what do you think children need to learn about the value of money?

hi rahil thkr, I agree with you that children need to start learning young about the value of money and that it does not just grow on trees. Being a single mom and pretty poor, my two oldest girls seemed to grasp the concept much quicker than the two younger ones. That was in part (or entirely) my own fault. We are still poor but nothing like back in the day and it felt good to be able to do for them, things that I could not have done in the past. My 15 yr. old had the silly notion that hair products and mascara etc were necessities! She is learning and I have learned to not just go and buy her these things each time she claims to need them. She has an allowance and has learned to prioritize and even save some. One thing that I did with all my girls is to show them our household expenses and also show them my net pay. They did up budgets where they were to pay everything based on our income. With my oldest, I went so far as to let her do the grocery shopping for a week. Don't do it! Still, having them work out the budget on paper was an eye opener for them. I don't think we should protect them from the realities of these things. Rather it is our job as parents to teach them to be responsible and independent and learn to set priorities.

hi rahil..i totally agree with you..children should be taught the value of money..but i think most of the times parents only spoil them..i mean they don't want their kids to go through all the pain they themselves have felt or they don't want to break their childs heart by not providing their wishlist..if parents value money, child will learn to do the same automatically..

I let my fourteen year old son to do household and garden jobs for me. I pay him so it it will teach him about earning money. He took up the decking in the garden and assembled some new furniture. I know he is saving up to buy a gaming computer. So far he is doing well saving up at a steady rate. I think that it is valuable for young children of three years old upwards to play with a toy shop with real or play money. I am a primary school teacher. One time I gave the children 1 pence, 2 pence and 5 pence coins to work with in their toy shop. I suggest that older children could be given pocket money and then they could buy things. Then they would learn how much things cost. I know that after age thirteen a child could do a paper round in my home country. It is be so lovely to get a child really knowledgeable about the value of money. Knowing about earning money and budgeting plus saving are important life skills when a child grows into an adult.

You are very right indeed. It is very important for children to know the value of money and that money should be spent wisely. They should learn to save and spend only for those that they really need. By learning this things I am sure that they will grow to be a great person and most likely they will succeed in life.

For me I'm very much agree because me in our family when I was a child my father want to know in us that the money is not easy to find even if were young they want us to be responsible so he don't regret for now because we don't live now in our own income.

I think that's a good idea. Children should know how hard to get money, so they can appreciate everything they have which is bought with money. And if they know it since they were a little kid, i'm sure when they grow up, they will not be a spender. Its a good education for kids to know the value of money since their early age.

Children should be taught about money starting at a young age. They should be taught the importance of saving money. Unfortunately, the educational system here in America teaches very little (if anything) about money management. People need to learn how easy it is to make your money work for you, instead of only working for money. A good place to start in gaining this knowledge is to read the book RICH DAD POOR DAD by Robert Kiyosaki. This book should be required reading for both high school and college students, and it probably wouldn't hurt to introduce this book to children at the grade-school level either. This book will really change the way you look at money. I only wish I had found this book when I was about 15 years old instead of being in my mid-late 20's. I would probably be living a much better and financially secure life right now if I had had someone to teach me the things talked about in the book, so do yourself a favor and BUY that book. Read it thoroughly, then start talking to your kids about it. I have read the book FOUR times already, and I plan to read it again. Each time I read it, I see something that I have missed the previous times I have read it. This is an excellent book to get your kids to read when they are about 15-16. You may not think they will pay much attention to it, but you may be surprised how much of it they retain, and you may be surprised how it changes their thinking.

I think they need to learn that it isn't limitless and they need to know how to budget. We can't live on others money(whether parents, credit, etc) forever, and have to work to earn it. I think these are key ideas to instill in your children

First and foremost, I think children need to know that money doesn't grow on trees, and that it needs to earned rather than simply demanded. They also need to learn that the more they put in, either in studies for a better, higher-paying job or more hours for extra cash, the more they will get out in terms of money. It is also important for them to understand the value of money, and how it has its dark side as well as its good side.

They need to know this to be able for them to know that money should not be easily wasted and must be saved if it is necessary.Some kids out there including the teens are keep on spending without realizing how hard these money being produced. When they know the values of money, then they can realize for there selves that it is important to saved money for more important purposes in the future.

hi! the first and the most important thing, that children must learn about the money is that money doesn't grow on trees and the parents/ the adults must work for them and that's why sometimes they can not buy all the things they want. Many kids, especially these ones, who have no brothers or sisters are satisfied with everything, and on some stage in their life as teenagers, they realize that they parents can't buy them all the things anymore, and they get very angry to them and it shouldn't happen!