they set should be in line with the regular fees that are charged for that type of task. You don’t want kids thinking that anyone can easily earn enough to live on by just raking up a yard once a week.   

 

If possible, allow teens and younger kids to use their talents to earn. For example, if you have a child who is really good at making salads, perhaps they could start a small business providing healthy salads that adults can take to work with them. They will learn several lessons from that experience, including the fact they can use their own God given gifts to start a business.   

 

Summer Jobs for Kids

Money Doesn't Grow On Trees: A Parent's Guide to Raising Financially Responsible Children

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Comments

Aug 31, 2013 12:58am
askformore
Thank you for tips about: How to teach kids the real value of money
Sep 2, 2013 1:26pm
Nikon
You're welcome Askformore.
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