I will never forget hearing parenting expert Barbara Coloroso ask an audience, "How many of you here got paid for doing the dishes tonight?" I thought about it afterwards and realized when a group of people are living under one roof, we all do our share, because it's the right thing to do. It's essential, though, that our kids learn the value of a dollar, and to discern between wants and needs.
To learn about money, our kids need money. If we give them a set amount of money every two weeks and tell them it is to be used for the things they want, such as special treats, toys, electronics, etc., they very quickly learn to evaluate the cost of things and to save for things they really want. As well, it immediately eliminates the constant, "Can I have…"
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