Many parents are engaged in this issue, because it is extremely important to teach your own child how to treat money correctly. Why? If your child does not understand the value of money, you run the risk of a debt spender who will never be successful or independent.
Why don't kids value money? They simply do not know what it is, how much effort it takes to purchase another toy, clothing or food product. Nobody tells them about this, and they take all purchases for granted and are surprised when there is no money or when they are not given money.
A child will only begin to appreciate money and things when he spends some energy, invests some effort and performs some actions to acquire them. Of course, this does not mean that the child needs to earn everything for himself. But, nevertheless, if you teach a child to make some efforts available to him to get something, he will be able to radically change his attitude to spending money.
One of the most famous and most reliable ways to add value to money in the eyes of a child is to involve him in family planning. Let your kid also see that some of the money earned goes to utilities, clothing and food. And, if suddenly after such a distribution there is no money left for pleasure, ask the child what he can do to make money appear. For example, is he ready to eat less, not go to the toilet at night to save electricity? Let him think about how he can correlate his own desires and family income.
The second interesting way to help your child value money is pocket money. The most important thing here is to discuss all the conditions in advance and give your child a choice. Discuss with the child all possible purchases, that is, everything except alcohol, cigarettes and other "bad things", and ask for a detailed report at the end of the week about how much he received, when, how much and on what he spent. If there is a report, there is also money for the next week, and if there is no report, there is no money either.
The third option is most pleasant - give the child pocket money for a week, but talk to him that all the money saved by him until the end of the week will double. That is, everything that remains at the end of the week from pocket money will eventually increase by 50%. This way your child will learn how to save pocket money for something bigger. He will have a certain choice: spend money on something smaller and cheaper, or save, endure and increase money. If he cannot save, do not scold him, but explain that in this way he simply postpones the acquisition of the desired toy for an indefinite period. As a result, the child will decide for himself what to do.
If the child immediately spends all the pocket money on the first day, discuss with him why it happened that the child did not take into account. Explain how you could behave and empathize with him, but never offer him financial compensation.
The most important thing in such upbringing is to make the child feel responsible for his pocket money, because they are not a salary, they are not a way of punishment and reward. Pocket money is a tool that helps a child manage finances. In addition, it is extremely important to show that financial success does not depend on salary, but on how to manage the money earned. So in order to manage money, it is necessary to save it, which is not understood by all adults, but remember that the mistakes of mom and dad should not prevent them from raising children
