One of the probably most asked questions in parenting. Don’t worry dear parents it’s nothing difficult. There are some basic rules on how to raise a good kid.
Teach them and show them the value of money
Adults know pretty well that money is time plus work. But unfortunately, children do not understand. At least not in the beginning. They think that money is just another funny paper which you can get at that big building called the bank or near that strange machine that gives that paper when you click on it. Yes, I am talking about ATM. You can tell your child that, for example, he/she can get only one doll. The next thing you hear is “Mommy can I have both dolls?”. So it is important to teach them that there is no such thing as a free meal or free money. The child feels secure in the family, and that is why you should give him a task to help you with something. For examples, chores are a very popular thing for kids. The child needs to know for example how to put the dishes in the sink or how to clean up the table or whatever chores needs to be done. To teach them the value of a dollar, his/her work needs to be related to money. But instead of money, they will do the job because it needs to be done and the work needs to be shared among the family members. Some experts say that it is a good thing to give them money because they will understand the connection between work and getting paid. It is up to you to choose what is ok with you and how does it fit with your family philosophy.
Teach them about the budget, household and costs
You could teach the older kids about the budget of the household and the costs. You would see their surprise when you explain to them what are the costs for something to buy or to maintenance. Children don’t know what we pay and what are the costs for some things. It is a good idea to start explaining and introducing the term costs, money, and value. The sooner they understand what these things are, the better it will be for them and their maturity to develop and to grow up according to their age. When they understand what the expenses are, they will be more responsible, and they will know what to do, and you won’t need to ask them to do anything. They will already know what needs to be done.
The good idea is to show them how the less fortunate people live
Usually, the child does not understand empathy when it is little, but it can feel sorry for someone and then appreciate the things it has much more. You could teach them how to be humane and to develop the feeling for someone and also to understand what it has and what other people don’t have. It will help your child to understand the real life and how things work in the adult world.