Value of money
Today’s topic is very crucial for kids and even for adults. Money has been an important factor in our lives. We work hard to earn money and with that money, we buy our necessities and then luxuries. We earn money and so we know how much to spend that will be filled up again next month. But how will our children know this? Are we teaching the right value of money?
Well, I guess each one of us has a different set of examples to give it to their children. I have also shared some of the points here. Let’s see how much you agree with me:
- Firstly, there is a different theory for different age groups. What I teach my 9-year-old may not go well with my 4.5-year-old. So there has to be a different language for both of them. And my preaching goes with the elder one because the younger one just copies his sister blindly.
- The most important fact is to explain that money is important for many things in life but not all things. Yes, money buys many luxuries but not love and emotions. That can be grown in a family only. When there is no money or less of money then it is this family only that bonds together and makes you strong.
- Every family has different earning power and different spending power. What others are buying is not symbolic that we should also go for that. When my daughter says that most of her classmates have an I Pad, I only tell her to be thankful what all she has. I tell her that I don’t think she has become responsible enough to maintain an I pad. When time will come she may have something much better and more worth.
- Teach them what is a necessity( a thing without which you can’t work) and what is a luxury ( a thing that is for pleasure or you can be without that thing). Everything a child says cannot be bought. They have to make a choice which one to go for.
- I tell my daughter to tell me what she needs beforehand only. Then I tell her that I have made a list of all the things in my mind. Now when she does something good or remarkable, I will get her one thing from that list and this will go on forever. But at the same time, when she misbehaves I make it a point to take away a thing also.
- Remember that your children watch you then listen to your preachings. You can’t be like one and preach them to be like another. This way they get confused and will revert back.
Some things go well with one parent and the other goes with another parent. This is called experimenting with parenting. This is an ongoing process. I hope these tips are helpful for you.