Home
>
Parenting
>
Teaching Kids the Value of Money

Teaching Kids the Value of Money

My husband and I have a 12-year-old daughter who wanted to go to a winter retreat with her church youth group last year. Price of trip ? $45. I told her I'd talk to her dad about it. "HOW much is it?" he asked, "didn't she just go somewhere with the youth group?" "Yes," I replied, "and also to two friends' birthday parties. Another one is coming up this weekend." We both agreed that was a lot of money for us to spend for our daughter to have fun with her friends.

But the retreat was a church activity. So we should have forked out the money for her go, right? Well, maybe. In the past year or so our daughter had made a lot of new friends and had been asked to be involved in a lot of new social activities. Last summer was the first year we could afford to let her go to summer camp for a week. It pleased me more than anything to tell her she could go.

The more we've let our daughter go do things with her friends, the more she takes those things for granted, and expects more. She then resents doing something so menial as her household chores. So now we make sure her chores are done before she goes anywhere. "Room's not clean, laundry not started? Better hurry and do them before you go do something with your friends. Don't have time? Then I guess you're out of luck." But that was only the start. Whenever the attitude starts in she's given a warning and then privileges start being taken away, one by one.

You have to figure out what works for you. You may have to teach each child individually, because each is motivated differently. If your children cheerfully hand over their allowance every time they don't take out the garbage, you should take some other privilege away.

Resist the urge to give your children too much allowance. Don't buy them things that they can save money for themselves, like designer clothes, CD's, magazines, make up, video games, etc. Even young children can be taught to save for small things. Almost nothing makes me more sad than seeing children who take their allowances for granted and never have to work for it. Parents aren't doing their children any favors by teaching them to expect everything to be handed to them. We sacrifice, and they don't appreciate it. Why should they? They don't have anything to lose.

So did our daughter get to go on her retreat? We decided she could go if she paid $20 of the $45. She was not happy about it. She only gets $3 a week allowance, and she was saving her money for a new CD. She stewed about it for awhile, and then forked over what money she had. We worked out a payment schedule for her to come up with the rest of the money before the weekend of the retreat, and we let her do extra chores to earn a few more dollars. Are we guilty of child abuse? Our daughter thinks so, but her dad and I know better.

About The Author

Rachel Paxton is a freelance writer and mom of four. For more inspirational articles and tips for everyday living, visit her web sites at http://www.creativehomemaking.com and http://www.creativehomemaking.com

Lincoln Stretch rentals Alsip ..

In The News:

Tech guru Kurt "CyberGuy" Knutsson offers solutions to fixing a personal computer that freezes up. There are a number of reasons this might be happening.

The rollout of Apple's iOS 17 brought a subtle "Rebound" notification tone that's gotten some criticism. Kurt "CyberGuy" Knutsson explains a fix.

Fitness centers and workout studios are starting to establish policies that prohibit shooting phone videos to protect people's privacy.

Stay up to date on the latest AI technology advancements and learn about the challenges and opportunities AI presents

Apple recently notified a small number of iPhone customers in 92 countries that their phones may be under attack by mercenary spyware.

An artificial intelligence-powered home security system can fire paintballs and tear gas at trespassers. The camera identifies human faces and animals.

Technology expert Kim Komando gives her tips and tricks on enhancing your user experience a smartphone and other devices you use everyday.

A new camera called NUCA uses artificial intelligence to create deepfake photos of subjects by stripping away clothing in close to real time.

The Kimberley Kube trail-ready camper has a compact but spacious design and combines luxury, functionality and ruggedness for a weekend getaway.

Stay up to date on the latest AI technology advancements and learn about the challenges and opportunities AI presents now and for the future.

Emails instructing you to reset your password for an account may be legitimate, or they may be scams. Kurt "CyberGuy" Knutsson explains.

Northrop Grumman's Manta Ray uncrewed underwater vehicle aims to revolutionize undersea missions — it glides through the ocean without human assistance.

Learn how to work Google's calendar application to streamline and organize your daily tasks from technology expert Kim Komando.

If you do not want Facebook to have automatic access to your private photos, follow our tips to protect yourself. Kurt “CyberGuy" Knutsson shows you how.

Kurt “CyberGuy" Knutsson goes into detail about Apple’s recent iOS update that allows iPhone users to instantly translate spoken language simply by using the Action Button.

Safeguarding your digital life with a reliable physical backup isn't just a precaution, it's a necessity. Kurt “CyberGuy" Knutsson provides the essential backup checklist.

Kurt “CyberGuy" Knutsson reveals how a Redditor exposed false recycling claims at their apartment, highlighting a report that only 21% of U.S. recyclables are processed.

Kurt "CyberGuy" Knutsson offers a travel toolkit featuring five technology tools to help you with booking flights and hotels for your summer vacation.

The bubble behind the clock on your iPhone can appear in different colors. Kurt "CyberGuy" Knutsson explains what each of those colors mean.

Scammers are using the power of artificial intelligence to mimic voices of people and are using the fake voices to commit crimes, like kidnappings.

Stay up to date on the latest AI technology advancements and learn about the challenges and opportunities AI presents now and for the future.

Tech guru Kurt "CyberGuy" Knutsson explains the science behind the Invisibility Shield, a 6-foot shield that makes people become invisible.

The International Olympic Committee on Friday announced plans to use AI in various Olympic aspects, including athlete identification, training and judging.

Tech guru Kurt "CyberGuy" Knutsson explains an easy trick to avoid squinting while working or surfing the web by zooming in on your personal computer.

Streaming giant Roku has recently been targeted by a pair of cyberattacks, and the company confirmed over a half million Roku accounts were compromised.

Teaching Kids the Value of Money

Parenting