How would you teach value of money to your kids?

[nomad]

Kids need to learn the value of money early on. They should now you have to work hard to make money, and money is too precious to be wasted on none sense things. But the question is how do you do that?

 

[Suba]

We all need to teach children about the value of money, especially about economic indicators, effectiveness and efficiency, to prevent waste, such as teaching them to save in piggy banks, inviting children to shop and choose cheaper shops.

 

[Etini Willie]

I would let that child know that the only way one can earn money is by offering value to the marketplace. That I would demonstrate with small monetary rewards for helpful tasks the child does.

 

[Shavkat]

During my childhood years, my biological parents give me and my siblings our own piggy bank. They taught us to save a part of our allowances and buy whatever we desire at that time.

 

[Etini Willie]

During my childhood years, my biological parents give me and my siblings our own piggy bank. They taught us to save a part of our allowances and buy whatever we desire at that time.

My mom on the other hand would take any money my uncles and aunts gave to me, they would give me a part and putting the other part in the piggy bank. It is good parents help shape the financial consciousness of their kids.

 

[You]

I'd start by explaining the concept of earning and budgeting, and encourage them to save a portion of their allowance or earnings from odd jobs.

 

[cherry123]

It is to make money for their luxuries so that they get to appreciate the little things that I do for them

 

[Kera]

You start giving them money and guide them on how to spend it. You tell them how to identify the things that are wants and needs. It starts with having a solid relationship with them first.

 

[Sawe]

I will teach my kids the value of money by not always giving them what they need. I will teach them to earn it. If you want a video game, do well at school. I can also give them some money for doing house chores and ask them to save up for something they want to buy.

 

[Golden9]

It's good to start when they are still young. The most common practice is to put them on a weekly allowance, then guide them in spending and saving it.

Gradually, they are them taught about how to earn more from their savings.

 

[Starmix]

If I have a kid, I'll teach them how to save money and never buy things not essential.

 

[Hate2Wait]

We can play games with them to make them learn about the value of money like my mom used to motivate me to save all the time

 

[eldavis]

I will try my best to do this by teaching them how to save, and how hard it is to make money. Making them learn skills will also be a good way to do this.

 

[freelancermaria]

If I decide to have children, I plan to teach them about the value of saving. I intend to give them piggy banks to encourage them to save money. It is essential to me that they learn to manage their finances from a young age.

 

[Kerryjoy]

By first, letting them know the value of money and how it is gotten, then start teaching them on how to save.

 

[Hate2Wait]

We can make kids aware of the value of money and savings and this can be taught by playing games with them and make them aware of the value of savings