We all want our children to grow up knowing the value of money and we all have different ways of helping them to acheive this. I’ve read few posts on this recently, including a really interesting post over at The Madhouse about how Mummy Mad teaches her two the value of money and it’s really got me thinking.
At the moment Miss Frugal gets £2.00 a week pocket money in exchange for sorting the recycling out each night and keeping our shoe cupboard tidy. She takes pride in these jobs as they are ‘her jobs’ and looks forward to getting her money every Saturday. She then puts it into one of her many purses with her pretend credit card (AKA my library card) and pretends she’s going shopping.
We have a really cute pretend till that scans barcodes and makes a real beeping noise so you can imagine how much fun I have being the checkout girl 😉 It’s filled with lots of pretend money and even has a slot for me to swipe her pretend credit card!
When we’re out and about, I try to tell her how much things cost and I think that she’s getting a real sense now of the value of money. Hopefully I can build on that as she get’s older and help her learn how to manage her money better than I used to.
We don’t give Master Frugal pocket money just yet as I think he’s a bit young but seeing as he has his own set of (easy) jobs, I’m probably going to have to start giving it to him soon aswell!
Whoever said that children were expensive was certainly not wrong – good job they’re worth it though….
I think I have only really learnt the value of money since I had my kids and I am really trying to instil some common sense into them about money as I never want them to have to struggle with debt.
I love how kids think that £5 is a huge amount aswell Nat – so cute isn't it!
My daughter is nearly 4 and for the past 6 months she gets some money for helping such as in autumn she wanted to help rake leaves and she would for a good 30-40 mins so I think that deserved money! she saved it up and bought herself two dolls, since she has done small things like cleaning as in dusting her room etc and now has more money saved than me 😀
I agree it's very wise to teach them young, I love how Eliza will say £5!!! £5 wow that is reallllly expensive lol
I love the fake till we have too!! It is hard, but imporatant I think. I had no understanding of money at all at a lot older than the boys. It is difficult balance, but they kind of understand that something cost more than others. I think a lot of it is to do with choice at the end of the day