http://www.tutorfi.com/wordpress/index.php/teaching-your-kids-about-money-management Your Trusted online Tutoring Mon, 06 Feb 2012 17:45:35 +0000 hourly 1 http://wordpress.org/?v=3.0 http://www.tutorfi.com/wordpress/index.php/teaching-your-kids-about-money-management/comment-page-1#comment-3733 Don Krone Tue, 22 Dec 2009 17:36:31 +0000 http://www.tutorfi.com/wordpress/index.php/teaching-your-kids-about-money-management#comment-3733 I agree wholeheartedly with trying to teach children the value of a dollar. Too often children think that a bank consists of a place where a parent can go and simply withdraw an endless supply of money. Certainly, the four jars method would be effective. But what happened to the old fashioned notion of assigning your child chores and having them earn some money? The value of a dollar is reinforced if a child must put forth some effort to receive it. Another approach not often taken is to teach your child to be less materialistic. I know that in today's consumer driven society that is nearly impossible, but one way to do so would is to sponsor a needy child through a non profit organization in your child's name. that way the child you sponsor and your own child can develop a relationship and your child will tend to be more appreciative of what they have and where they live. this will also reinforce the value of a dollar in their mind. I agree wholeheartedly with trying to teach children the value of a dollar. Too often children think that a bank consists of a place where a parent can go and simply withdraw an endless supply of money. Certainly, the four jars method would be effective. But what happened to the old fashioned notion of assigning your child chores and having them earn some money? The value of a dollar is reinforced if a child must put forth some effort to receive it.
Another approach not often taken is to teach your child to be less materialistic. I know that in today’s consumer driven society that is nearly impossible, but one way to do so would is to sponsor a needy child through a non profit organization in your child’s name. that way the child you sponsor and your own child can develop a relationship and your child will tend to be more appreciative of what they have and where they live. this will also reinforce the value of a dollar in their mind.

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