Raising Financially Savvy Children : หน้า 69/216

Part Two: Raising Children - principles and consequences of over-spending. Do not give them money just to end their annoyance or their tantrums. Do not let them think that money is easy to earn. It is not! It does not grow on trees! They must learn that money - every single dollar is hard-earned. Giving them allowances can ease some of their requests, but they should be earning their allowances by doing additional chores around the house or by being creative in starting their own businesses: lemonade stands, book shops, and babysitting, for example. When we are buying items for our children, we should first window-shop to compare prices and quality, purchasing the item that has the best "bang for the buck". Find a way to explain to them that good things do not necessarily cost more. Teach them to always look for the true value of things and to use their belongings in a proper manner. We should also try to teach them how to repair damaged items so that they can be reused. If broken items cannot be repaired, then our children should be taught to give these items to charity or a recycling center. When our children are taught how to do things themselves, they develop independence and wisdom. If we allow our children to create their own toys to play with, or to assemble their toy parts together, then they will learn to help themselves and they will be proud of their successes. They will also be developing mental acuity. In this way, they will also be learning to save money and even perhaps how to make money themselves! "Piggy banks" are an easy and fun way for children to save their leftover allowances. Additionally, we may even take them to the bank to deposit their money into their own account. Encourage them to deposit any money they receive on special occasions, like birthdays Family Day By Day 67 Economics, Entertainment and the Internet